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Thread: Rezwan FX Trading Journal

  1. #1631 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on USDCAD and GBPUSD (14-04-21)

    Hello friends Hope you guys are doing well. Greetings of the Holy month of Ramadan to all the members of this great forum. For me nothing has changed as I am not receiving any bonus or any feedback from Mr Aviz. This is very much disturbing for me and I think I have to wait till 16-04-21 to lift the ban on me. Apart from the poor editing & rejecting of posts by the editors the confusion regarding claiming posts for approval has not been cleared yet. We have seen people got big amounts without claiming any posts while some people like me may get ban for continuous claiming and rejection!

    I think the forum authority should give clear instruction on post claiming & its role on bonus distribution.

    USDCAD:

    In my previous post, I have shared about the symmetrical triangle pattern for the USDCAD and I suggested to go for a bearish breakout. Fortunately the pair has managed to make the bearish breakout and I think this is a good opportunity for selling.

    Name: USDCAD 14-04-21.png Views: 156 Size: 105.0 KB

    In the H4 chart we can see the pair tried to make a false bullish breakout and ended up with a H4 bearish PIN BAR. This is a good sign that the buyers have failed to hold the gain and sellers are in control. Also we can see to the EMA lines are also indicating bearish movement as the ling sideways is about to break. WE can go for selling immediately and the stop loss has to be above 1.2600 area and our take profit target would be 1.2453 support area.

    GBPUSD:

    The GBPUSD has got a double rejection from the 1.3670 level and the price is currently moving above the 1.3765 S-R level. In the H4 chart both the EMA 21 & 50 lines activity showing a signal of bullish movement. I think the pair is either going to make a bullish move or at least a bullish sideways move, but the chance for going bearish is very minimum.

    Name: GBPUSD 14-04-21.png Views: 148 Size: 76.6 KB

    So we can take a chance to buy the pair at the closest price of 1.3765 S-R level and the stop loss has to be above 1.3700, whereas our TP target would be quite decent with 1.3859 as TP1 and 1.3952 as TP2. I hope both the trading opportunities will hit the desired TP level. But to avoid any unwanted loss we must maintain proper money management and must not be greedy. Wishing you all best of luck.


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  3. #1632 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on EURUSD and EURJPY (14-04-21)

    Hello friends, hope you guys are doing well. Today I am happy with a hope that the ban on me will be lifted and hopefully my posts will be counted on the bonus campaign. For the last one month I havent received any proper bonuses due to the so many rejections from the editors! I am just hoping that the editors will do their work properly and hopefully my posts will get the approval it deserve.

    I am glad that both my analysis on USDCAD and GBPUSD are running with positive results and hoping that both will hit the TP levels. Here I am going to share my thoughts on the EURUSD and EURJPY, hopefully things will come out positive.

    EURUSD:

    Throughout the week the EURUSD has been remained bullish and now it is testing a very key resistance level of 1.1990. Previously we have seen that this level has acted as both S-R levels for so many times. Also we can see this area is currently supported by an important trend line. By considering the weekend and the strength of the resistance level I think we can go for selling the EURUSD immediately and the stop loss has to be just 30 pips above the 1.1990 level.

    Name: EURUSD 16-04-21.png Views: 139 Size: 95.1 KB

    As we are going against the current trend also targeting short term profit, so the take profit will be around the 1.1900 support area. But we must remember any break above the 1.1990 by at least H4 candle will invalidate this signal and we may need to switch to buying options.

    EURJPY:

    The EURJPY has been moving in bullish trends for a while and currently making a consolidating sideways movement above the 129.50 support area. The sideways movement has an upper resistance of 130.60 and a support level of 129.90. In the H4 chart we can clearly see that the EMA 21 & 50 area moving in sideways however the 200 EMA is still indicating the bullish support.

    Name: EURJPY 16-04-21 2.png Views: 134 Size: 95.1 KB

    As the days progress, I think there is a very good chance that the pair will break the sideways with an uptrend. To get into the buying trend we need to wait for the pair to either make a clear breakout or we can enter the buy while hitting the lower bottom of the sideway. In that case the stop loss has to be below the 129.50 and the take profit would be 131.42 resistance area. But we must note that to materialize this trade into profit we need to wait for a precise area to open the orders.

    Rejected

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  5. #1633 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on USD Index and USDCAD (18-04-21)

    Hello friends, hope you guys are doing well and enjoying the weekend. In terms of volatility, the last week was quite calm and didnt see any aggressive movement. However, the movement of the USD Index and other USD based pairs like EURUSD, GBPUSD, and USDCAD etc are giving us a good indication of the next move. Here I am going to share a detailed analysis on the USD Index and a trading setup on USDCAD.

