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Thread: KingofForum Trading Journal

  1. #31 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greeting and Good morning, I Hope you will be fine, The market searching for and progressing is getting less secure in the several days, retailers who can now not make an all the more close confirmation may similarly likewise by and by don't will acquire money from the market. I appreciate the way that I have seen huge quantities of my partners on the talk board acquiring their money except for challenges and in goliath structure. I will by using no limit be jealous of this, I need to make positive that I audit my searching for and propelling structure so I can acquire money like them. This is no extended reasonable for me this week in view of reality I endeavored hard to keep on being in advantage, on the other hand I may moreover need to not. Reality goes to how first rate we would all have the option to trade, of course my searching for and propelling disciplines are loathsome in ebb and flow events, I do now not know about why it would perhaps be the eroded standing I used to be when in the past than I got the too present day money into my buying and selling account. I do now by and by don't have an exculpation, various retailers gains, I need to stand properly. I have lost all my record balance today, it used to be when fast, I do now not figure this can appear so snappy. Acknowledgment is what I will focal factor unto in teaching or the subsequent record recharging, nothing else can help me in this troublesome condition.


    Thank you for visiting this journal and sorry if I haven't had the chance to reply to your visit, today I will try to provide an analysis for the USDX and GBPUSD

    markets.

    USDX strengthened on Friday and managed to rise to the level of 91.93 but the sellers seemed to be pushing back until the market close, the price was at 91.63. I tried to use the Daily timeframe chart to see major trends, it seems that USDX has started moving on a bullish path since the beginning of January 2021 from previously falling to the level of 89.18 but now it has gone up far leaving the lowest level this year. USDX has the potential to move back on the bullish path because on Friday last night, the entry of buyers' strength was able to stop the bearish movement a few days earlier. Furthermore, buyers are expected to target the bullish target at the 92.50 level.


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    GBPUSD Market Analysis


    GBPUSD failed to continue the bullish movement because it was held back by the 1.4000 resistance area which was still a strong obstacle since last week which caused the price to fall back down, referring to the USD index which is likely to strengthen, so I suspect the failure of buyers to penetrate the resistance area becomes a point behind the return of the strength of sellers who are likely to try to push GBPUSD down to a lower area. From a technical point of view, it can be seen that the price had dropped to the level of 1.3862 or had passed the lowest price the day before, which means there is a strong indication that the market wants GBPUSD to move on a bearish path next week.

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    Review of EURUSD Chart Analysis


    In the EURUSD pair, I am quite satisfied, especially since the last open position on March 12th has gotten around 13pips. Yesterday's cut profit was based on the fact that the market had returned to the top and I decided to cut it instead of holding back floating. For yesterday's position entry, I actually waited for the price to go to the deal area, but because there was a reversal, the entry was late where I entered at the price of 1.1961. But overall I am quite satisfied because the direction of the price is in accordance with the initial prediction about the decline in Eurusd. But it seems that before the market close, the price is back up and it looks like it's going to a new trend. Now for the stop loss in the journal recap, it occurs in the trendline breakout area where I am too in a hurry to enter the market.

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    Review of USDCAD Chart Analysis


    Remember yesterday's USDCAD analysis where I predicted that USDCAD price will retrace first before continuing its decline. Now the result of the movement turns out to be appropriate and until the market closes the price is already in the support area because that area level is also a classic profit taking from the pattern formed on the chart. However, it is very unfortunate because I did not open a position here because there were already 2 transactions on Friday. So that when you force entry you are worried that it will drain your margins. But now I am quite satisfied with the analysis on the USDCAD pair so I don't need to do an evaluation. Keep in mind that this is only a review due to a market holiday and does not display future market predictions.

