Soul's Trading Journal

[lost-soul]

Simple Secrets of Successful Forex Trading
Dear colleague, Forex trading becomes simple and easy if you learn it correctly and operate like a professional, Forex trading can bring us a very high reward if we know how to trade and how to make money in the Forex market. , Every trader is interested in being a successful trader but very few traders achieve this milestone, the cause of this problem is that people do not try to understand the nature and logic of this market, Keep in mind that Forex is a very large business field, so take it as a profession if you want to be a successful trader,

Road to successful Forex trading
If you want to know and understand what is the path to successful Forex trading then you need to think like an expert trader, what do you really do to make big profits, if we try to learn and follow your rules then the chances are very high . that we can also be a successful Forex trader, it is very important to take this business as other businesses and try to understand the investment concept, if we have the basic knowledge, then we can start to make money easily, to be a successful Forex trader, we need adequate knowledge and information on the subject,
We need these components to be part of our business mindset
Personality traits
• Knowledge and information
• Patience
• Experience
• No Greed
• Define Goals and Targets
• Good Capital
If we have the factors listed above in a proper way, then there is no doubt that we can be profitable traders, and these are also necessary factors. If we have patience, we can perform really well in our trades, but if we do not have patience, we will soon lose everything. our financial capital employed in the Forex market. Having a good control of the greed factor is also important in the trading field, we can say that Forex is not for a greedy mind, we have to win step by step, nothing can be achieved in a few trading sessions, and the most critical factor is knowledge, and adequate information, the Forex market is based on the knowledge and information that comes from the global financial system, so we have to handle very massive data on a regular basis, so it is very important that we have the adequate capacity to evaluate this information in the right way so that we can make the right business decisions
Skills that lead us to success
• Trading strategy
• Ability to analyze
• Proper money management
• Plans and tactics
Developing a trading skill in the forex market plays an essential role in success, so we must learn and understand the usefulness of factors such as a trading plan, a strategy and tactics; If we have a proven business strategy then we can have better results. Trading results, while planning is also of great importance, if you don't plan, you plan to fail, so always come up with a good trading plan in the Forex market. The risk factor is also an essential factor, never risk more than the requirements, the risk / reward ratio must be established before starting any trade, and the most important thing is to learn about the concept of analysis. You need to have mastery over how to do a good analysis; There are three types of analysis in the market, namely
• Technical analysis
• Fundamental analysis
• Sentiment

Conclusion
Successful Forex trading is not impossible if you learn before you start trading, if you don't understand the Forex market, then how can you be a successful Forex trader? This is the question to ask yourself, it is very important. To be realistic, if you cannot invest in learning, then you should not invest in the Forex market, if you want successful Forex trading, you must learn to the fullest, always try to learn the ways that can help you complete the particular task, as a professional, if you have no professionalism then you are in the wrong field, because forex is very detrimental to the non-professional trader, so find out if you want a successful Forex trading

Thanks For Reading My Article

[lost-soul]

Hello, how are all the members of the Mt 5 family doing? I hope everyone is enjoying the new year. The past year was full of ups and downs and fear of the coronavirus, but things are expected to be normal soon. 2020 was a difficult year for everyone. The accumulated activity on the forum is slowing down due to some unknown admin behavior, let's see how things turn out from all of this in the coming days, I hope and wish that mt5 becomes what it was a couple of months ago so that we can have Much of the fruits of this great opportunity for all its members. As Mt5 is the best forum and nothing can beat the diversity of the Mt5 forum.” New year, no fear”
Market Observation: 01-5-2021
We turn to the unemployment data day on Friday, which plays an important role and one of the main factors affecting the trading decisions of the entire Forex market community; The next data is expected to remain neutral due to the low financial activity in the US economy, as the Coronavirus footprints are still everywhere, so this data will not reflect the real market position of the jobs available in the market. But this data can bring a lot of trend changes, if they have given any acceptable clues to the trading world, while Joe Biden will also join the office in January, so let's see how it impacts the market trends.
The Dollar Index
We have seen a very deep sell in the dollar index in recent days as low as $ 89.40, but now we can see the exhaustion in the market, so it is possible to expect a bullish reversal of these levels, the H4 chart shows divergence, so it is best to place bullish bets on the $ 90 dollar index because these levers no longer attract bears.
We have an important press release on 01-06-2021 - FOMC

And
Unemployment data for 01-08-2021 - NFP

Gold
Gold continually flies as the world continues to bleed due to the coronavirus, especially newer variants in the UK, so the trend is clearly pointing us to more gains in the upcoming trading sessions, but keep in mind that you take an entry of buy only if if you find a drop in the gold market because good price levels pay us more on trends, don't forget nothing is moving directly, generally gold is now entering the multi-year high trading zone. I am enclosing the weekly chart for the gold market where you can see a clear bullish breakout of the flag pattern, so stay in line with this breakout as we have a very good time on this breakout.

