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  • #2926 Collapse

    Hello everyone, welcome to my trading journal.

    Last week, the US Dollar Index hit a nearly twenty-year high level. However, yesterday, it fell to show some correction at the overbought level. The US Dollar Index has been trending up because the FED is about to tighten monetary policy. Expectations are high that the FED will increase the interest rate to curb the growing inflation rate. Due to geopolitical situations, the inflation rate rises in many countries.

    The Eurozone is still facing a high inflation rate. It happens due to the rise in energy prices. The cost of living is now expensive in many countries. Investors are more concerned about the consequences of the Russia-Ukraine crisis. They are relying more on putting their money in a stable currency, and it is no other than the US Dollar. So, we can see a further rise in the US Dollar Index as long as the Russia-Ukraine crisis is alive.

    Yesterday, many currency pairs attempted to recover from a bearish zone. However, it failed to sustain itself at the end of the trading session. Gold and Crude Oil also lost a few bucks during the last hours of market closing time. The strong US Dollar is impacting the whole forex market. Also, the Commodity market is facing a stiff challenge due to the strong US Dollar. Next week, we may see a further slide in many currency pairs. If the US Dollar resumes its bullish trend, we may see a downtrend in Crude Oil and Gold.

    Active trading positions

    Active trading positions
    • AUDUSD

    Yesterday, I opened two buy trading positions in the AUDUSD currency pair. However, the price didn't move as expected and fell unexpectedly. Due to regained strength of the US Dollar, the currency pair fell below the support area. I opened the first buy trading position at 0.7160 and the second at 0.7103. Currently, the AUDUSD is trading at 0.7060. So, my trading positions are in floating loss. The first trading position is in 100 pips floating loss. The second trading position is at 43 pips negative pips.

    AUDUSD 4 Hours Chart
    • EURGBP

    The EURGBP trading position is showing a -$5.03 loss. The currency pair has been trading within a limited range. I decided to open a sell trading position at 0.8386 with one standard lot. However, I didn't put any stop loss or profit target into the sell trading position. There was a bearish slope in the 4 hours chart. After analyzing the price action, expectations are high that it'll follow the bearish trend.

    EURGBP 4 Hours Chart
    • EURJPY

    Yesterday, I opened a sell trading position in the EURJPY currency pair. I opened the sell trading position at 136.78 with one standard lot. The EURJPY currency pair closed at 136.91, i.e., ten pips above the entry-level. In the 4 hours chart, we can find a bearish trend. However, the currency pair didn't move as expected. Next week, I'll close it manually once it goes below the entry level.

    EURJPY 4 Hours Chart
    • EURUSD

    Yesterday, I opened another short trading position. I opened a sell trading position at 1.0579 with one standard lot. I didn't put any stop loss or profit target. Unfortunately, the price dropped and now shows 35 negative pips. In the 4 hours chart, we can find a mixed momentum in the currency pair. I'll hold the trading position until and unless it goes in the right direction, i.e., up.

    EURUSD 4 Hours Chart
    • GBPUSD

    The GBPUSD currency pair also dropped a little at the market closing time. Yesterday, I opened a buy trading position at the 1.2570 price level. I choose one standard lot for the buy trading position. However, it didn't move as expected and dropped during the last hours of the market closing time. It is now showing 40 negative pips. In the 4 hours chart, the trend is still up. It may take some time for the currency pair to resume its bullish movement. I'll close the buy trading position in profit.

    GBPUSD 4 Hours Chart
    • NZDUSD

    After a long time, the NZDUSD has been moving up. Unfortunately, it dropped at the last hours of market closing time. Yesterday, I opened a buy trading position in the currency pair. I opened the buy trading position at 0.6524 price level with one standard lot. It shows 77 negative pips, and I can consider it a lot compared to the overall equity.

    NZDUSD 4 Hours Chart
    • USDCAD

    I opened a sell trading position in the USDCAD currency pair. Furthermore, I opened the sell trading position by observing the price action. The open price level was 1.2736, and the trading volume was one standard lot. I didn't put any stop loss or profit target into the sell trading position. Due to some weakness in the US Dollar Index, the price of the USDCAD fell a little. I decided to open a sell trading position at that time. Unfortunately, it proved to be a poor trading decision. Anyway, I'll try to hold the trading position until it moves down.

    USDCAD 4 Hours Chart
    • USDCHF

    Yesterday, I opened a sell trading position in the USDCHF currency pair. I opened a sell trading position at 0.9698 with one standard lot. I didn't put any stop loss or profit target. The market is already closed. Now, the floating loss is around $43.12. I sold the currency pair at an overbought level. The currency pair has been trending down during the opening of the sell trading position. However, it spiked up at the end of the market closing time.

