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  • #631 Collapse

    Hello ladies and gentlemen



    Greetings and good morning to everyone in my today's journal update. Finally, the trading activities are over and the market has been closed a few hours ago. How your weekend is going on? How much profit do you have manage last week? As per the report of Reuters once again the price of oil extends surpasses the supply fears of Covid-19 pandemic lockdowns in China. A common economy minister document has been confirmed by the Reuters that the Western sanction on the Russian invasion in Ukraine could core the investors and exporters and also spread problems against the Russian craft to deliver oil to purchasers. And we should be careful and try to move according to the trading plan which you have prepared.

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    Fundamental data for next week:



    As you can see from the attachment below we have some high-impact news events for the next weeks trading about the various type of currencies. Overall the next week's trading is going to be more serious for the AUD traders. Because the Reserve bank of Australia(RBA) is going to release its official cash rate next Tuesday means we can see high volatility in the related pair price. Moreover, the Bureau of Labor Statistics, of the US will publish JOLTS Job openings data on the same day and have a significant effect on the USD pairs. So try to prepare a trading plan to escape from the quick margin call.


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    Active trades:



    As you know, the market is closed during the weekend, so we cannot trade on the currency pairs. Also, the crypto market is always open and I have a loss to recover which I did last week. So with that in mind, I have put some trades on the Bitcoin which are still running at a loss. These trades are proposed to maintain for medium-term trading. If they give me the ordinary profit then I could close them manually. So that's why as you can see that I have set take profit near the $39300 resistance level.


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    • Entry point: $38600
    • Take profit: $39300
    • Stop loss: not modified
    • Current status: +0.39

    Bitcoin:


    The price of Bitcoin was trading in a strong tendency but suddenly reverse to a bearish trend and succeed to break the SMA-50 line around the $39500 price mark. It seems that we have a "W" bar pattern in the four hourly time frame which will occur after reversing from the horizontal support level of the $38000 region. In addition the technical indicator MACD had a short-term bearish crossover which will assist the price to decline. Most likely a sharp recovery could break through the upper boundary of $41000 sooner or later. So let's wait for the price to turn in my favor.


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    What do you think regarding my current trades in Bitcoin? Please let me know what is your opinion about the running trades. That's all for today. See you tomorrow with a new update. Stay home stay safe and remember in your prayers
       
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    • #632 Collapse

      Hello ladies and gentlemen


      Greetings and warmest welcome to everyone in my today's journal update. What was the result of your last week's trading activities? Hopefully, the market reacts as per your trading plan. The weekend is going on we should prepare the trading plan for the next week's trading. Actual, geopolitical crises are having a significant impact on the market. In the prior week, the price of crude oil assets had incredible experience development. Because China keeps effect on the global market as the China speculators are having a tight time measuring the Covid-19 pandemic lockdown. Currently, the crude oil price is trapped in a bearish pressure and maybe rebound to the following level of 100 by next week.


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      Russia- Ukraine conflicts update:


      Since February 24, 2022, the crisis are getting worse day by day. But now there is a resolving situation for the invasion because the foreign minister of Russia had asked US and NATO if they are attempting to resolve the conflicts then they should stop supplying arms to Ukraine. But against this report, the US Joe Bidden asked Congress to support Ukraine against the aggression of the Russian military with 33 billion dollars. And the most dangerous thing is that the parties do not agree with each other. So I don't think the war can end.


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      Active positions:
      ​​​​​​



      If you are a regular visitor of my trading journal then you may know that yesterday I executed several orders in the Bitcoin pair. The price is looking steady and when the price had moved around the lower peak of the bears the pair started to move sideways. And as you can see that my current trades in this pair are floating into an ordinary loss of 37. I was not sure that the price will obtain it strengthens against the seller's troops. However, I have a short target for these trades around the resistance level of $39300 which is not far away to hit his higher level.

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      Bitcoin:


      In the last hour, the price of Bitcoin experienced a medium-term decline close to the $37700 level. Presently the price is stuck at the formation of the double bottom during the four hourly time frame. Because the series of Doji candles had pushed it into a bearish trend that was a negative sign for the price action. As well as I have drawn an AB=CD pattern which is possible to occur today. The price behavior successfully breaks the C wave and now turns into a dynamic resistance level aiming at the $39000 zone once again. Therefore I should wait for a positive response from the price action.


