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Thread: global20's trading journal

  1. #4761 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello my dear friends and traders how are you? I hope you guys are doing very well and making a good amount of profit this week. We can see that the gold uprising movement of 1820 right now was a clear bullish movement that I was expecting yesterday and gave my analysis about the Gold and target level of 1825. On the other hand, we can see that GBPUSD is also moving in the upward direction of War 1.3927 and there is very much possible that it can continue the upward direction over 1.400 today because you can see that the news effect of GBP currency monetary policies and other important news all came very positive yesterday.


    Trading strategy







    I've just opened a gold buying position dating back to 1820, and this is a straightforward pattern trading scheme. Following the easy pattern for the m15 map, we can see that my target area is at the 1826 mark, which is the closest resistance level. If the prize from place 1814 is refused, I will cancel this order and wait for another submission. My gold trading place is generating a floating profit of over $3, and I expect it to generate at least $30.



    Yes if we look at the GBPUSD price level which was swinging from 1.3860-1.3940 since yesterday after monetary policies news came positive and there were several swings and swing back happen. Now I am expecting that the price of GBPUSD will rise over 1.400 easily. Look at the M15, H1, and H4 charts.



    Reason behind entry position



    As I previously said, the gold position was simple moving average line pattern selling, and there is resistance over 1826, which is the primary target level; however, if the market breaks through the resistance, it will continue to 1845 today.




    The GBPUSD, which was a closed deal, was focused on news trading that affected the USD index and the GBP currency yesterday as a result of monetary policies and other evidence. This was the most recent information.


    Exit position/target



    Yes, you are aware that we need to be aware of fundamental factors and news; otherwise, trading would become pointless, and the trend will go in any direction at any moment. GBPUSD and gold are now in a positive cycle, although this does not mean they will last indefinitely.


    Take a look at the map below for the exit location.


  2. #4762 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello dear friends and traders how are you guys? I hope you've had a fantastic week; I've been practicing for my demo account for a long time and have had a lot of fun trading in the last few weeks. I saw a strong bullish pattern in Gold, GBPUSD, and EURUSD, which was a great study on my part, and the target levels were met using news and technical trading.


    Trading strategy


    I have traded mainly EURUSD, GBPUSD, Gold, and bitcoin most of the time and I have submitted my analysis and trading reason yesterday which was a very good analysis of what I am thinking. Now have a look at my trading positions.

    Name: last week trade.PNG Views: 392 Size: 22.1 KB



    The most profitable trade was gold, and as you can see, the trading position was in 1820. I ride the price trend just before the NFP was published, and gold rose dramatically, reaching a high of $1843 as I reported in my yesterday's journal based on regular technical chart analysis. You can remember that the price of gold had a support area of $1668 and had a swing over $1757 before finding support at $1703 following a large swing, with the peak position hitting $1843 yesterday.


    The reason behind The Entry positions


    Name: news.PNG Views: 129 Size: 12.3 KB


    If you can see the biggest amount which I have made with 0.1 lots of Gold which brings $79.52 from selling the position of 1837.664, it was the moment when the peak position was hit at $1843 and a reverse trend and price correction happening, so this is always a wise decision to make reverse sell when a big rise happen and the top-bottom position which is showing hammer candle.

    Name: gg.PNG Views: 134 Size: 38.8 KB

    On the other hand, if you look at the EURUSD buying position which was at 1.2109 and that is a very short-term scalping technique following the market trend, use the M15 chart it will give a clear trend trading signal for buying.

    Name: rrr.PNG Views: 134 Size: 36.8 KB


    Exit position/target level


    Name: iik.PNG Views: 135 Size: 38.6 KB


    As I previously said, using SL and TP is still a professional thing to do, but in those cases where we are not using SL and TP, it is appropriate. For example, yesterday Non-Farm payroll came out, which was very much negative data as everybody knows, and the market was clearly showing a bullish trend, so in that case, I should go for long-term buying, but I closed those orders because I took 0.2 lots overall.


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  4. #4763 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Today's market is high-speed and volatile, and EURUSD and GBPUSD have been on a long bullish trend. I was hoping to continue the price's reversal from last week's high, but the USD index's weakened situation is clear. The EURUSD trading range has been discovered between 1.2136 and 1.2176, a long bullish movement, and I recall the stock hitting a low of 1.1668 a few weeks ago. Price has shown a real character in only a few weeks, and the EUR currency is going even better than in previous years. This time I traded EURUSD, and the price of the EURUSD sell spot was at 1.2161.