Trade like a pro and never stop learning until you learn everything which will never be possible, try to understand your skills and use them in your trading career.

Thanks For The Visit

[lost-soul]

Hi How Are You All
Trading Journal Update {06-01-2021}

Hope all mt 5 forum members are doing well dear fellows, as I mentioned earlier, the new year is ushering in with a new variant of the corona virus, so let's see how things unfold while everyone is trying to fight the virus. and hoping for an effective vaccine soon. This is also reflected in the behavior of the Forex market. We need to make our trading decisions wisely to avoid a complex situation in our operations. I recommend here an appropriate risk / reward ratio so that you can stay financially secure. do not take large commercial positions, because the market behavior is very aggressive and unpredictable at the moment


Market Conditions:
The Forex market is waiting for the most important data on Friday, the NFP, which has the tendency to give the market a long-term course, but the problem remains that the corona-virus is having its mark on the US labor market. So in such a situation we cannot have a true and fair picture of the unemployment situation in the United States, where the blockage and low financial activity in the economy are affecting all financial sectors. The payroll estimate is an increase of 100K in the US While the previous growth was 245K that shows us that the market expects a drop in the job count, which is not a false hope in such a situation.


What we have to today
We have important data known as "ISM Services PMI (Dec)" in the financial markets, which gives us a clue of UD's labor markets, we obtain information from the manufacturing sector through ISM services, which explains the financial conditions. and job growth. In the market, higher production growth leads to the creation of new jobs, so this is also an important piece of financial information that we are going to have today.

Gold
As I mentioned earlier, gold is having a clear breakout on the weekly chart, we can see a clear breakout of the flag on the weekly time frame, if you check the chart, the recent drop from $ 1960 stops at the weekly support of 1900 $, which is the top of the weekly flag that previously resistance now supports, so try to stay on the bullish side, and buying on dips is an appropriate law, it should be taken into account for better trading results in the market of the gold

Trend - Bullish
Chart situation on H4 - Consolidating
Momentum - Intact
Euro /USD
We have a similar situation to that of gold in the EUR / USD, this pair is also in a strong uptrend as the hemorrhage in the dollar index seems not to be over yet, but we have some divergence on the daily chart, the price is rising while the RSI is making a lower high, such a technical behavior is of great importance, so we need to pay attention to that as the breakout can be anywhere, so place a trade on such a situation is not the right idea, so it is better to stay on the sidelines, let the market take its direction first so that we can have a fashionable market, this is a professional reversal pattern, so please wait and watch here, take position only if you see a breakout of $ 1.2350 on the EUR / USD.

Trade if you have a trading wit; otherwise invest in demo trading, don't risk your capital if you have no idea how to trade like a pro. Learn first and then win. Thank you

Thanks For Reading My Article

[lost-soul]

Forex market is the largest field of business which can be a source of a rapid and massive financial gain. But this is not a simple task in reality, the most critical situation arise when we start greedy attitude. Trading is not a game of one day, it is a step by step growth so having a controlled attitude towards the greed is of a great importance while trading. Do not ruin your trading career becasue of greed because greed can hurt your trading psychology, if you want to control the factor of greed then you have to develop a good trading skill, and learn how to plan. Planning plays an important role in this field. If you can plan then you can control the greed factor very effectively, do not trade blindly, make some rules and follow them. This is the way that can lead you to the success in the Forex market.

[lost-soul]

The forex market is one of the largest field of business. Trading in the forex market is not an easy task. We have to assess and combat a very vast information and news coming out of the global financial world .To combat such a situations arise suddenly, we have to apply the stoploss. Stop loss plays an important role for a security of trading capital. It is not an easy task to cut the losses manually. Stoploss is an automated function that can be settle as per one's ability and capacity to bear loss in the Forex market. If you are not a fan of the stoploss then you need to consider it for a more confident trading in the forex market, thanks

[lost-soul]

Hello how is everyone? Hope all mt 5 forum members are fit and well, as I mentioned above, the new year bonus is coming soon and now all members have a very good bonus and I am also surprised to see the bonus of few fellow members, so let's see how things unfold as everyone tries to fight for a better bonus from this great forum to post and expects an effective trading result soon. This is also reflected in the behavior of the forum rules and regulations, things have not yet been fully clarified. We need to do our posts wisely to avoid a complex situation in our operations. I would like to recommend appropriate posting behavior here so you can stay safe as I see too many bans today. Don't take posts in terms of quantity, just focus on quality here now, because management behavior is very aggressive and unpredictable at the moment, Best of luck for the next bonus to all my colleagues, Thank you