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      What do you think regarding my current trades in Bitcoin? Please let me know what is your opinion about the running trades. That's all for today. See you tomorrow with a new update. Stay home stay safe and remember in your prayers
         
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      • #633 Collapse

        Hello ladies and gentlemen



        Greetings and warmest welcome to everyone in my today journal update. Finally, the weekend is over now and we have reached Monday. Hopefully, this week will bring profits for us. And we should consider our trading plan. Anyway, let's move to business. The US dollar index opened from the 103.18 price mark and it witness a short-term bearish pressure around the resistance level of 103.40 regions. Frankly, the price significantly bounces to an uptrend, and as we can see how the price is turning into a dynamic tendency, the daily frame structures are also suggesting consolidation shortly. I assume if the price can break down the 103.00 price mark by today then the further interest of bulls will occur near the next resistance zone of 102.80 territories.


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        Important economical data:



        Today is the first day of the week and begging of the week is so good. But it is not suitable for the investors and USD traders. For today's trading, we have a single significant fundamental data regarding the ISM Manufacturing PMI of the United State. As you can see that this data's previous ratio is close to 57.1 while the economist's analysts are expecting a 0.7% rise by today. In addition, the banks of the UK, Japan, and China are on holiday and they will not publish any news events. But we should not take today's trading lightly and try to follow money management in trading.


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        Active trades:



        I haven't not been performing well for a few days. When I execute a trade in any pair then it moves against my trade. I think I should take a trade against my decision then it will go perfectly. You can notice that when I execute these trades in the pair the price had fallen incredibly and test the lower boundary $37700 price mark on Sunday. As you can see that my current trades are still in a ordinary profit because the price of Bitcoin had a significant bounce in the bearish territory which lead me to a tremendous amount of loss.


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        Bitcoin:


        As we can observe by the daily time frame the price is falling in a descending channel and breakdown below the support zone of $37500 price yesterday. The current situation of the price is dominated by the sellers and could push it into a deep bearish trend. But if we try to analyze it the Technically the price action seems strong because the MACD indicator is supporting it to cross horizontal resistance of $39000 once again. But for the medium-term, we can witness further pressure from the seller's troop close to the support level of $36000 by today.


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        What do you think regarding my current trades in Bitcoin? Please let me know what is your opinion about the running trades. That's all for today. See you tomorrow with a new update.
           
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        • #634 Collapse

          Hello ladies and gentlemen



          Greetings and warmest welcome to everyone in my today journal update. On Monday the oil prices fell regarding the economic growth of China and a supply fear could occur to the EU ban sanction on the Russian crude. But after that, the price of crude oil climbed and move towards the bullish territory of 105.10 price mark. The US dollar index was able to break the resistance level of 103.61 from the lower level of 103.08 during the high-impact news event of ISM Manufacturing PMI. With this consolidation of the dollar, the GBP/USD price reached the multiply months lower low price bottom the support level of 1.2550 whereas the price action can strengthen again. But the recent development of the US dollar index is pushing it into a deep correction.


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          Important economic data:



          In terms of fundamentals today there are some essential data about the various types of currencies. The Reserve bank of Australia will release an official cash rate by today which is fixed at 0.10% while the experts are supposing it to reach 0.25% which could bring positivity to the price of AUD-based pairs. As well as the RBA rate statement will be held by today in which the cash rate will announce. I am looking forward to a potential consolidation for the AUD/USD. In addition, the JOLTS Job Openings for the USD index have a clear impact on the market. Therefore try to analyze the market fundamentally instead of technical elements.


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          Closed trades:



          As you all know that during the weekend I had executed some trades in the Bitcoin pair. Unfortunately, I have closed all of the trades from it with an $8 loss because the currency market is opened and I will try to find out a possible trading opportunity to manage handsome profit. Because when I opened these trades in this pair it went to test the lower border of $37000 on Sunday. I was sure that the price will move towards the bullish region and exceed my target which was around the resistance level of $39300.