    USD Index:

    The USD Index movement of the last week is showing weakness in the strength of the USD and its sliding down continuously. The H4 chart shows that the Index has broken below the falling wedge support and finished the week with a strong bearish weekly candle. To understand the bearish sentiment we can see that EMA line crossovers are also happening and it pushing the Index lower.

    Name: USD Index 18-04-21 2.png Views: 205 Size: 110.4 KB

    But as we can see the price is heading towards the support area of 91.39 and 9.95 area. Interestingly both the areas have worked as S-R levels previously also they represent the FIBO 50 and 61.8 retracement area. When it comes to the FIBO 50 and 61.8 then we have to watch it very closely and must not hurry to make any sudden entry. Usually, we see these two FIBO levels work as strong trend continuation level and helps pairs to move with the respective trend. So any rejection from these levels would take the Index higher but to confirm that a bullish reversal price action pattern need to appear.

    Name: USD Index 18-04-21.png Views: 123 Size: 121.2 KB

    But as not that many of fundamental factors will be in support so we may not see a clear bullish reversal rather we may see a sideways movement in between the 91.80 to 90.95 area. On the other hand, if the index breaks below the 61.8 (90.95 price area) then it will be a bearish blood bath for the Index. Any clear bearish breakout will surely take the Index towards the 90.60 and 90.05 support levels. From the above discussion and technical outlook, I will be biased with the sideway to bearish movement and will avoid any bullish outlook until price action confirms it.

    USDCAD:

    The CAD has been posting some good economical data and also with the support from the CL price it is still quite a strong currency on the market. Against the USD it maintained its upper hand very well and from my previous analysis, I have shown that it has also made a bearish breakout from a symmetrical triangle.

    Name: USDCAD 18-04-21.png Views: 119 Size: 95.9 KB

    The H4 chart and the pressure from the EMA lines we can expect another leg down from this pair. Also, some big news of bank rate, BOC monetary policy statement and BOC press conference will be held in the coming Wednesday.

    Name: Fun Da 18-04-21.png Views: 119 Size: 82.6 KB

    Hopefully, things will come out positive and sellers will win the battle. So,I think this pair will be good for shorting in the next week and need to enter the market around the 1.2527 S-R area and the stop loss has to be above the 1.2575 area. The 1.2453 support level will be the 1st take profit levels and if things go well then we may hit the 1.2367 support level (TP2) also.


  6. #1634 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on EURUSD and EURJPY (19-04-21)

    Hello friends, hope you guys are doing well and doing positive trading. I am trying to update my journal regularly and happy to see that most of my analysis are becoming fruitful. Hoping that these analysis are helping you guys to trade better. However I am still waiting to receive the weekly bonus payment, which I am deprived of for the last one month!!! But I am still hoping that the problem will be solved and I will get my reward. Here I am going to share my thoughts on EURUSD and EURJPY.

    EURUSD:

    The last week was very mu8ch bullish for the EURUSD and finished it with good bullish momentum. But the movement was halted right at the top of 1.1990 resistance level. I was pretty much confident that the pair would break this resistance but maybe with a small correction. However the correction didnt happen rather we have seen a clear break of the resistance and the trend line also. The EMA lines also made the crossover and indicating a clear bullish ride for the upcoming days.
    Name: EURUSD 19-04-21.png Views: 158 Size: 104.0 KB
    So, we can buy the EURUSD but not the current price rather we need to wait for the retest of the broken resistance at 1.1990. We will buy at the closet price possible to 1.1990 and the stop loss has to be around 40 pips down, on the other hand the TP1 would be 1.2100 and the TP2 would be the 1.2166 resistance level.

    EURJPY:

    I am quite happy with the EURJPY movement, as it moved down to the 129.90 area which is the bottom of the sideways movement. As far the EUR strength is concern, I think the pair is going to make another bullish run from this position. The Bullish breakout is possible and we can see the EMA 200 and also the trend line is ready to provide support.
    Name: EURJPY 19-04-21 .png Views: 106 Size: 107.4 KB
    So we can actually buy the pair at this moment but the stop loss has to be 129.46 support level and the TP1 will be the 130.60 and the TP2 will be the 131.42 resistance area. Hopefully both the trade setup will come out positive and give us green pips.