Market Conditions:
The Forex market is showing a very aggressive start if we look at the behavior of commodity price action as we have more infected people in hospitals around the world and the vaccine slogans are not fully effective right now, so further complications are expected. In the short term, such rapid and massive price movements is commonplace in today's global health and economic conditions, while Trump is a past and a closed history now, and all eyes are on Joe Biden now, so the Jannet Yellen's nomination was coined in the US to head the Fed, so let's see how the market takes the news for the long-term perspective, Yellen has a track record of a weak dollar nominal price, so things go well for the Gold Bulls in the long term, this will also translate in the forex market in the next trading era, in general, the long-term bullish fundamentals of gold remain intact, nothing has changed in this approach towards commodity prices cousins. We can say that the dollar is now a long-term bear market because the wounds of the coronavirus will not be eradicated sooner. Things remain ambiguous for the global financial system.

What economic News we have to today
As we all know that mainly the first trading day of each week offers low impact news and events, so we have less news and events from the international economic calendar, we only have the Euro group meeting, which is expected to have a very low impact. . In global financial activities, we will now have to make our business decisions on the basis of technical aspects rather than fundamentals, except that something out of the book takes place in the world.

Gold
We have experienced a very aggressive trading start in the gold market and we have a dip towards critical support at the long-term support trend line if we connect $ 1444-$ 1768 on the daily time frame, $ 1804 is strong support.

Bounce at this point is having great importance, but if we look at the lower chart, we can see a clear divergence pattern in the $ 1804 price zone comparing to the previous low at $ 1815, while the RSI shows a different view at the moment. The market is making lower lows while the RSI technical indicator is recording a higher low, this is a clear indication that the bears have run out of fuel at the moment, so follow the price action and news behind such an aggressive U-turn in the gold market. It is telling us an expected bullish movement in the gold market. Selling positions are not recommended, as far as I'm concerned at the moment. Gold is showing a reversal in price in the current price zone.

Trend - Neutral
Chart situation - Consolidating
Momentum - Divergence
Major Currency pairs
We are having a drop in the price of EUR USD and GBP / USD at the moment, which is expected to be sustained soon, as the dollar index is pulling back at the moment, but there are no signs of a change in the bearish in the long term. . , so 1.2000 is an important support for the EUR / USD in my opinion, so we can have a reversal of a short-term sell in the uptrend in the pairs against the dollar index in the next trading days. GBP / USD is also consolidating after posting a higher high at $ 1.3715, this pair is still in the uptrend so stay cautious when taking any sell entry.

Note:
Trade if you have a trading skill; otherwise demo trading needs to be done before actual trading starts, don't risk your capital without learning. If you have no idea about trading, start learning, this is the right way. Learning generates profit. Thank you

Thanks For The Visit

[lost-soul]

Any Idea about the contest bonus guys ?

[lost-soul]

Update for 20-01-2021
Hello, how is everyone? I hope everyone is enjoying their trading and life is going in the right direction, today the Mt 5 forum and Insta Forex have awarded the bonus for the contest, I also received a $ 100 bonus in the contest section, which is Re-treatable, for which I am grateful to the Mt 5 forum for giving me a good amount of gifts for my post in the contest section, this was a new section for me, from now on I will try to work more professionally, so I can have a good return on my investment of posts in the Contest section. This is a great forum and there's no question about that, so all of us who work here must work hard to capitalize on this opportunity and bring in more dollars in exchange for our work. Here, we must all own this forum, and we can all take this forum to new heights together. This is our moral duty to be fair and work hard to achieve our goals and objectives.

Market Conditions:
The Forex market is in silent mode after showing a very aggressive behavior at the beginning of the week, especially in the Gold market, but now things are calm and fresh, the appointment of Yellen was coined by the administration of Joe Biden, for That Gold has shown us a massive movement at the start of the current week. But it seems that the market has absorbed the news, US interest rates are at their all-time low and there is no situational change in the global economy, so we may have a long-term downtrend in the dollar market, and if we have a dollar price, then we will have non-economic gold prices since both are negatively correlated with each other, while a cheap dollar can generate demand for black gold (crude oil) as well. But we need a world free of the Corona-virus, which is not on the cards so far, things are not clear about the future of the corona-virus, so things seem difficult for the new American administration, while the world will have a war of fewer taxes between the United States and China, which is positive for the world economy.