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          EUR/USD:



          I have searched for a normal pair to trade and found EUR/USD on my watchlist. If we take a look at the previous history of the price action it has been moving in a falling wedge pattern which was forced by the strengthening of the US dollar index. At this moment the price is closed at the 1.0505 region which is the lower low price of this week and it should recover a bit at the following level of 1.0600. But when it broke the SMA- 50 moving average lines then it may progress deeper from per technical point of view.


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          • #635 Collapse

            Hello ladies and gentlemen



            Greetings and warmest welcome to everyone in my today's journal update. The US dollar index is flat between 103.30 and 103.60 price mark wince the market had opened. We have not seen any volatility in the market except in the oil market. The oil prices rose into positive territory in the early Monday session whereas the U.S West Texas Intermediate (WTI) progressed and fixed the resistance level at 105. the 30 price mark. Hungary will try to defy EU measures as it does not want any threat to gas and oil supply security. The European Union (EU) has said it wants to impose an embargo on Russian oil, but Hungary has said it will not change its position on the issue. So these elements could push oil prices skyrocketing again.

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            ​​

            Important fundamental data:



            Today is an important day for the fundaments traders because in today's economic calendar we have some significant data about the USD index. I think everyone was waiting for ADP Non-Farm employment change which will publish by today and have a bad impact on the market. In addition, the federal fund rate will be released in upcoming sessions by the federal reserve which is expected to grow 50 base points and reach 1.00% this week. And for these conversations, the FOMC press conference will be held. So try to analyze the market fundamentally and follow money management in four tradings.


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            Active trades:



            As per my yesterday's plan on the EUR/USD currency pair I have executed some trades with a 0.23 lot size right now. As you can see that all trades are floating in a total of $23 loss. Today there are some essential data for the USD index which could push the price of this pair in any direction. And I am supposing that today is decided the day for my current trades. So to avoid a huge loss I have modified these orders with stop loss and take profit. I have set a target of making a profit at 1.0570 and a stop-loss at 1.0450.


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            EUR/USD:



            Currently, the price of EUR/USD is hovering below the support level of 1.0450 price mark in the daily time frame. Since the make had opened the price movement is flat and not showing any confirmation to take a position. But I take some orders as per my strategy. Fundamentally the price of assets could face incredible fluctuations because the Fed is going to increase hike rates as well as the federal fund rate is expected to break the previous fixed level of 0.50% by today. Therefore the price action will go higher to test the 1.0600 level easily.


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            What do you think regarding my current trades in EUR/USD? Please let me know what is your opinion about the running trades. That's all for today. See you tomorrow with a new update.
               
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            • #636 Collapse

              Hello ladies and gentlemen




              Greetings and warmest welcome to everyone in my today's journal update. From the recent expectation of fundamental data regarding the interest rate that the Fed will hike half of the percent this month and the remaining in June because there was a 0.50% increase prediction, we may witness a 0.25% in these days. On the other hand, the ADP Non-farm employment report didn't come positive for the US dollar index price. The investors had supposed an incredible growth in the price of the US dollar index while it declined to a physiological support level of 103.16 from the top border of 103.57. But in the future, the price will consolidate for sure because the attachment below shows a clear report for the rates to grow by the end of this year by 2.23%


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              Important economic data:



              From what I have seen in the economic calendar today we have some high-impact need events about the GBP and USD-based pairs. The most influential data is MPC's official bank rate rates which are expected 8-0-1 because the last time a single participant had voted. And now we have the same expectation from the experts. In addition, England will release an official bank rate as it is hiked by 1.00% from the prior ratio of 0.75%. Furthermore, the U.S department of labor is going to publish initial jobless claims which are medium impact news and I don't think it will have a bad impact on the market. But we should keep into account that the England economy is having some significant data which could lead to us quick margin call.


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              U.S. natural gas prices hit a 13-year high



              On Wednesday the price of the U.S natural gas had reached its 13-years high level of around $8.40 and surged by a 5% bullish rally. But now the current speculators of the inventories are anticipating a 17% below by this year because the supply is hitting modern archives. While as per the report of the American Petroleum Institute (API) the previous gasoline inventories were close to 3.91-million-barrel in the previous month. And this shortage would lead decline in the price action once again.