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    Review of NZDUSD Analysis


    Many say that the NZDUSD pair is a currency pair with slow movement. But for me all pairs can give results if they know how to analyze and use them. So, on this occasion, I am reviewing NZDUSD where the price has not succeeded in reaching the deal point area. In that area I also placed a pending buy stop order, but in the afternoon I canceled it because the price didn't reach that level because it was no longer valid. As a whole, for this pair I am quite satisfied and will evaluate more on the placement of the entry point.

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    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

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  3. #32 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greetings:

    Good morning, MT5 colleagues who are happy, don't feel like we have entered the last holiday and tomorrow as usual we will return to our usual activities, hopefully tomorrow we will all be given smooth ease in carrying out forex trading activities.According to the bearish breakout from the US Dollar Index, other USD-based pairs have moved against the dollar index. The massive breakdown has been seen from the Gold whereas the price has created a higher price at the $1739 price mark from the 4-month lower price around the $1677 price mark. As I am writing here, the gold is trading around the $1723 price mark and according to the US Dollar Index,



    GOLD Analysis For Next Week


    Good afternoon traders how are you today.? It doesn't feel like the day will open the market again and as traders it should be if we make preparations, for example analysis or just mapping, if for example, we have analyzed before the market opens, it's good, there is already preparation and when the market opens next week we just have to wait for the price reaction to the analysis It is already done. On the occasion this afternoon I will try to do a mapping using the H4 time frame.

    GOLD H4

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    In the picture above, you can see that GOLD is in the supply area and this area is also a key area whether to buy or sell. If next week the price is able to penetrate the area then the next movement will be towards supplay over the price range of 1771.63, but if it is unable to penetrate the area then the price will fall back towards the support at 1677.55 price range. The best scenarios for next week are as follows:

    To buy, you must meet the requirements first, namely, make sure the price penetrates perfectly the area I marked the yellow box (supply). If it has penetrated, the next step is to wait for the price to drop for a moment then we can buy with the next supplay area target.

    To sell itself, you must make sure that the price does not penetrate the yellow box area and you must form a confirmation in the form of resistance. The target price, if it has formed resistance, is the support level at 1677.55 to be tested again.


    Fundamentals Next Week

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    You need to remember, friends, if you want to trade on GOLD, you should always pay attention to the fundamentals, because GOLD is very vulnerable to news, especially if it smells of USD, prices can move significantly and sometimes like not according to technical analysis.

    From the fundamentals point of view, next Monday still doesn't exist, so it is likely that Monday the price will just move to standard. News is only available on Tuesday until the end of the market closing, there are lots of high impact news which will make the market volatile. So, get ready for those of you who like trading in GOLD.



    for today s analyze USDCAD

    I will discuss the USDCAD pair which in my opinion is quite a big opportunity for us to use in looking for profit next week. yesterday's daily candle was a bearish candle with a long tail above which can be interpreted as a very dominating seller. So the USDCAD weekly candle is finally a bearish candle with a fairly large range of around 220 pips. Based on VSA analysis, next week the USDCAD pair will likely be bearish again with reasons.


    1. The daily candle is able to close below with a volume that is higher than the previous 2 volume candles which gives us information that the selling pressure is still quite high. Current prices hit last month's lows which may have a backlash i.e. they will rise slightly between 30-60 pips.
    2. The weekly candle is a bearish candle with a volume that is lower than the previous 2 candles so that the possibility of the price going back up is also quite large. Considering the bearish trend in the TF monthly and the previous candle monthly which was able to close above, in general the market is not too bearish and it could be that the weekly candle next week is a doji candle.
    3. To stop the downtrend, the market maker will sell absorbtion, stopping volume and shakeout, but there is still a deceleration phase (speed reduction power) which allows prices to fall more slowly.

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    With the above considerations, it is highly likely that this week the price will try to fall towards around 1.2300 before possibly turning bullish for the medium term trend. so a sell or sell limit option around the price of 1.2520 and the target price of 1.2300 in my opinion is quite a chance to profit. considering the price 1.2530 is the first pivot monthly resistance zone.