Economic Calendar Updates
Tomorrow we have an important political event, the presidential inauguration is one of the important events for the global political and financial community, there is much hope for those who were not satisfied with the unpredictable Mr. Trump, there has been much turmoil in the world politically and economically, so expectations are high in that context, so there will also be an important day for global traders, so the trade must be well calculated as many movements cannot be ruled out. A new administration will bring a lot of new policies, so we may have different market trends in the next business months.

Gold

As I mentioned earlier, gold is trending long-term uptrend, Monday's open was very aggressive, but after the market is quiet because we have a major event tomorrow, after posting a low of $ 1809 which is the 76% Fib if we take the last bullish leg, here comes long-term trend line support as well, but as I mentioned in my last update, we have a bullish divergence here, so the expectation of a trend resumption Bullish is not an unfair approach at the moment, while the dollar is also losing ground, gold is very likely to head towards $ 1860, which is 61.8% Fib, which previously was now supporting significant resistance. But overall, the fundamentals are in line with the bulls, so selling is not the right approach based on the evidence available on current fundamentals and charts. The RSI and MACD are in a neutral stance at the moment, but the sell from the current price zone looks weak at the moment.

Long Term Trend - Bullish
Chart situation on H4 - Consolidating
Momentum - Neural

Euro /USD
We have a situation equal to that of gold in the EUR / USD, the EUR / USD pair is also in a strong upward movement as the dollar index is consolidating its loss in price value, the dollar index is continuously losing its brightness due to a sharp rise in the corona-virus in the United States and around the world, while the elections were also a complicated event for the American economy. Things seem to be better politically, but nothing has changed in the case of the corona-virus, so a further devaluation of the dollar is looming. $ 1.2058 has proven to be an important support for the EUR / USD and we can see the completion of a three-wave retracement in this pair, now this pair seems to resume its uptrend. All eyes are now on the Presidential Inauguration, so wait and watch and things will clear up after the Presidential Inauguration tomorrow.

Important Note:
Trading is an art of possibilities, if you are trading based on reasoning and logic then you are on the right side, but if you are having a consistent loss, why do not you try to learn how to earn?

Thanks For The Visit

[lost-soul]

Update for 21-01-2021
Dear members of the mt5 forum community, how are you? Hope everyone is doing well and better than ever. I would like to tell you that mt5 is not a fun place, so please take this as an opportunity for you to get the true benefit of this option or a great opportunity to learn and understand the pros and cons of trading as a business field in the contemporary world, never take it as free money, the voucher is a real gift, so please respect this option and use it correctly. way. We can achieve our goals and objectives if we try to apply the bonus funds correctly. Therefore, the Mt5 forum should be taken as a great opportunity.

Withdraw Received
Today I received my Withdraw and I am grateful to the Insta Forex forum and Mt5 for giving me such an opportunity, these kinds of achievements are important for those who are trying to work and share their skills. This is kind of a thank you for our work so many thanks to those who started this forum, this is a great idea and it should stick around forever.

Market Conditions:
The Forex market is a business, where we all need to keep up with the latest developments, and this is how we can better understand the market situation, and today is an important day for the whole world because Joe Biden occupies the driving seat in the United States of America. This is an important event and will affect market trends and behaviors in the long run. We will have a new shape in global political and economic relations. Trump is past, deal is finished, and now is a new era. We need to consider this an important event for the upcoming global situations in every way, after a deep split in society, Joe Biden will work to enhance the United States' share in international relations, and we will have more cooperation in the world compared to the era of Donald Trump, so these things will translate into market sentiments. And long-term trends too, there is a big difference between the policy of these two departments. So let's see how things will go in the coming trading weeks. The new management policies will deeply influence the future trends of the forex market; New government means new fiscal policies. So we can say that from today, we will have a new era in the forex market as well.

Economic Calendar Updates
Tomorrow we have an important economic event. We will have an important announcement on monetary policy from the European Union. The interest rate decision by the European Central Bank tends to affect the forex market and create volatile movement; There is no expectation of a change in policy as the European Union is going through the lowest interest rate era. While investors will be looking for the expected change in policy as well, as the Coronavirus is still in the driving seat, and the global economy is still in a bleeding phase. So the ECB rate decision is a major event tomorrow and traders will take this as a guide to further market trends in the future.