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              EUR/USD:



              The price of the EUR/USD is moving as per my analysis which I have shared in my previous journal update. But unfortunately, the price action could not test my take profit target which was located at the 1.0570 level whereas it rebounded by 1.0564. Frankly, the current weakness of the US dollar index will push the price action toward a bullish rally and exceed my target as soon as possible. Fortunately have the choice to close the trades manually for an ordinary profit but I am waiting for a confirmation of the dynamic resistance level when the price of the US dollar index will rebound to the following level of 102.80 price mark by today. So let's see what will happens next.


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              What do you think regarding my current trades in EUR/USD? Please let me know what is your opinion about the running trades. That's all for today. See you tomorrow with a new update.
                 
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              Last edited by ; 05-05-2022, 04:30 AM.
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              • #637 Collapse

                Hello ladies and gentlemen



                Greetings and warmest welcome to everyone in my today's journal update. I hope everyone is fine and enjoying trading in the forex market. Today is Friday and the last day of the week is also considered horrible for the trading. We should avoid trading today. Anyway, let's move to business. Yesterday the price of the US dollar index was dominated by a strong pullback. Regarding the movement of the US dollar index failed to maintain the bullish rally beyond the resistance level of 104.00. The reversal from 103.80 territories is unlikely to indicate the possibility for the buyers to the troop. But this region is likely to open the door for the upcoming targets by today. The price action will surge and test the following level of 104.20.

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                Important economic data:



                Today is an important day for the fundamental traders as we have a lot of significant data reference to various types of currencies. The Canadian statistics will release the unemployment rate and it is settled at 5.3% while we have a positive anticipate close to 5.2%. On the other hand, the reserve bank of Australia's monetary policy statement will conduct in which the economic conditions and inflation, etc will be discussed. As well as the most essential data concerns to NFP will declare in the upcoming hours. Furthermore, the U.S Bureau of Labor Statistics is going to release average hourly earnings which will have a clear impact on the market. So try to have a look at the attachment below to prepare a trading plan accordingly.


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                Closed trades:



                As you all know that I executed several trades in the EUR/USD currency pair a few days ago.
                My trade has been floating in an ordinary loss.
                The trades successfully exceed their targets and close automatically with a profit of $45 because when the price approach 1.0570 the trades get closed. Because my take profit target was situated at this mentioned level. After breaching this level the price behavior experiences an incredible decline at the nearest support level of 1.0502 regions yesterday. It was one of my successful trades and I earned approximately $45 from these traded.


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                USD/CAD:



                According to the fundamental perspective which is going to be released by today I have executed several trades in the USD/CAD with a $1 lot size which are now running in a normal loss. After reading the economic data regarding this pair I assume that it will go higher I test the upper channel of 1.2900. From a technical point of view, the price is trading above all moving averages and breaking the weekly high beyond the 1.2930 price mark. Now the price rolled back to its previous position at the bottom at 1.2930 and I am expecting a deeper consolidation within this week.


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                What do you think regarding my current trades in USD/CAD? Please share your valuable feedback about my trades. That's all for today. See you tomorrow with a new update.

                   
                Tacaz Trading Journal

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                • #638 Collapse


                  Hello ladies and gentlemen



                  Greetings and warmest welcome to everyone in my today's journal update. Finally, trading activities are over and now the market is closed due to the weekend. Yesterday's Non-Farm payroll change data was not positive for the price of the US dollar as it declined to the lower level of 103.50 after hitting the multiply years high price above 104.02 last week. From a technical point of view, this rejection is a sign for the bears to maintain their ability further. The tremendous opportunity that the bank of England hiked rates by 1.0% as the price of the GBP/USD spike to support the border at the r of 1.2330 price mark. Still, the price action is not recovering lost value until the US dollar index didn't experience a sharp decline in the next week.


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                  Ukraine- Russia 73rd day development



                  The crisis has not been solved as almost three months are about to happen. As today is the 73rd day of the war. So we will take a view on main development. Russia says its military has attacked specific strongholds in Ukraine, killing at least 600 fighters. The Kremlin has accused the United States and other NATO operatives of providing observation of Ukraine. The Pentagon spokesperson John Kirby said he would not provide any information on the location of the military or take part in the decision. So it shows that no one is ready to help Ukraine after it is plunged into a dark abyss.