    Trading strategy



    Name: 1.PNG Views: 132 Size: 5.3 KB

    We should think of short-term selling for EURUSD from position 1.2161. If a breakout of the position of 1.2179 occurs, we can expect the growth of EURUSD to resume above 1.2325 quickly, according to the trend trading and support resistance-level strategy. When we can see a significant rise in price level continue over weeks and a swing opportunity is always created, I am trying to ride on that trend-changing opportunity here.




    The reason behind entry position


    Name: M15.PNG Views: 124 Size: 50.4 KB


    Except for the D1 chart, the trading chart patterns for the M15, H1, H4, and D1 time frames all show real potential for short-term selling.

    The immediate support level and volume of traders above the 1.2140 level can be seen on the M15 chart, and the channel boundary then narrows. Look at the lower support field of the Bollinger band over there.


    Name: H1.PNG Views: 123 Size: 56.7 KB

    The channel continues to rise above 1.2180, as seen on the H1 chart, and if the market breaks out of this area, it will become the next support area, with the price continuing to rise above 1.2300 at every moment.

    Name: H4.PNG Views: 123 Size: 52.9 KB

    From the analysis of the H4 chart, we can see that the stochastic indicator is also in the top position where it's reached above 80, which is an ideal condition for long-term selling. The Bollinger bands resistance level is showing at 1.2190 level there, and if the break of this position happens, this setup will be absorbed.

    Name: D1.PNG Views: 120 Size: 36.8 KB

    Finally, I have decided that the trade will be running on-sell position when I have analyzed the daily chart, where there is a 50-50 chance here because the Bollinger bands resistance at 1.2174 and there is the highest position of price hit at 1.2176 today. The doji candle is a clear sign that if the breakout of 1.2179 today, this setup will vanish, so wait for the breakout, then change the trade direction.

    Exit position/target


    If my trade runs for a long time and a fast drop below 1.2140 occurs, I will keep the position over 1.2075. Otherwise, I will close it at 1.2145, according to the daily chart.

    If the EURUSD price breaks 1.2190, I will not hold this position for a long time instead of heading in the buy direction.

    Thank you.
    Last edited by deathstar; Today at 06:22 PM. Reason: per member's request


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  6. #4764 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello dear friends and traders how is going on? I hope that you guys are doing good and making a nice profit. Yesterday, I submitted my trading history and current position, which was perfect in terms of making me a large profit as I targeted the EURUSD sell position. Overall, I made $86 in gains, with the majority of my trades being EURUSD and GBPUSD. Obviously, no one would dare to sell such a condition given the bullish pattern of EURUSD and GBPUSD over the last few days, but I took the gamble because I had previously mentioned in my analysis that the rejection level of 1.2178 and breaking of 1.2190 would lead the place over 1.2300 at any moment, but you have already seen that the price got a major swing at 1.2123 today.


    Trading strategy

    I've been following the help and resistance levels of a trading strategy focused on the channel border, as well as the bearish trend created by the Doji candle that formed yesterday. I explained the trade situation and why I opened the trade in detail.

    Check the status of those trades right here.

    Name: trade.PNG Views: 114 Size: 11.3 KB

    There is a very sharp rise of price level of GBPUSD due to heavy negative situation of USD index which is now hit at 90.06 lowest after a long time, It was reaching close to 92.25 last time but after a long bearish move, the USD index now seems under pressure once again. Yes, most of the traders are now expecting that price of the USD index will go down back to the lower support area of 89.20.

    The reason for selling GBPUSD from the position of 1.3920 and 1.3895 several days ago because that was the time price was quickly moved on that level so a short swing trading opportunity was created over there.


    The Reason behind entry position

    The main reason for trading sell of 1.2161 just because the trend was heavily moved over 1.2178 yesterday and a quick reverse chance over there which I have explained earlier and now I think another buying opportunity here from 1.2165 because the swing from 1.2123 level today and it can probably cross the level of 1.2200 after a long time.

    Now, look at the news trade open position of EURUSD today.

    Name: m15.PNG Views: 109 Size: 46.1 KB

    Looking at the Technical chart of M15 there is a short term bullish momentum is seen and the nearest resistance level is at 1.2175 and you know yesterday it was reached over 1.2178. If the break of this position happens the resistance became support after that, obviously the bullish momentum can continue over 1.2225 easily and that could be a good target area for the medium-term condition of trading.





    Name: h1.PNG Views: 109 Size: 51.4 KB

    Looking at the H1 chart the upper resistance level over 1.2171 and there is a Doji candle formed which is giving a short-term selling opportunity up to 1.2150 but a cross over 1.2175 can give another height of the price level.



    Name: d1.PNG Views: 109 Size: 50.4 KB


    it's a very nice trending formed for EURUSD right now but struggle to cross 1.2175 since yesterday. The previous high was at 1.2243 in February and that is the next target level of my trade position.