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    According to this rule, Alvis Cape were up to 5% of the risk.

    analysis EURJPY

    Filling your spare time by relaxing while listening to the review material that we present, maybe added afdol and it is useful to enrich the information that can be collected as a consideration when friends want to enter the market. On the occasion of this morning we would like to share information for a trading plan for the EURJPY Pair which hopefully will suit market conditions when the market reopens on Monday, 15-03-2021.

    Just go straight to the discussion material. Here we inform you in advance that we are using a price chart with Timeframe H4 so that we can see more clearly of any potential that exists, because what we will review is a trading plan for a target period of one week ahead. So, based on what we see from the H4 Timeframe chart, it can be said that the ongoing trend is in the line of a bullish trend, which is marked by price waves forming a rising hill, and a rising valley as well. Actually, the bullish trend that occurred in the EURJPY pair has been going on for quite a long time, but it seems that the Japanese Yen currency is indeed powerless against the Euro currency, thus creating a prolonged Bullish Trend.

    As a trading reference for the coming week, we have identified the price reaction when the price reaches the resistance level of 129.83. After we observed carefully, the price reaction had experienced rejection from the resistance level of 129.83, and on the next candle, the resistance level could be broken out, which actually had also received resistance from the seller which was marked by a long shadow. Furthermore, we see that shortly after the price broke the resistance level and formed a new higher (Higher High), the price decreased, but there was resistance when it entered the RBS 129.83 level area so that the price went back up towards the Higher area.

    We continue to trade options which in our opinion have the best opportunity to gain coffers of profit. From the price mapping we have done, we believe that the EURJPY pair has a big enough opportunity for us to take a Sell position, because the price has been oversold too often, which is indicated by the RSI indicator which has several times exited the 70 level. opposite the RSI (Regular Divergance) Indicator line wave. We are aware that going against the Trend does carry a higher risk when compared to following the trend. But if we really have confidence in the existing signal, then there is no need to be afraid to go against the trend. Hopefully you can get a sale at the peak when the Reversal starts, of course it will be more profitable, right ?. But actually the buy option is not that bad, as long as the price remains above the RBS 129.83 area. With the price still holding above the RBS, further bullishness is still possible, especially if it messes with the Regular Divergance pattern, the greater the chance for the price to continue bullish.

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    On Friday's trading, it was seen that the upward movement of GBPUSD was halted by the resistance 1.4000 which was still too strong for its resistance to pass, causing the price to fall very significantly and stopped at the support area at 1.3875 to move up again. I tried to analyze GBPUSD using the Daily time frame using the help of the 20 period bollinger bands indicator, you can get information that there is a bullish candlestick that managed to rise above the middle BB which indicates that prices will strengthen next week which is supported by the rejection of a bearish candlestick on the MA 10 line (orange color) which causes the price to bounce upwards. Likewise, the price position is above MA 50 which causes the price trend to continue to rise is still very strong.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  4. 8 users say Thank You to KingOfForum for this useful post.

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  5. #33 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Good morning and greetings of maximum handsome profit to loyal visitors of this journal. Previously, I would like to say that the withdrawal I did on Saturday was processed by Instaforex on Sunday. So I was confused because the holidays were still being processed by the finance department. On the occasion of Monday today I usually call it "Monday" or "Money Day". Now after yesterday I managed to book extraordinary pips today, I will continue to focus on forex currency pairs, especially those that have a pair with the US Dollar. And below are some of my open positions that are currently open this morning. Where there I have opened a position in the EURUSD, GBPUSD and NZDUSD pair. Open position this time is only valid for today only, so whatever happens tonight I will close everything. For the chart I will explain later in each pair.

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    Fundamental Analysis and Today's News Schedule.