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                  Active trades:


                  During the weekend the market is offline and we cannot trade except for cryptocurrencies. It is not strange that in such a time I have no active trades. Of course, I have several trades in the USD/CAD currency pair from the last week. The price was not fast as I had expected during the high-impact fundamental data. At this moment my active trades are floating in an ordinary profit above $50. I am still confused that how the price rolled back to the 1.2750 price mark after testing the upper boundary of 1.2780.


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                  USD/CAD:


                  The price of the USD/CAD has been ranging in a bearish trend. Last week the price of this currency pair was dominated by the buyers as the weekly higher high was based at the 1.2910 price mark. When the price test this level it should break 1.2570 without any respect but the bears do not respond more to obtain a strong trend for the future. Now as we can see from the charts below the price had progressed close to the resistance level of 1.2909. In general, it would break through the following upper border new near to 1.2980 by next week.

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                  What do you think regarding my current trades in USD/CAD? Please share your valuable feedback about my trades. That's all for today. See you tomorrow with a new update.
                     
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                  • #639 Collapse

                    Hello ladies and gentlemen



                    Greetings and warmest welcome to everyone in my today's journal update. What was the result of your last week's trading performance? Hopefully, it goes as per your intentions. There was a sharp recovery of the crude oil price at the following resistance level of 111.17 regions whereas it succeed to maintain the bullish rally. It looks that the price will progress by next week as it breaks weekly higher high during the previous week as a sign for the buyer's troop. Despite that, the fundamental data regarding the unemployment and employment change in Canada leads to unbelievable consolidation in the price of the Canadian currency as it will surpass bulls and attempt to break weekly higher price compared to the 1.2920 price mark.


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                    Russia- Ukraine conflicts update:



                    The current situation seems negative as the Russian Foreign minister warns the U.S to don't provide modern weapons to Ukraine. But the opponent participants in this invasion are going against the intentions of Russia. As recently the American president Joe Bidden approved a $150 million military aid package for the Mariupol. Because there are a dozen civilians evacuated from Mariupol. A representative of the US had stated that it will counter-artillery radars used to detect enemy fire which could prove to be positive for the Ukrainian military. It would bring more obstacles for the world to resolve the invasion.


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                    Active trades:



                    As you may know in the previous week I had executed a few trades in the USD/CAD currency pair which are now stuck in a normal profit of around $50. I did not know that these trades are floating in a profit but when I opened the terminal I was shocked. My analysis on this page goes perfectly as it succeeds to test the upper boundary of the 1.2900 price mark during the essential fundamental data. I am happy that it runs according to my intentions. Because I was not sure about the primary trend of the pair. So by tomorrow, I will close these trades manually.


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                    USD/CAD:



                    During the four hourly time frame, the price action had been consolidating in an upward direction and now closed at the 1.2903 area. As you can see from the chart below I have mentioned a gravestone Doji candlestick pattern which was the valid main behind the development because it was formed in the mid of the day.


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                    Despite that, there is a double bottom formation in this also after that the USD/CAD asset had established a double top at the 1.2900 price mark but could not break the higher price of this structure. Therefore next week it may rebound sharply of if it breaks this level then further continuation of the bullish trend will occur.


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                    What do you think about my floating trades in USD/CAD? Please share your valuable opinion about my trades. That's all for today. See you tomorrow with a new update.
                       
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                    • #640 Collapse

                      Hello ladies and gentlemen



                      Greetings and good morning to everyone in my today's journal update. As usual, the weekend is over and now the market is open for five days. In terms of market momentum, the US dollar index was closed at 103.63 during the weekend as it opened from this level and test the resistance zone of 103.90 in the Asian session. In the correlation of this progressive trend, the other pair had affected by it as the price of crude oil reached 109.50 which was not expected in my previous update. Besides that the GBP/USD currency moving in a bearish trend but when the SMA-50 is broken by the price behavior it could go higher to test the following resistance level of 1.2400 regions this week.