    Rejected

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  8. #1635 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on EURUSD and EURJPY (19-04-21)

    Hello Friends, hope you guys are doing well. Here I am going to update my journal with EURUSD and USD Index analysis. I am really happy to see that my previous analysis on EURUSD and EURJPY as both went in the desired direction. The EURJPY has hit the TP1 level and the EURUSD retested the broken resistance exactly the way I thought. Hopefully, you guys are enjoying my posts and I hope that I will get a good reward in the coming weeks.

    USD Index:

    The USD Index has broken the FIbo 50 % level which also confluences with the 91.39 support level. I think this break is significant and clearly showing the weakness of USD. However, the price is still unable to make a clear break below from the Fibo 61.8 % level & 90.95 support area. Also, another important fact to check that the price has done the retest of the broken support and trend line, which indicates that the price will fall.

    Name: USD Index 21-04-21.png Views: 169 Size: 118.2 KB

    So this is a good opportunity to sell the USD Index and the stop loss has to be above the 91.39 resistance level and the 90.05 support area would be the take profit target but certainly it wont go down straightway.

    EURUSD:

    The EURUSD has made the breakout and the retest of the broken resistance just as I predicted. The 1.1990 support area is now more consolidated and stronger than ever. This area is now supported by the EMA lines horizontal support as well as the trend line, which makes it a good area of confluence.

    Name: EURUSD 21-04-21.png Views: 90 Size: 112.6 KB

    There is nothing more to say about the next movement of EURUSD as it clearly showing the bullish signs. So, we can buy the EURUSD right away and the stop loss needs to set below the 1.1990 support area. Whereas the take profit need to split up and the 1.2100 will be the TP1 and 1.2166 will be the TP2 target area. I think both the trading options have a good risk to reward ratio and I hope both will head towards the designated target area.


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  10. #1636 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on GBPUSD & EURUSD (23-04-21)

    Hello Friends, Hope you guys are doing well. Slowly but steadily we have reached another end to the weekly trading. This week showed some good movement and the moves were quite predictable based on technical terms. As a follow through of my previous analysis here I am going to share my thoughts on GBP & NZDUSD.

    GBPUSD:

    The pair started the week with a very good bullish momentum and hit both my take profit levels. Hopefully, those who followed my previous analysis on it may have gained good profits. The present condition of the GBPUSD is not ideal for trading as it bounced back after hitting the 1.1400 resistance level. We can see this level has acted as heavy resistance for several times. However, the bearish momentum has not also that much of pace so I am expecting the pair may finish the week with a bullish sideways movement. The current price zone has good support at 1.3805 and also the EMA 50 & 200 both are ready to hold.

    Name: GBPUSD 22-04-21.png Views: 131 Size: 95.4 KB

    Even though, if we check the weekly chart then we can see the has actually reversed from all of it's bullish gain of this week but I think it will finish the week at around 1.3953 area. So we can take chance to buy the GBPUSD from the current price of 1.3840 area with a take profit target of 1.3950 area and the stop loss has to be below 1.3800 area.

    NZDUSD:

    The NZDUSD also showed good bullish momentum in this week and it has broken through some strong resistance areas. The H4. Daily and the weekly charts are still showing bullish signs with a small window of correction. At the H4 chart, we can draw a trend line and the price seems to obey it in good manners. Currently, the pair is hovering around the 0.7154 area which is supported by the horizontal support line, trend line as well as EMA lines and that makes this an area of confluence. I think the pair wont be able fall below this support area also the 0.7097 possesses good supporting strength in addition to the 0.7154.

    Name: NZDUSD 22-04-21.png Views: 78 Size: 105.4 KB

    So we can go for buying the pair immediately and our take profit target will be 0.7220 area (TP1) and the 0.7325 (TP2) will be the next big target to hunt. However, the stop loss in this case will be relatively small and we need to put it around 0.7140 area. Hopefully, both the analysis will come fruitful and give us positive results.

    Rejected

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  12. #1637 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on my trade and GBPUSD analysis (26-04-21)

    Hello Friends, Hope you guys are doing well. The frustration of not getting any bonuses is still continuing as I am not receiving any bonuses for the last one month. The last payment I have received was week 12 3.98$ in 27-03-21!!! I am not sure what is going on, just only hoping to get the fair reward according to my work. Apart from the bonus issue right now it became very difficult to make a post as the forum sites are showing errors. I think the backend development work is in progress and hoping that all the problems will be solved soon.

    My Trade:

    AS I dont have any amount left to trade, so I opened a demo account to keep the practice going. Today the overall market movement was slow and I opened buy positions in GBPUSD. Currently, it is running with small losses but I hope it will eventually hit my TP targets. I think this is not the best entry but the positive bullish momentum of GBP will help me to achieve my TP level which is set just below the 1.1400 resistance level. I think tomorrow will be important to seal the fate of these short-term buying trades of GBPUSD.