    Currently there is no news that has a high effect on market movements. Practically only the Australian Dollar is red, but in the morning the movement was according to my prediction yesterday regarding the Governor of the Bank of Australia's speech online which was carried out at a Melbourne business school that there was only a flick of around 10-15pips so it didn't really affect the charts on the market. Even so, I will focus more on CAD and USD news which is likely to be released later tonight. From the two CAD data releases, I am more focused on Manufacturing Sales which will occur at 19.30 because this is the main indicator to assess the health of the economy in the country released by the local Statistics Agency. According to my prediction, this will be able to strengthen the currency from Canada if the results released are much greater than the current value. Meanwhile for the USD there is the release of the New York State Manufacturing Index data, but for the strength it doesn't seem too significant but for me this will have an impact on the strengthening of the Dollar currency, especially the opening of the American session.

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    Analysis and Prediction of the USD Chart Index


    Chart of USDX is currently being observed to form a Descending Broadening Wedge. It can be seen that last week the price had a breakout of its trendline and in the morning it went back inside again. The breakout that occurred seems to indicate that the Dollar wants to get out of its bearish pressure and this is also supported by the release of news that will occur tonight where I predict that there will be a strengthening of the US Dollar. The closest level that USDX can reach is the closest resistance at 91.90. In conclusion, there will be an increase in the USDX Chart today, especially later tonight around the opening of the American session.


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    EURUSD Chart Analysis and Prediction (Fiber)

    In the EURUSD pair I have opened a short position based on the two previous studies, namely between fundamentals and USDX. Where both provide information about the increase that will occur in the dollar. Even so, I am still cautious because today there is also a data release that affects the EURO in the afternoon. Now for my own technical analysis, I use the Fibonacci retracement to determine the right resting place for this pair. It can be seen that there is a green sign which means the retrace level is there and I immediately opened a position with a risk and reward of 1: 2 which is about 20 pips for stop losses and 40 pips for take profits. So my trading plan has been executed until now and is just waiting for the market movement.

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    NZDUSD Chart Analysis and Prediction (Kiwi)

    Still the same as the two pairs that are opposite to the previous Dollar. Now in the NZDUSD pair, I have also opened a position based on the Fibonacci retracement. The strength of the support become resistance level in my opinion is still quite strong so far that is why I have the courage to open short positions at this time. And the target is only above the nearest support. If you look at the strengthening of the dollar today, the target goal or taking profit that I have set is likely to be achieved. So if not, then I am ready to take the risk of just 14 pips from the start of the open position. Besides that, this is also supported by the stochastic indicator which is still below its neutral figure, which indicates that bearish strength still dominates in this pair.

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    USDCAD (Loonie) Chart Analysis and Prediction

    As you can see, USDCAD is already at the classic target of the triangle pattern that has been formed and in fact this area is suitable for buying, considering that it is also supported by the strengthening of the dollar. However, on the other hand, the news that will be released tonight also indicates a strengthening against the Canadian currency. Which means that for me there is still no clarity on the movement of this pair. Even so, I could open buy using the speculative method considering that this support is strong enough to at least hold back a rebound from the market because the risk is also quite small. Besides that, Stochastic is quite supportive of USDCAD's rise because it is already in the saturated area which indicates a reversal will occur.




    GBPUSD Chart Analysis and Prediction (Cable)

    As before, currently the main focus on GBPUSD is the strengthening of the dollar. For the placement of open positions I also use the Fibonacci retracement ratios which I have marked using the green box. For risks and targets are still the same using a ratio of 1: 2. The final objective of GBPUSD is to go to the closest support because there have been several rejection times since February 10, 2021 and it is also supported by strengthening USD Fundamental analysis. The Stochastic indicator here is actually less supportive for the decline of GBPUSD. However, these various data and historical scales led me to make the decision to sell this pair. I hope that this transaction will be able to take profit after the opening of the European session market later.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. #34 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Good morning, friends of the mt5 forum, this morning assignment is back to making a trading plan and seeing the results of the trading plan made yesterday whether it went well or not. This is important to do to see whether the trading plan that was made yesterday is in accordance with the forecast and can be continued for today or not, while the trading plan also needs to be done to make our trading more focused. Okay, so I will immediately see what the results of the previous trading plan were in the GOLD pair and INDEX USD after yesterday's market movement.