    Exit position/target

    At this moment I am not setting stop loss and I will try to close orders manually later on if the strategy fails and my trade turns into a loss over $35-40 then I will close this order, here is a ratio I have to maintain that grab 70-80 pips from risking 25-40 pips.


    Trade opportunity today

    The is always a trade opportunity that comes but if the trade is set up properly then the risk is a bit less for us so we have to wait for the upcoming news and check the effect on the forex market. There is a clear down trending of the USD index which everyone is expecting can drop below 89.75 today so buying EURUSD and GBPUSD could be a perfect idea at this moment.


    Thank you.

    Rejected

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  8. #4765 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone, how are you?

    You guys already observed that yesterday a massive movement happen for EURUSD, GBPUSD, and gold. There was a big drop of USD index which came down to the lower level of 90.13 which was a bit of surprise thing for many of us but a quick recovery happen right now which reached over 90.88 today, this massive movement of USD index was the main reason for impacting the price level of EURUSD, gold. As you can see that EURUSD was trying to cross the 1.2150 level and the trend has been changed and after the Fibonacci retracement level reached over 100 and the downtrend below 23.6 has been seen for the H1 trading chart pattern. Now holding the trading region of Ichimoku zone at the level of 1.2065 level.



    Closed trade


    Name: closed position.PNG Views: 87 Size: 14.8 KB

    When I have seen that there is a downtrend that continued for EURUSD then my buy position of EURUSD was giving me a big loss of $88 so I took reverse sell of multiple positions for GBPUSD and EURUSD which worked properly and I have recovered those losses so quickly.

    The selling position of 1.2161 for EUURSD was a very good trade. If you look at the earlier trade of GBPUSD which was short scalping for a long time ago.



    Running trade


    Name: running position.PNG Views: 86 Size: 10.1 KB

    Look at the running trade position of EURUSD from the position at 1.2077 and that is a very nice positional trade I am holding and the target is 1.1985, the trend is running at 1.2066 here and the retracement might give more downtrend, and obviously, the next trading zone will be 1.1975-1.2000 level. Look at the Upcoming news which can affect the market heavily today.



    Exit position/target

    Name: trade tar.PNG Views: 85 Size: 63.5 KB


    The target position of EURUSD is at 1.1970 but it might possible to close at 1.1985 today and it all depends on the upcoming news impact.


    Important New today

    Name: important news today.PNG Views: 85 Size: 15.4 KB



    Trading strategy

    Name: trade.PNG Views: 87 Size: 54.4 KB

    Using the reverse trend trading and Bolinger bands indicator it was seen that there was a resistance level over 1.2167 but it was crossed that level and hold the position of 1.2170, somehow if you look at the trend formation which was consistently going up for the last several days and that was the hint that anytime price can reverse swing and the EUR news were came negative as a result price of EURUSD got down yesterday and I have said earlier that heavy vibration of USD index as being the main reason for a big range of movement for EURUSD.

    The reason behind entry position

    If you follow my previous trading update then I have taken the risk over 1.2171 level because the price was hit at 1.2178 and then swing back to 1.2165 and the nearest strong resistance level was 1.2190, if the break of that resistance happened then I will change my trade direction but later on the Fibonacci resistance level was reached 100 which having a very strong selling opportunity was created that moment. I have targeted the level of 1.2122 but the price came with a big swing back to 1.2050 today.

    Rejected

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  10. #4766 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone how are you?

    Last week was pretty good for me because I had pulled out a few dollars of profit and still my running trade of GBPUSD giving me a big floating loss. You know that last time I have made $300 of profit with support and reinstate the level of trading but it was giving me the loss right now because I didn't close my orders of EURUSD which is still on the selling position at 1.2077, there was a downtrend formed last Friday but I was not able to close those orders but overall the trade of EURUSD which I have closed brings profit of $27.

    Trading strategy

    Daily chart

    Name: 2.PNG Views: 425 Size: 52.9 KB

    H4 chart

    Name: 3.PNG Views: 68 Size: 47.7 KB

    The running trade is positional trade and soon the trend will get the change and drop to the level of 1.1973 which is the lower Bolinger bands support area of the D1 chart. The bullish trend channel boundary is working properly for the last few days and still, the chance is here that it can drop at the lower support level if USD news has some positive impact within this week. Last week we have seen that the USD index showed a big range of vibration as a result market prices were moved in a big range also for EURUSD. The weekly trading range between 1.2050-1.2182, bearish trend formed now.