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                      Important economic data:



                      From what I have seen in today's economic calendar we have a single medium impact need about the GBP currency pairs. Apart from that, some low-impact data will not influence the market. The most important news event for today's trading is related to MPC member Saunders speaking and you don't believe I haven't ever seen this news in my life since I joined the forex. I think we should move as per our trading plan that we prepare during the weekend. So like that, we can be successful in trading and escaped the huge losses. I am not a financial advisor do your search and take the set.


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                      Closed trades:



                      As you all know that I have been holding my trades for the last week. But the maintaining time is over and I close my trades manually in a $76 profit as I have mentioned in my previous update that when the market will open I will close these trades. Because I was not sure about the main trend of the pair and I take these orders as per my fundamental strategy which goes perfectly and I earned a decent profit from this. I hope I will perform like that.



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                      Silver:



                      Right now I have executed a fee trade in the silver medal from the 22.220 price mark in the buying direction. Now the price is attempting to move in a bullish tendency which is dominated by the buyers and traders as I have seen that there is the possibility of the double formation beyond the 23.200 price mark which could occur during the four hourly time frame of the pair. But when I looked at the daily time in which there was a short target of the bulls expected to the upper boundary of 22.700 level which could test today. And after hitting this level the price will present a double top pattern.



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                      What do you think about my floating trades in silver? Please let me know your valuable points of view about my trades. That's all for today. See you tomorrow with a new update.
                         
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                      Last edited by ; 09-05-2022, 05:52 AM.
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                      • #641 Collapse

                        Hello ladies and gentlemen


                        Greetings, and warmest welcome to everyone in my today's journal update. I was busy with some personal work and could not update my journal in the morning but it is not like that I will not update my journal regularly. Today is the second day of the week and at the beginning of the week the whole market experience crazy volatility as the price of the US dollar index reached the physiological resistance level of 104.15 and now the price is hovering below 103.70 regions. As per the AB=CD pattern which I mentioned in the chart it could complete within this week where currently the price action is ranging at the C wave of this formation. Despite that, the crude oil price movement again made history and declined from the upper border of 110.30 level and test the lower boundary close to 99.80 price mark but now the price returned to 102.00.


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                        Important economic data



                        For today's trading, we have nothing special in the economic calendar because there are some medium impacts on the USD index that will not impact the related asset. As you can see that the U.S Treasury Sec Yellen's speech will release today and I don't think that it will affect the market. As well as the FOMC member Waller speak is about the USD bases pairs which will have a clear impact on the pair. In addition, the Mester speak will be declared by today and aim to the USD index. So be careful and try to analyze the market fundamentally.


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                        Active trades:



                        If you are a regular visitor to my journal you may have experienced my running trades in the silver now which are floating in an enormous loss above 230$ which is considered a huge loss. I don't know why the silver price is falling constantly whereas the USD-based pairs are declining too. It should not fall as it tests the lower border of the 22.500 regions because there was a short-term consultation in the price of gold above the 1863 region. Meanwhile, the silver should test the 23.00 mark as per my analysis but fail.

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                        Silver:



                        ​​​​​​The price of silver has been trading in a bearish state because the price of the US dollar index reached the resistance level of 103.85 today which caused a sharp decline in its price. As you can see that recently the price is covering the symmetrical triangle which I mentioned in the attachment below and with this shape the price will progress as per my technical point of view. But when the MACD indicator suggests a bullish crossover during the weekly time frame then the dynamic trend will be confirmed.


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                        What do you think about my floating trades in silver? Please let me know your valuable points of view about my trades. That's all for today. See you tomorrow with a new update.
                           
                        Tacaz Trading Journal

                        Nothing is true everything is permitted!

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                        • #642 Collapse

                          Hello ladies and gentlemen



                          Greetings and good morning to everyone in today's you're updating. Today we entered the third day of the week. Yesterday I was late and now I came to update my journal in the morning. By the way, let's take look at the business. If you look at the market movement is slow at this moment because any factor is supporting the market. The US dollar index in the daily time frame opened from the 103.90 price mark while it go down to test the previous support level of 103.80 territories in the Asian session. From a technical point of view, the US dollar index could rise and pull back at the following resistance border close to the 104.12 price mark based on my previous post.