    Name: Acc 26.png Views: 57 Size: 15.4 KB

    GBPUSD Analysis:

    The last week finishing of the GBPUSD is not that much promising for bullish movement as it got clear rejection after hitting the 1.1400 resistance level. But based on the H4 and D1 chart we can see the overall bias for the pair remained bullish or bullish sideways. Also, we can see the EMA Lines are still holding and keeping the pair to stay afloat and protecting from sliding down. I think the 1.3757 support level is the key here to hold the pair from going bearish.

    Name: GBPUSD 26-04-21.png Views: 58 Size: 77.2 KB

    On the other hand, any break above the 1.1400 resistance would clear the way for bigger bullish movement. So I remain bullish on GBPUSD and I think the pair will keep moving with the bullish trend.

    Fundamental Facts:

    This week is very important for the USD based pairs for two reasons,
    1. FOMC and GDP data of USD will be released in next Thursday
    2. This is the last week of April-2021
    Name: Fun Da 26-04-21.png Views: 56 Size: 107.2 KB
    So high volatility is expected in this week and I think the USD has a good chance to slide further down and if that happens then the GBPUSD will surely break through the 1.1405 resistance area. On the other hand, any positive comments from the FED may delay the GBPUSD bullish movement.

    Rejected

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  14. #1638 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on my Demo trade of GBPUSD and EURUSD (29-04-21)

    Hello friends, hope you guys are doing well. Good to know that today many users have received payment for week 17 even though nothing has been updated in my account !! The payment of 3.98$ of week 12 was the last payment I have received, since then didn't receive a penny from the forum. I have again contacted Mr Aviz to check the issues but didn't receive any feedback yet. However I have received a mail which says that one of my posts is totally meaningless to them, I am not sure what meaning they are looking for !! The post checking process is still not working and they are rejecting posts without proper evaluation. I will not make any appeal but I ask all the members to check my posts, is it really meaningless?? Here is the link, "https://forum.mt5.com/showthread.php?242529&p=15210623#post15210623"

    However, my demo trades are flourishing with profits, and I happy that my analysis is working even though they are meaningless to the editor team.

    Fundamental discussion:

    The FOMC statements and remarks from the FED Chair is out and it is proving to be pretty much dovish. My Powel has made some very negative comments and raised some warnings about the Labour market, inflations and about the recovery process. These dovish remarks immediately devalued the USD and we can already see the impact in the chart. This month-end FOMC will have a long time effect on the market and the USD strength will decline further in the upcoming days.

    Name: Fun Da 29-04-21.png Views: 81 Size: 21.5 KB

    Trades on GBPUSD:

    Name: Acc 29.png Views: 47 Size: 13.5 KB

    1.10 lot size buy trades in GBPUSD is running with more than 50$ profits. As previously shared, I opened these positions in 26-04-21 and I was very confident that it would fly higher after the FOMC and it did that so. Currently, in terms of pips my trades are running with more than 60 pips in profit yet it needs to move up another 50 pips to hit my TP level just below the 1.1400 resistance area. The way things are moving I hope that within tomorrow it will reach the TP level.

    Name: GBPUSD 29-04-21.png Views: 48 Size: 77.6 KB

    After opening the positions I had to wait with patience as the pair wasn't moving upwards and it also tried to go bearish but apparently, it failed to break below the 1.3860 support level. The repeated failure to break below the support area hinted that the pair is ready to fly again. Based on my analysis I think the pair will hit the 1.1400 resistance level by tomorrow.

    Trades on EURUSD:

    The EURUSD is also moving with a clearing bullish trend and the dovish FOMC remarks pushing it up further. I have opened 0.50 lot size of one position at 1.2084 and at this moment it is running with 40+ pips profit. I am not going to close the trade until it hit my TP target of 1.2170 resistance area and hopefully by tomorrow I will achieve my goal.

    Name: EURUSD 29-04-21.png Views: 48 Size: 89.8 KB


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  16. #1639 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on my trades on GOLD & NZDUSD (29-04-21)

    Hello Friends, Hope you guys are doing well. I am forced to trade demo as I dont have any bonus left and received nothing for more than one month. Demo trading may not give the experience of actual trading but still, it is a very good platform to test your trading abilities & strategies.

    My Closed Trades:

    Name: Acc 29 1.png Views: 79 Size: 14.9 KB

    Today I have closed the GBPUSD and EURUSD both positions with 88$ profit and I am really happy with it. I have opened those buy positions on 26-04-21 and manually closed it today even though I am still confident that both will hit the TP level.

