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Thread: Donimole247傍rading Journal

  1. #21 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone! Welcome to today's episode of my trading journal.


    Schedule News for today.

    There is going to be an Inflation threat today in the USA, as all economic data and sentiments will be on the latest CPI data released. The released data today could force the Fed to begin unwinding stimulus soon as price pressures is on the rise. Also, today in Washington, the proposed trillion Dollars infrastructural deal by President Joe Biden would be in focus, as market participants will observe negotiations between the Democrats and Republicans.

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    Update on active trades.

    EUR/GBP:

    My price action bias this morning against EUR/GBP, is that this pair has the opportunity to continue targeting the resistance level of 0.8670, if the price is able to stay above the support level of 0.8556 (a break lower of this support level would be potentially enough to trigger a sell-off against EUR/GBP, testing the next support level 0.8467).

    H4:

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    On the H4 time frame, there is a possible tendency for the price to experience retracement. Yesterday, during the London session the price broke through the trend line at 0.8626, reaching an all time high this week at 0.8637. Currently, the entry price for this pair is at 0.8621 with possible pullback tendency, leaving me with 10 pips in profit.

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    H1:

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    On this time frame, the price is forming a side ward movement below the trend line.

    This buying has the potential to continue this morning in testing the resistance area at 0.8670, as long as the price is unable to break the support levels. However, this potential upside setup of mine could fail if the price is able to move lower than the support area at 0.8556, then EUR/GBP has the potential to be sold to test the next support at 0.8467.


    That's all for today. Stay safe friends.

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  3. #22 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello greatforumers! Wishing a happy trading holiday to everyone. I feel so glad to honor my journal space today, after a while. As we anticipate the opening of the market today, let us endeavor to prepare a good trading plan for this week and ahead. Good luck everyone.

    Schedule high impact news for this week.

    🇯🇵 JPY - Japan Core Machinery Orders.
    🇯🇵 JPY - Japan Trade Balance.

    🇨🇳 CNH - China Industrial Production.
    🇨🇳 CNH - Chinese Unemployment Rate.

    🇦🇺 AUD - 🏦 RBA Meeting Minutes 🏦
    🇦🇺 AUD - Australia Unemployment Rate.

    🇳🇿 NZD - New Zealand Current Account
    🇳🇿 NZD - New Zealand (GDP) QoQ

    🇬🇧 GBP - U.K. Core (CPI) & (PPI).
    🇬🇧 GBP - U.K. Unemployment Rate.
    🇬🇧 GBP - U.K. Core U.K. Retail Sales.

    🇨🇭 CHF - Switzerland Interest Rate.

    🇳🇴 NOK - Norway Interest Rate.

    🇪🇺 EUR - Eurozone Core (CPI).

    🇹🇷 TRY - Turkey Interest Rate.

    🇺🇸 USD - U.S. Core (PPI).
    🇺🇸 USD - U.S. Core Retail Sales.
    🇺🇸 USD - U.S. Philadelphia Manufacturing index.
    🇺🇸 USD - Fed Interest Rate Decision.
    🇺🇸 USD - FOMC Meeting Minutes.

    🇨🇦 CAD - Canada Core (CPI)

    🛢 U.S. Crude Oil Inventories.



    Trading plan for the week.


    GBP/CAD:

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    On the weekly chart, it can be seen above that the price action bias for the GBP/CAD pair has been trading within a narrow range since last month. Last week, we saw the GBP/CAD pair trading with high indecision and consolidations (The CAD got weaker and weaker, as compared to the stable strength of the GBP) on the H4 time frame.

    Name: Screenshot_20210613-201653.png Views: 49 Size: 66.0 KB

    The weak Canadian dollar sentiment was due to the fact that big institutions are adding longer trades on CAD, so we can accept a move to the downside as there is a high chance for price to break the support channel.

    H4:

    Name: Screenshot_20210613-201750.png Views: 47 Size: 55.6 KB

    A bearish breakout on the hourly time frame will trigger a bearish move to 1.648 level. Alternatively, if the prices fails to break the support channel at 1.7003, the next swing move will lead to a bullish continuation to 1.7363 resistance level. And I think that once we see a proper retest of the resistance area at 1.7173, the pair will fall to the support area. Potentially breaking it and going on a downward trend.


    Market Potentials: GBP/CAD.

    GBP/CAD has the opportunity to be sold in the short term to test the closest support level at 1.7003, a break below this level would likely to trigger further decline to test the next support at 1.6848 level.
    The GBP/CAD pair has the potential to move downward in the short term amid a strong sentiment in the Pounds sterling on the back of her economic recovery plan. So, this week I will be going short on the GBP/CAD pair, once the market opens with the following trading setups;

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    Entry price: 1.7153.

    Position: Short.

    Time frame: M30.

    Stop loss: 1.7183.

    Target price: 1.7104.


    Support: 1.68481.7003.

    Resistance: 1.71731.7363.


    That's all for today friends. Thanks

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  5. #23 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone! Welcome to my journal update.

    This week it seems that it would be critical for many pairs, as the price behavior is on consolidation, which will determine the trend for the coming months for some pairs.
    Today I will be sharing my price action analysis for Gold against the United States Dollar (XAU/USD), which will be the trading opportunities (in my opinion) for those seeking a long term investment on the metal (Gold).