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                          Important economic data:



                          In terms of fundamentals, there is some high-impact news about the USD index and EUR. In general, today is an important day for the analyzers. Because the U.S Bureau of Labor Statistics is going to publish the consumer price index (CPI) for May which has a clear impact on the market. Regarding this event we have negative anticipate from the economist experts around 0.2% from the previous ratio of 1.2%. Apart from that, the US economy will release core CPI data too which will influence the USD-based pairs. So fundamentally we have solid data. Therefore try to follow money management and trade as per your own risk.


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                          Active trades:



                          I have been maintaining my trades in the silver which are now floating in a huge loss. The price increased a lot of dollars from the previous. Because in my last update the total loss was $230 whereas now the trades are losing about $516 which is not a good sign for me. Presently the price is covering the primary source of the bulls at 22.500 which will not be confirmed until the price does not cross the following resistance level of 22.700. The main reason behind these losses is not using stop-loss because I always lose capital for that reason. So let's see what will happen next.


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                          Silver:



                          In the daily time frame, it is clear to see that the price action had failed from the SMA-25 line whereas the price could not approach this objection which was based at 22.500 regions. As per my perspective if the price succeeds to break this level by today then further continuation of the dynamic resistance level will happen beyond the key resistance of 23.200. Most likely the price action is about to decline in a deep correction because during this frame silver break through the double bottom at the 2.900 region and after that, the silver declined sharply.


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                          What do you think about my floating trades in silver? Please let me know your valuable points of view about my trades. That's all for today. See you later with a new update.
                             
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                          Last edited by ; 11-05-2022, 07:40 AM.
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                          • #643 Collapse

                            Hello ladies and gentlemen



                            Greetings and warmest welcome to everyone in my today's journal update. Yesterday there were incredible fluctuations in the forex market. Because yesterday we had some essential data regarding the USD-based pairs. If we take a look at the US dollar index the price had reached the support level of 103.35. But it was a medium-term deficiency because the price action extend beyond the upper zone of 104.06. Nevertheless, after that, the US dollar index rebounded to 103.80. As well as the consumer price index data was proved to be negative because it pushed it below 103.40. The most important thing is that still, the bulls cant obtain an uptrend as it has not been eligible to break May's higher price of 104.16.


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                            Important economic data:



                            As we can see from the attachment below today there is a single high impact data regarding the USD-based pairs. The most influential data is the producer price index (PPI) of the United State which will release by today. Similar to the consumer price index we have a negative anticipate about this news because the current market speculators are expecting to reach 0.5% while the previous ratio is fixed at 1.4%. In addition, the U.S Bureau of Labor Statistics will publish initial jobless claims which are expected at 190k, and the previous number is at 200k. Don't take today's trading lightly.


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                            Active trades:



                            As you all know that I have fee trades from this week. Unfortunately, my running trades in the silver are floating in huge losses of around $500. The silver price looks bullish at this moment. As per my yesterday's analysis, the silver market moves into a downtrend and tests the price action at 21.200 regions. When the price reached at 21.900 price mark I gas thought that the price will rebound again. But it moves according to my intentions and once again declines in a bearish channel.


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                            Silver:



                            The price of silver has been trading in a bearish trend since the market opened on Monday. Yesterday the price action was able to break through the lower zone of the bear's troop at 21.200 regions. But if we look at the daily time frame the price had pulled back to the previous level of 21.900 borders. It was interesting to see that the swing occurred bottom of the support level of 21.188. But cannot maintain the dynamic tendency and returned to the following resistance level of 21.900. As per my point of view, silver will test the upper boundary at 22.500 and go higher.



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                            What do you think about my floating trades in silver? Please let me know your valuable points of view about my trades. That's all for today. See you later with a new update.
                               
                            Tacaz Trading Journal

                            Nothing is true everything is permitted!

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                            • #644 Collapse

                              Hello ladies and gentlemen



                              Greeting and warmest welcome to everyone in my today's journal update. Today is Friday and the last day of the week. In general Friday's trading is horrible for forex traders. Last night the market experience a sharp combination and traded into a wide range of bulls. Sincerely the fundamental data regarding the producer price index (PPI) of the United State published by the Bureau, of labor statistics, had an impact on the price of the US dollar index and after breaking the early May high of 104.16 the price created a new resistance level above 104.90 which was unbelievable development. Frankly, it was a tremendous opportunity for us to generate a decent profit during this unusual reaction of the market.