Gold

As I mentioned earlier, gold is heading in a long-term bullish trend, and the opening of the week was very surprising, but after that, the market was quiet because we have a big event today, after hitting the low of $ 1809 which is 76% Fibonacci if we were to take the last bullish leg, now We have a reversal in the short-term downward movement, below the image that tells the story in detail

Gold has been in a bullish mood for many fundamentals, and the main factor is the impact of the Coronavirus and its impact on the global economy, which is the way to more economic support packages for economies, and it is the most popular fuel for gold speculators. After breaching the descending channel at $ 1850. The door is open for further gains in gold prices in the upcoming trading sessions. It appears that gold is once again heading towards the psychological barrier of $ 1900 again

Long Term Trend - Bullish
Chart situation on H4 – 1850$ resistance is taken out
Momentum - Bullish
Currency market
We are facing a strong reversal in the EUR / USD and GBP / USD and the EUR / USD and GBP / USD failed to extend the weekly recovery and motivate the sellers to return to the market and return to below 1.2100 and GBP / USD to 1.3620, we can see that the pound GBP / USD is facing triple-top resistance at $ 1.3700, which is a strong resistance, but in both pairs, nothing has changed fundamentally and the long-term uptrend remains intact, and this can be viewed as an opportunity to enter the market as a good price buyer.
Important Note:
Learn to trade because learning is the only way to profit, if you do not understand something, you can understand, who is trying is on the right side, be positive, thanks

Thanks For The Visit

[lost-soul]

Update for 22-01-2021
Hi, how are all the Mt 5 forum members and forum visitors? I hope you are doing well. Mt 5 forum is applying new rules and regulations regularly, things are not clear yet, but we will have a clear picture soon, this is a great forum, and we must obey the rules and regulation because the rules play an important role in quality work, I hope these things are productive for all of us in the end. I wish all the members of Mt 5 good luck with your work in the field of Forex and Mt 5 forum.
Bonus for quality
We have a new rule or a new bonus section for the quality bonus, it has not been fully explained yet, but this will be a good filter to avoid spammers in the future, more competition is not a bad idea, the one with skills, must be a winner in the end.

Market conditions:
We have a lot of executive orders from the Joe Biden administration reversing the decisions of the Trump administration, these orders generally relate to the global political issue, economic decisions have yet to be developed, so things will be interesting in the next few business weeks. On the other hand, the Corona-virus is not losing steam and new cases are increasing daily, if look at the graph, the UK and the US are the most affected nations, the vaccine is in, but the impact of the Corona-virus is not eradicated so far. This is the main fuel for the markets of the contemporary world. The global economy will not recover until we have a cure for the corona-virus.
Economic Calendar Updates
We have very little economic news for today, but we have an important speech from the new president. Mr. Joe Biden is going to deliver his first official speech after taking control of the white house, so the markets will be looking for clues about his statements of economic policy, and clues to his master plan as president. This is an important event for the global community because each new administration brings new rules and laws, high volatility is expected, so please trade cautiously in the next trading hours.

Gold updates

Today we have a consolidation phase in the recent bullish movement in the Gold market, we have a decent drop in the prices towards $ 1810 at the beginning of a trading week, then there was a strong rebound to $ 1874, today the market is consolidating, and forming a bullish flag, the market can resume the bullish movement from the $ 1840 price area, as there is no change in fundamentals and techniques in the market. If we look at the charts, the ABC correction pattern is forming, which may push the market towards $ 1,900, a major psychological price barrier.

Trend: Bullish
Momentum: Consolidating
GBP/ USD Updates
GBP / USD is also trending bullish for a couple of trading weeks, but now the market is having less momentum. If we look at the chart, the market is making a triple top at the resistance zone of $ 1.3700, $ 1.3600. It will be of great importance now and critical support for the bulls in the next trading sessions, things are neutral so far. It is better to wait for a clearer direction in GBP / USD before making any trading decisions. The general trend remains intact.

Important note
Dear forum colleagues and visitors, please note that “there are many slips between a cup and lips” so when you have a loss, rethink your trading strategies, do not lead the market, always follow the trend, if you are missing something as an expert trader, try to get and be a professional trader. Thank you

Thanks For The Visit

[lost-soul]

Update for 25-01-2021
Hi, how is everyone? I hope every Mt 5 Forum member and my visitors are well and have fun with their trading, and life goes on with a lot of positive things. Sunday is coming to an end and we will have another trading week full of opportunities and expectations, hopefully, all of us will have many profitable trades and financial gains in the next trading week. I am trying my best, to follow the new posting rules and regulations, so that you can have a negotiable bonus next time, the bonus is a great opportunity to trade in the Forex market, so we have to respect this forum. We have to understand that the rules are always good in the end, so don't be disappointed with the new rules, just try to understand. The quality bonus is another rule in action now, I wish you good luck for trading and posting.