    We will also take a look at my running trades on the EUR/GBP pair today.


    Technical analysis: XAU/USD

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    Gold is retesting a breakout on the monthly time frame. Gold will likely bounce back and end the month on a bullish momentum as indicated on the monthly time frame (hitting a higher price in recent times at 2082).

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    After breaking the support line on the daily time frame, gold is expected to have a retest of the breakout today. Likewise, a rejection at the retest zone around 18871896, will see gold plunging to 1853 and if that support zone holds for a while, we would have a range before it decides to fall further down to 18441824.

    Update on my trades.

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    Looking at today's news, the expected bullish rally on the EUR will be as a result of the Industrial output, as it's a leading indicator of the growth in the economy of the Euro-zone. Although, the news will be of mild impact today, as production data has already been released by France and Germany.


    Active trades: EUR/GBP.


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    My trading transaction on the EUR/GBP pair is still open. The pair is trending downward (at the moment of writing this post), with a support area at 0.8566.

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    Last week, we saw the Euro against the Pounds sterling (initially) tried to rally upward on the H4 time frame, but before the close of the market on Friday, it sold off quite drastically. At this point, it looks as if the Euro will probably continue to drift lower, perhaps reaching towards the 0.8556 support area. That is an area that I think does have a significant amount of support attached to it, though, so pay close attention to it for a potential bounce to a bullish movement. What do you think friends?


    Thanks for reading this episode of my trading journal as I look forward to your comments friends.

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  7. #24 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone! Trust you are all doing great and trading profitably?

    Name: Screenshot_20210615-131309.png Views: 45 Size: 76.3 KB

    Today, I have opened a buy order on the GBP/USD pair. The GBP/USD is currently trading with the market price at 1.4085. As you can see on the H4 time frame above, the market trend for this pair is moving sideways, but I believe this pair has the potential to breakthrough or touch the resistance level at 1.4247 within the week.


    Name: Screenshot_20210615-131229.png Views: 42 Size: 46.0 KB

    Also, on the M30 time frame, the price has broken the downtrend pattern, and is on a bullish confirmation (at the moment of writing this post), hence the reason for my price action bias (buy), as all multiple time frame was analyzed correctly.


    Entry: 1.4085

    Position: Long

    Time frame: M30

    Target: 1.4112 (manually closed at desired profit)

    Stop loss: 1.4065.


    Schedule News for today.

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    The U.S. today will release its May data on retail sales and producer price inflation. These economic data coming from the United States will definitely make an impact on the stability of the United States dollar index. Also, today is the industrial production data release which will be closely watched by investors in the midst of lingering issues over supply constraints and labor market shortages. This data could literally translate into increases in producer price inflation.

    There's going to be a wide speculation against the persistent inflation spikes, which could pressure the Central Bank to roll out its stimulus as sooner than expected, which will be translated on the Fed meeting reports as investors awaits its conclusion tomorrow.


    Update on trades.

    Active trades: EUR/GBP.


    My buy position on the EUR/GBP is still running with market price at 0.8610. Meanwhile, I have seen the market going against my position today, but at the moment, I still maintain a swing approach on this pair.

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    My price action bias for this pair is based on the fact that price has not broken the support channel at 0.8556 on the daily time frame and also all entry signals (buy) for this pair has been met.

    That's all for today friends. Thanks

    Rejected

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  9. #25 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone! Welcome to my trading journal update today. It's been a while since I'd visited my trading journal. Trust you are all doing great today, and trading profitably? Ok, back to my analysis.

    Schedule News for Today.

    Name: Screenshot_20210914-085757.png Views: 22 Size: 128.8 KB

    Looking at today's news (which is mostly of weak impact), with market focus on the U.S. economic data, today痴 stats from the U.S. will have a significant impact on the U.S. Dollar later today, as a round of economic data is due out this week, starting with the consumer price index. In general, there will be a clear movement of the US dollar against the rest of the currencies for the weeks to come.
    Meanwhile, the dollar has climbed to a two-week peak (92.884, its highest since Aug. 27) against a basket of currencies on Monday, bolstered by expectations with the U.S. Federal Reserve meeting in the face of surging COVID-19 cases.

    Update on trade: USD/CAD.

    This week, the USD/CAD trades is trying to retest the monthly high (1.2761). Yesterday, the USD/CAD instrument failed to retrace the bullish momentum. Today, the loonie is relatively quiet, but the Manufacturing sales figures for July are due out later today. With little else for the markets to consider, we can expect some influence from the numbers, though the impact is unlikely to be long-lasting.

    I have placed a buy stop order on this pair (USD/CAD) at price level of 1.2693. I earnestly anticipate a bullish momentum on this pair. At the time of writing, the Loonie was to C$1.2652 against the U.S. Dollar.

    Name: Screenshot_20210914-115958.png Views: 171 Size: 193.8 KB

    Currently, the price is on a consolidating move at H4 time frame, with a support level at 1.2637. The price is trending along the bullish trend line. Although it has not settled completely below this level, I believe that a bullish move will take place very soon. The first Resistance level here is at 1.2763, breaking through this level will open the way for the price to reach the next resistance level at 1.2950. I expect this will take some time to occur, and a bearish trend will likely be available for scalping, or what do you think?


    SL is 1.2574

    TP is 1.2750


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