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                              • Important economic data:



                              In today's economic calendar nothing to see spacial except some medium impact news events. The attachment below shows several medium impacts on the USD index. Prelim UoM Consumer Sentiment will release today and it is settled at 65.2 and the market speculators have a sentiment close to 64.1 which seems negative for the related currency. In addition the FOMC member Mester's speech has a clear impact on the USD-based asset. So try to analyze the market fundamentally instead of technical factors.



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                              • Bonus update:



                              Finally, the waiting moment is over and yesterday forum authority change our accumulation and all forum users received their weekly bonus in the live accounts. It does not matter how much bonus you have received because up and down is part of the bonus system and not blame to moderator and admins. It seems that except for some users all members manage to receive a handsome amount of bonus. For week-17 and 18 I received $29 which is not a satisfactory amount but I am happy with my performance. Because I am sure that it will increase the time by time. So keeping into account, please continue your work. Anyway thanks a lot to Instaforex and invest in social forums to support us financially.



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                              Active trades:
                              • Silver


                              As you may know that I have a few running trades in the silver which are losing a lot of dollars. In the correlation to the US dollar index strength, the price action of the silver declined sharply and hit the nearest support level of 21.705 regions. From a technical point of view, the price is a success to complete the falling range after breaking the double bottom formation in the daily time frame. Now it should roll back to test the upper border of the 22.00 region. But the seller's troop seems to put a negative reflection on the bear's decline deeply.


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                              What do you think about my floating trades in silver? Please let me know your valuable points of view about my trades. That's all for today. See you later with a new update.
                                 
                              Tacaz Trading Journal

                              Nothing is true everything is permitted!

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                              • <a href="https://www.instaforex.org/ru/?x=ruforum">InstaForex</a>
                              • #645 Collapse

                                Hello ladies and gentlemen



                                Greetings and warmest welcome to everyone in my today's journal update. As usual, the market has been closed for remain two days and the weekend is going on. How much you are enjoying your holidays. Hopefully, everyone is spending his/her valuable time with family members and friends. At the end of the last week, the price of the US dollar index break the multiply years higher price and surpass 104.96. But failed to maintain the bullish trend to get additional progress beyond this level and was rejected from there. Still, the price seems to be negative for the bears. In this case, the sellers of XXXUSD pairs should be patient move follow the rules of money management in trading.



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                                Russia and Ukraine crisis development:



                                Almost today 79 days have passed since the crisis started. But any aggressive solution has not been found by the world. There are some rumors are on the front. Let's have a look at these rumors. Recently the president of Ukraine Zelenskyy is ready to talk with Vladimir Putin. Today the Russian representatives will cut off the electricity of Finland as the problems are getting worse in Helsinki. In this regard, no confirmation has come from both sides. In addition, Sweden is ready to join NATO. Nevertheless, Russia has already warned if Sweden or Finland become members of the North Atlantic Treaty Organization it will be a cause nuclear.



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                                Active trades:



                                As you all know that I have had a few running positions in the silver since last week. I have been holding these trades to generate a standalone profit. But unfortunately, the price has been trading in a bearish trend which cause me a while loss, and now it reached above $600. During the weekend the market is closed and not moving anywhere. So the trades are stuck at the same level. Now the price is closed at the 21.060 region which is the middle territory of the bears and bulls and this level will confirm the next movement. So let's see next week what will happen.


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                                Silver:


                                Last Friday the price of silver was able to remain bearish and tested the narrow range around 21.430 regions. After that, the price recovered sharply breaking through the resistance level of 21.065 level. But now we can see that the market is closed near 21.060. I'm sure that this level will bring sharp fluctuations for the bulls or bears. Mostly there was a continuation of the dynamic range but unable to remain stable beyond the current level where the price is closed. Maybe by the next week the price attempt to form a deeper bullish tendency at the expected level of 22.00.


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                                What do you think about my floating trades in silver? Please let me know your valuable points of view about my trades. That's all for today. See you later with a new update.
                                   
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                                Last edited by ; 14-05-2022, 12:21 PM.
                                Tacaz Trading Journal

                                Nothing is true everything is permitted!

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