    GOLD review
    In the previous trading plan, I predicted that Gold would re-strengthen to a higher price level. So far, the market movement in Gold seems to be still sideways with a fairly small range. And for now there has been no change in the trading plan, I am still optimistic that Gold can move up according to what was previously planned. The trading plan will only change if there is a strong indication of a change in trend direction with a decrease in price that is able to break the support level and create a new low area. Congratulations, no support level has been broken, so the BUY trading plan on Gold can still be continued.

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    INDEX USD Review
    Market movements on INDEX USD so far still look normal and the range is still very small, you can say that the current condition is still sideways, maybe because the market on Monday was quite quiet and there was also no release of fundamental data so it made the market move only just up and down. Still with the previous trading plan, in my opinion, INDEX USD still has the opportunity to move downwards with the target of testing last week's lowest price level at 91.33. So it can be concluded that for now there is no change in the direction of the trading plan on INDEX USD and I will remain focused on the SELL opportunity.


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    GBPUSD PAIR MARKET ANALYSIS

    Okay, this time I will review the GBPUSD pair for today's trading plan and maybe it can apply in the next few days because here I make an analysis using the H4 time farm. As we saw yesterday at the beginning of this week's market session, the price movement tends to move downward, however, the process of price decline is still stuck above the demand area formed on the H4 time frame. In fact, I have seen that so far there have been two rejection times when the price fell closer to that area and it still failed to fall even lower.

    My guess is that if the price decline is still unable to pass through this demand area, it is likely that the market movement in the GBPUSD pair will move up again and most likely have the opportunity to re-test the resistance level at the price of 1.4000. But if it turns out that this demand area is able to be penetrated, the price decline will reach the next demand area at 1.3778 which was also the lowest price level in last March.

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    For today's trading plan I tend to prefer the buy option, and the best buy area is in the demand area with a target at the resistance level at 1.4000. Meanwhile, if the BUY plan fails then we can wait for confirmation of the penetration of the demand area and wait for the new price to retrace then we can take the SELL option with the target in the next closest demand area.



    Good evening all trader friends.

    It seems that the current market movement for all pairs looks not too aggressive, it could be because yesterday's news was minimal which had a big impact except in AUD and CNY. But for tomorrow, it looks like there is relatively a lot of news, so you need to be careful too. But this time I will only discuss some predictions of price movements and market analysis of GBPUSD and EURUSD on lower time frames. Because even though we have entered March 16 at GMT + 7, we are actually still on a trading day on March 15, 2021.

    preliminary

    Because the relative movement is not too big, it is possible that the current moment we use the scalping fractals technique like the one I use is using the low time frame M15. Even though using the M15 time frame, it is certainly recommended to always use a good money management system when we start market execution. The first rule when you want to scalp a pair is to always pay attention to the news that is being released, it seems that for now there is no news that has a big impact so it is relatively safe to use analysis at the low time frame of M15, for example. If we look at the news today, there is not much news that has a big impact on prices.

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    EURUSD

    Meanwhile for the EURUSD pair, here are some of the best areas for us to start market execution. The buy area is at the point 1.18382 to 1.8804 with the TP point at 1.190945. While for the sell area we can place it at the point 1.19979 to 1.20342 with TP at the point 1.196943. As long as the price has not entered the buy area and the sell area, we will not open a position. The following is a picture of the analysis:

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    Conclusion

    Because the market tends to be sideways at the moment, we can set a limited profit target and we can also do analysis at low times such as M15 EURUSD and M15 EURUSD. Also pay attention to the note that in this analysis we see a green area where we are not advised to open positions because the price is not clear where to go. In this technique we are better off waiting for the price to move to the areas that have been determined.

    A few simple analyzes of pairs in this journal, hopefully this will be useful for all. That is all and thank you.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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