Market Conditions:
The latest developments that took place in the United States after Joe Biden took over as president, the key issue is an attempt to get the $ 1.8 trillion stimulus package through the United States Senate. It is highly anticipated that in the coming days we will have an eventual $ 1 trillion pass. The balance of power in the Senate is not in line with the Joe Biden administration. On the other hand, the global economy is struggling. The impact of the coronavirus is increasing and so far there is no practical cure. Hopes are high for an effective vaccine, new coronavirus variants are harming the UK, the health system is under pressure. The concept of blocking does not seem effective. So the only cure is the possible vaccine. Until then, expecting a global economic recovery is not pragmatic.


Economic Calendar Updates
Tomorrow we will have a major economic event, the release of the BOJ monetary policy meeting minutes, the investment, and trade community is considering the central bank reports very carefully so that they can understand the expected change in policies after the damage caused by the corona-virus. There is no change in political expectations, but the transcript will provide some clues to future policy measures. On the other hand, the number of corona virus cases play an important role on the daily basis. The increase in the cases means more damage to the global economy, so things are not appropriate for the contemporary world. On the other hand, the debate on the stimulus package also plays an important role. The stimulus package will be an important and lasting fuel for the gold bulls, in such a scenario, we will have a long-term bearish trend in the dollar index for a week.

Gold

As mentioned earlier, Gold is the long-term bull market and nothing has changed in terms of long-term fundamentals such as corona-virus and global economic conditions, the gold market is consolidating its bullish reversal from the important support. at the price zone of $ 1810 and above, bullish moves are expected in the next trading week. The market is expected to reach a major price zone of $ 1900 in the next trading days. So buying down would be the best trading approach, there is less chance of a price drop until we hit the key $ 1900 targets. An uptrend is intact and the momentum is favoring the bulls.

Long Term Trend - Bullish
Chart situation on H4 – Flag pattern
Momentum - Neural

Euro /USD
We have a similar situation to the gold market in the EUR / USD pair. EUR / USD is also reversing the short-term bearish trend, as the long-term bullish trend is still intact. EUR / USD. $ 1.2240 is the next price target according to the ABC retracement rule, so it is better to look for buying opportunities in EUR / USD, there is no point in making a trade sell in this pair, there is a possibility of a bearish resumption of the trend of the dollar index because sooner or later we will have the stimulus package.

Important Note:
Never try to trade without proper planning and risk management, trust yourself, your eyes are the best indicator, if you have discipline and patience then you have everything to be a successful trader in the Forex market.

Thanks for the Visit

[lost-soul]

Trading Journal Update: 26-01-2021
Hi, how are my dearest Mt 5 forum members and forum visitors doing? I hope everyone has a great time. Dear readers, the Mt 5 forum is a great place for all of us who are interested in growing as a trader in the Forex market. This forum is a place where we can show our ability to converse in context with knowledge and information about the Forex market. I would like to welcome all non-member readers to join this forum and share their professional skills. This forum is all about sharing our knowledge, which can be a light for newbies who are struggling in their trade. We can exchange our knowledge. This is a great avenue for experts and newbies to the Forex market. On the other hand, I am glad that all my posts have been approved by the Mt 5 forum team; I hope this improves the forum's ability to convey good knowledge to the entire world.
Global fundamental updates
If we look at the global financial and economic news and events, the key issue of the Corona-virus takes center stage, and the global infection rate is not decreasing so far. The new variant in the UK is deeply damaging the Health sector. While shocks to the British economy are yet to come in the future, on the other hand, the United States and the other major economies are struggling very poorly, and economic recovery is a long way off. This is a complicated situation, the hype for the vaccine has not materialized so far, but there is a good chance that we will have an effective corona-virus vaccine shortly. Global economic recovery is uncertain in the first quarter of 2021. On the other hand, the most anticipated stimulus package in the US is still under debate, which will be an important fuel for the Forex market. Rescue packages are always welcomed by the investment community. Sooner or later, the new American administration under Joe Biden will get this approval, which will be the cause of a significant movement in the Forex market.
Economic Calendar updates
Tomorrow we will have important economic news releases, durable goods orders, and interest rate decisions from the FOMC. This will be an important day for traders because this financial news tends to provide great fuel for market movements., Durable goods orders are expected to decline slightly, on the other hand, there are no expectations of an interest rate change for part of the FED authorities, but the press release will be watched closely because we will have Ms. Janet Yellen back in the office. Market participants are also expecting new leads from the new management in the US This is a major economic event, so trade with an appropriate risk-reward ratio.