    My Running Trades:

    Name: Acc 29 3.png Views: 37 Size: 15.2 KB

    Currently, I have a total of 5 positions running in two different instruments. All 3 buy positions in GOLD with 0.15 lot size and 2 buy positions in NZDUSD with 1.20 lot size are running with 100$+ loss but I am confident that I will close these positions with profit.

    GOLD Trades:

    Entry: 1778 & 1761
    Stop loss: Below 1748
    Take Profit: 1808

    The GOLD is in bullish shape and we can see some good bullish price action in the daily chart. IT clearly shows that GOLD has been respecting the 1764 support area and we can see a bullish PIN bar also has been created. The area between 1748 to 1764 with the support of EMA lines are proving to be a good support zone and we can see the price tried to break below but remained unsuccessful.
    Name: Gold 29-04-21 1.png Views: 37 Size: 108.1 KB
    In the H4 chart, we can see the price got a clear rejection from the 200 EMA line and it immediately went above the 1764 level. So I think the GOLD will finish the week and the month with an upward movement and hopefully, I will close my trades with handsome profits.
    Name: Gold 29-04-21 2.png Views: 38 Size: 73.3 KB

    NZDUSD Trades:

    ENTRY:0.7253
    Stop loss:0.7195
    Take Profit: 0.7325

    The NZDUSD has been moving with clearing bullish momentum and with that in mind, I have opened these buy positions. The 0.7225 to 0.7250 is a good support level and also supported by the trend lines. I think the pair will respect this support zone and move upwards. So hopefully by tomorrow, I will be able to close these trades with profit and it can actually hit the TP target also.

    Name: NZDUSD 29-04-21 2.png Views: 36 Size: 82.7 KB

    Lets hope for the best and please share your thoughts on these trades in the comment section.

    Approved

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  18. #1640 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Trading Update (03-05-21)

    Hello Friends, Hope you guys are doing well. The new trading week has been started and hopefully, everybody is prepared to roll on. Currently, I have 11 running trades in three different instruments which include GOLD, USDJPY and EURUSD. Here I am going to share the present condition of the running trades, also update on the closed trades.
    On the other hand, there is no update on the weekly bonus and also didnt receive any feedback from Mr Aviz, this is becoming very frustrating. Also, the claimed posts are still pending for approval, I think the overall system is not working well at all.

    My Closed Trades:

    My NZDUSD Trades have hit the stop loss in the last Friday which incurred me 69.80$ loss. and also I have closed a buy position in gold with a 25.45$ profit. The overall trading result is still positive for me and hoping to continue the demo trading till I get the weekly bonuses.

    Name: acc 03-05-21 1.png Views: 393 Size: 7.6 KB

    My Running Trades:
    Currently, my trades are running with small profits but I think the profit level will rise with time and hopefully I will be able to close all the open positions with a healthy profit.

    Name: acc 03-05-21 2.png Views: 24 Size: 30.6 KB

    GOLD Trades:

    Entry: 1778
    Stop loss: Below 1748
    Take Profit: 1808

    The situation for GOLD didnt change that much however it is exposing its bullish behavior more precisely. The monthly, weekly & daily all long-term charts are also indicating that the GOLD is preparing to move further upwards.
    Name: GOLD 03-05-21.png Views: 24 Size: 75.0 KB
    In the H4 chart after getting the rejection from the 200 EMA and the 1764-1748 support area the GOLD is moving higher and also other EMA lines pushing it up. The entry-level and the stop loss positions are selected based on the analysis of EMA lines and support levels. Hopefully, the GOLD will hit the TP level at 1808 and will generate good profits.

    USDJPY:

    ENTRY:108.85 & 109.51
    Stop loss:109.70
    Take Profit: 108.05

    My entry at 108.85 is not well-timed rather it seems premature, even though it was below the FIBO 50%. Actually, I was expecting that the pair may not move further but it did and the sell entry at 109.51 seems to be alright. The pair moved further upwards and got the rejection at FIBO 61.8% at 109.65 price level which is a good indication that it may continue the bearish movement.
    Name: USDJPY 3-05-21.png Views: 25 Size: 88.3 KB
    So the overall situation of the USDJPY is now good to move downwards and to make it smooth todays daily candle needs to be closed below the 109.20 S-R level. Hopefully, my TP level at 108.05 will get hit at the end of this week or so. Lets hope for the best and please share your thoughts on these trades in the comment section.


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