    The reason behind entry position



    The entry position of EURUSD hold from 1.2077 level and gave me 77 pips of a negative situation and overall 0.3 lots of trade running. Previously I have closed the EURUSD order with $27 of profit just riding on the reverse trend trading that because of resistance over 1.2178 and 1.2190 was worked properly. It is seen that still, the bullish channel boundary works and selling position from 1.2144 can be a profitable trade opportunity for us.


    Running trade

    Name: 1.PNG Views: 70 Size: 12.9 KB

    The running position of EURUSD is now in a hard situation which is giving a floating loss of $203 but it was in a profitable situation last Friday. I have the plan to close those orders if the price down to 1.1985.

    Closed trade

    Name: 5.PNG Views: 69 Size: 5.3 KB

    here is a profitable trade of EURUSD and I made a short-term scalping last time.

    Exit position/target

    At this moment the primary target of EURUSD is to hold for the long-term situation and if the price got rejected from 1.2178 once again then I will open more positions of sell and the target level is 1.1985 for a long position and short position it can be 1.2065. The daily chart is showing the upper Bollinger bands resistance level over 1.2172 which is holding the price level till now.


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  12. #4767 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello dear traders how are you?

    Last week trading

    Name: last week.PNG Views: 128 Size: 8.0 KB

    I have closed two order of EURUSD which was on buy position at 1.2166 and sell from 1.2081. First when I saw that the buy position of 1.2166 was on top and the market has been changed the direction so I have decided to close that order with $88 of loss which was the correct decision for what I am thinking now. On the other hand, the position of selling from 1.2081 gave me $4.5 of loss. I had completely missed the market trend but overall the situation is really good for me because overall my equity is in a profitable situation. After all, I made $300 of profit last time.

    If you look at the market direction of last week then EURUSD was giving a big swing back to 1.2051 from the top position of 1.2171. This type of big swing happens in the last few days due to the heavy vibration of the USD index, USD news was giving a positive impact first but later on, it got a negative vibe.

    Trading strategy

    Name: 1.PNG Views: 62 Size: 56.8 KB

    That trade was for trend trading strategy and the price of EURUSD showed a big swing so still, there is a good chance it can down back to the support area of 1.2047. The breaking of position 1.2047 can give more selling pressure within this week and the primary target at 1.1965.

    Running trade

    Name: 12.PNG Views: 62 Size: 13.5 KB

    There are several trades I have opened still now from the position of 1.2077 level and the price is swing at 1.2145 before market closing and that is a very good sign that another swing happens soon so I will open a few more positions from the 1.2140 level aftermarket open tomorrow.


    The weekly chart is showing 1.2300 is the nearest resistance level and the lower support at 1.1780 and we can see the Ichimoku trading zone at 1.1945-1.2045 currently.

    It will be a perfect idea to hold a long-term sell position and soon the trading zone will be from 1.1685-1.1940 level what we are expecting from the technical chart analysis of W1.


    Thank you.

    Rejected

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  14. #4768 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    As I previously said, there was a long-term bearish trend that could build soon, but the market is already moving upward in a direction that began early this morning. For the last few years, the most effective indicator for me has been Bollinger bands and the price of EUR/USD, which moved at 1.2168 high and the resistance level I mentioned at 1.2300 in my chart review. Yes, if you look at the weekly chart, you will see that a bullish pattern has formed and that the price can continue to rise towards 1.2247. If the price rises above 1.2247, I can offer further sell trades.

    Trading strategy

    Name: 1.PNG Views: 46 Size: 33.4 KB


    Running trade position

    Name: trade.PNG Views: 257 Size: 17.7 KB

    As you can see, I have opened positional trades with a long-term target level of 1.1985 and a big loss of more than 88 pips per trade. But, I have opened a couple more positional trades with a long-term target level of 1.1985.

    Name: daily.PNG Views: 42 Size: 28.9 KB


    My current trading situation is weakening because I failed to close those orders when the price fell to 1.2052, and my trade was profitable at that stage, but I am aiming at a long-term trade situation.


    The upcoming CPI and PMI data for EUR may have a bigger effect on market conditions, but we'll have to wait for the next movement and trend-shifting moment. There would be several trading openings and setups, but for the time being, the bullish channel boundary I've been mentioning for many days is working well, so it was my mistake to hold that trade for the long term; otherwise, if I stick to the scalping approach, I should be able to make a decent profit.

    We'll have to wait a few days for the wide range of action because there will be a couple of high-impact news about the USD and EUR currencies released in the coming days, so focusing on those news and trend buying is a very acceptable and wise decision right now. I believe there is a clear trading opportunity for EUR/USD right now, and we should buy from 1.2165 with a goal of 1.2215.


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