Gold Market Technical updates

The gold market has shown very little movement in the market if we look at the price action of the current week. It looks like the gold market is in a consolidation phase after making a strong 78% fib bounce from the current bull leg. Gold is forming a bullish flag on the lower chart time frame. $ 1874 seems to be the first leg up and once this bounce which is leg B consolidates, then there is a good chance that gold prices will resume the bull leg C, which can bring prices closer to a significant zone of 1900 psychological prices. PS Overall, the key trend in action is intact, this is a technical consolidation and we will have another bullish leg, once the setup is complete. There is one less piece of evidence available for bears in the charts. Maintaining a buy position is worth more than selling in the current market situation.

Trend: Bullish
Momentum: Consolidation
MACD and RSI: Neutral
Currency Market Updates
If we look at the Forex market, GBP / USD and EUR / USD, which are a major currency pair, we have very limited price movement on the EUR / USD despite the EU monetary minute releases. The price charts on the EUR / USD say nothing special and the market is consolidating its uptrend. $ 1.2050 is an important support for the bulls, and prices are now stable at these levels, while GBP / USD is in a strong uptrend and is reaching a higher high. $ 1.3720 is showing strong resistance, but there are no signs of reversal, showing commitment from the bulls, so a further bull run in GBP / USD cannot be ruled out in the upcoming trading sessions. We have important financial data tomorrow that can be a good source of price movement, so the consolidation here on key trading instruments is worth looking at.

Important Note
Dear readers, the Forex market is an important business field, where we can make a lot of money with less effort, but only if you have good trading skills, all you have to do is show some hard work and devotion so that you can a professional trader. If you make things right, nothing can stop you.

Thanks for the Visit

[lost-soul]

Trading Journal Update: 28-01-2021

Hello, how are you all? I hope that all the members of the Mt 5 forum are fit and well, I hope you have a good trading activity; hopefully, you will always have a lot of trading opportunities and get the maximum results in trading. The new rules are not fixed in our most beloved Mt5 forum, the last rule to claim the post seems interesting but little but slow. Most people are unclear on the requirement. What we have to understand is that there is a content criterion. It is highly recommended to follow the set of rules so that you can get the desired results. If you don't get approved, the post has no benefit. So be clear about the quality of the content. Negative arguments don't help us. Always try to show a positive attitude. The Mt 5 forum is a great avenue for all of us. Respect everyone.

Global Fundamentals:
The contemporary world is going through the worst health problem and the coronavirus is causing many problems around the world, most of the countries are having an economic blockade. And the UK is the key economies in the world facing a difficult situation, where the death toll continues to rise and health facilities are also under constraints. Hope for a solution is high, but the economic bleeding is reaching its peak. The impact of such a situation will last too long. The fear of new variants downplaying the hope of a vaccine in the world. It is getting complicated and the economic recovery is out of the question of the global financial world. On the other hand, there is political stability after a transition of power in the US And Joe Biden is now in the driver's seat. This is expected to improve in the US economically and politically as well.

What economic news we have today
the Forex market is too close to have the most important financial data release, the Federal Reserve's interest rate decision. We can see a lot of price fluctuations before the launch because this is the first meeting of the FOMC after the new elections and the new administration in the US Forex market participants will be on the lookout for these events in the future based on models and forecasts the FED's financial statements. A high level of activity is expected in the market. The Federal Reserve is willing to leave its bond-purchase plan unchanged and no change in interest rate is expected. The FOMC plays a central role in US economic decision-making. So we will have a road map for the future in the press release. Trade with caution and proper risk-reward calculation is a must.

Gold

The price action in the gold market does not change compared to previous trading sessions. We are in a consolidation phase before the FOMC. The market falls towards $ 1,830 in the previous trading hours but recovered most of the losses in price. That was a buy entry opportunity in my opinion because the overall trend seems to have a bullish bias at least for short-term trading. There is a bullish flag setup in play, and the breakout is expected once we have the press release from the FOMC. The target in the gold market seems to be heading towards $ 1900 in the next trading sessions. The momentum indicators show very little information. All eyes are on the Fed. I expect a bullish breakout in gold prices. Let's see how things play out after a couple of minutes.

Trend – Long-term bullish
Chart situation – Consolidating-Bullish flag setup
Momentum – Neutral

Major Currency pairs
we also have a similar situation in the Forex market. The major currency pair fell and also recovered its losses, this is called storm before the storm. We usually have this kind of price behavior before a major press release and traders take it as an opportunity to get into a good price level. This is a quick throwback. GBP / USD has strong resistance at $ 1.3700 and a triple top is in place.

The chart structure is very strong, there is a good chance that the market will break in favor of the bulls, $ 1.3780 is expected in the next trading sessions if we have a bullish breakout. EUR / USD also provided a good entry point at $ 1.2050, where market participants have shown interest. Now that the position has been taken, it is time to wait and keep an eye on the FOMC.
Note:
Do not try to make an entry according to your desire, always try to understand the desire of the market, which is known as a trend. If you know and understand the concept of trend, then your trading will be much better, don't go against the trend. Trading is about your decisions. Decide carefully.

Thanks For the Visit

[lost-soul]

Trading journal update 29-01-2021
Hello Mt 5 forum members and dearest forum visitors, I hope you are all enjoying your life. I have been trying to provide the best analysis on my favorite trading instruments so, hoping all my readers will enjoy it, I try to be smart, sweet, and simple so that all readers can use my analysis for a better trading decision. This is a great forum and it is good that the analysis of the experienced members can be used as a reference for traders as a filter in decision making to strengthen their analysis. In my opinion, the Mt 5 Forum is the best place to have a comprehensive dialogue on the pros and cons of trade. We must also conduct ourselves as a professional, whether you are posting or marketing. Nice to see the very good post content coming up now. So please share the best knowledge and information so that we can be a source of inspiration and people can benefit from the Mt 5 forum in a real way. Respect others and demonstrate your ability to communicate rationally, together we can make this forum the best place for Forex-based discussion around the world.
Global Fundamental Analysis
We have passed a major economic news release of the Federal Reserve Interest Rate Decision. Which is a key piece of information about the economic situation in the United States. Nothing special is delivered in the FOMC press release. When we have a new government in action, it is obvious that a major policy change is out of the list and it is too early to expect any major change in the policy. That is why there was nothing new in the FOMC data. We will have Mrs. Janet Yellen back in the office soon. Until then, we will have no key changes in Fed policy. On the other hand, cases of Corona-virus remain alarming and the future is ambiguous. Vaccines are distributed all over the world. I hope that we will have control over the corona-virus issue in the future. The UK government is applying new restrictions on movement due to an increase in the new variant of the corona-virus. Nothing is new in terms of global economic recovery and so far everything is up in the air.
Economic Calendar Updates
The Forex market showed little interest in the FOMC news release, but today we saw a nice price move in the release of US GDP data. From here we enter the last working day of the week. Friday is known to be the most unpredictable day of trading, and the markets usually behave unreasonably. We don't have major financial data on the economic calendar today, and the Michigan consumer confidence index and personal spending data will provide less fuel for price movements. Therefore, chances are high that the market will continue its movement on a technical basis.

Gold Market Technical analysis
We have a breakout in gold prices, as I mentioned earlier about a bullish flag setup. This was a good price model and a very tight fit. Besides, the decline in the gold market was not a reflection.

I've said all this week that the gold market is in a long-term bullish trend, so buying on dips is the only option. The $ 1830 level appears to be important support now that it comes in at the $ 1810 pivot point. The gold market breakout failed to sustain. But the prices are in the buying area now. More upside remains intact, targeting $ 1900. If we look at the weekly candlestick, we can assume that we will get a morning star candlestick pattern, as the market works to consolidate its gains on the weekly chart. In my view, there is a great chance of a continuation of the bullish trend in the coming week.

• Trend: Consolidation
• Momentum: Neutral
• MACD and RSI: Neutral

Major Currency Pairs
We have interesting behavior in the major currency pairs. If we take GBP / USD as a prime example, we have very sideways trading behavior in the GBP / USD, and 1.3630 was a major support area shown in the image. The bulls showed their strength and the GBP / USD rebounded sharply. The market has now returned to its resistance area as $ 1.3740 is having a rough time. The market will close in this area, indicating that a bullish breakout is on the way. It is highly recommended to trade with caution in the event of a breakout to avoid a false breakout.

On the other hand, the price behavior of the EUR / USD pair is not that impressive and a moderate movement can be seen. We have an inside bar pattern in the EUR / USD pair, $ 1.2190 which is an important resistance area to watch. If this price barrier is removed, there will be a rally towards $ 1.2300 which is the 78.6% Fibonacci target. The EUR / USD is showing less movement compared to the GBP / USD.

Important Tip For Today
Dear readers. Bear in mind that today's winners were yesterday's losers, so if you are facing losses, it is clear that you lack professional trading skills. But the good news is that you can learn how to trade properly. Time to make the right decision, start learning and you will get a lot of profit. do it.

Thanks for the Visit