    USDCHF 4 Hours Chart
    • USDJPY

    Yesterday, I opened a sell trading position in another USD based currency pair. I opened a sell trading position in the USDJPY at 129.30 with one standard lot. However, I didn't put any stop loss or profit target into the sell trading position. The currency pair closed at 129.83, with a -$40.82 floating loss. In the 4 hours chart, we can find a series of bearish candles. Despite some retracement, the overall trend is still down. So, I'm expecting that it'll be able to breach below the entry-level.

    USDJPY 4 Hours Chart
       

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    • <a href="https://www.instaforex.org/ru/?x=ruforum">InstaForex</a>
    • #2927 Collapse

      Hello everyone, welcome to my trading journal.

      Market Overview

      There are a lot of chances that the US Dollar Index will continue to go up. Last week, the Dollar Index performed well, and it spiked up to break the resistance level. Technical and fundamental both support the US Dollar Index to continue its bull rally. The ideal economic policy in the USA helps the US Dollar to move north.

      The Russia-Ukraine crisis is still impacting the commodity market. The Ukraine foreign minister expressed that the next round of European Union sanctions on Russia should include an Oil ban. The European Union is already in favour of banning oil imports from Russia by the end of the year. This news may impact Crude Oil prices and push the price up. The impact of the geopolitical crisis is not only limited to commodity prices but also food prices. One of the German leaders warned that the ongoing crisis would lead to a worldwide hunger crisis. Russia and Ukraine are one of the biggest producers of food grains. But due to the current geopolitical conditions, the food supply may get impacted.

      US Dollar Index Weekly Chart

      US Dollar Index Daily Chart

      Last week I got a margin call, and currently, I'm trading in the demo account. I got two margin calls last week. The worst part is that I got two margin calls within a single day. Last week, I lost around -$75.45 bonus amount. However, I made around $51.26 profit and withdrew it to my Skrill account. So, technically, I didn't lose the whole amount. If I deduct $51.26 from -$75.45, it is -$24.19. It means I lost only -$24.19 last week. You can view the weekly statement in the following screenshot. However, I've only $0.80 left in the bonus trading account.

      Current account balance

      My weekly statement of the bonus account

      Last week, I traded in several currency pairs. All were short trading positions. In total, I executed 13 trades and won 5 of them. On the other hand, I lost eight trading positions. The highest profit from a single trading position was $17.14. I got that much profit from the AUDUSD short trading position. If we look at the highest loss amount in a single trade, it was in the EURGBP sell trading position. I lost around -$17.75 in this particular trading position.

      Weekly Statement Bonus Account
      Working Orders Bonus Account

      Weekly statement of demo account

      Last week I made around $885.37 profit in the demo account. The initial balance was $500, and I decided to resume trades after getting a margin call in the bonus account. In total, I executed 42 trading positions last week. I made around $382.41 profit during the week. I won in 32 trading positions and lost in 10 trading positions. The best trade was the BTC buy trading position, where I made around $67.66 profit. The worst trading was in the EURJPY sell trading position, where I lost -$122.16. Out of 42 trades, I opened 22 short trading positions and 20 long trading positions.

      Weekly Statement Demo Account
      Working Orders Demo Account

      Active trading positions

      Yesterday, I updated the active trading positions in the demo account. I've created a pie chart to show you the percentage I'm losing in each trading position. I still have a good balance in the trading account. Furthermore, I will hold the trading positions until it turns positive. Due to sudden changes in trends in several trading positions, I'm getting an immense floating loss.Active trading positions
      • Active Positions In A Pie-Chart (In Amount)

      Active Positions Pie Chart In Amount
      • Active Positions In A Pie-Chart (In Percentage)

      Active Positions Pie Chart In Percentage
         

      Comment

      Advanced mode
      • #2928 Collapse

        Hello everyone, welcome to my trading journal.

        The US Dollar Index is still hovering above the 103.00 price level. Today, the US Dollar Index has been trying to recover its early session losses. In the daily chart, the price action suggests a strong bull rally. Anytime soon, it'll be able to breach the previous week's highest level. Last week, the US Dollar Index hit the 103.90 price level. Once it breaks the highest level, we may see further upside movement in the US Dollar Index.

        Crude Oil and Gold fell sharply due to the strong US Dollar. Crude Oil sustained above the 100.00 psychological level. However, the overall trend is still bearish in the 4 hours chart. On the other hand, Gold fell sharply below the support area. Currently, Gold is trading at around the 1860.00 price level. There is no sign of recovery attempts. Therefore, we can expect that Gold may fall further down.

        Closed trading positions

        Last Friday, I opened several trading positions in the demo account. But all the trading positions didn't move as expected. Today, I decided to close all the trading positions at a loss. I exited most of the trading positions with a loss. After squaring off all the previous week's trading positions, I resumed my trades. Unfortunately, I didn't get the expected result and decided to hit the close button for all the trading positions with a loss. I got a few bucks in EURCHF, Gold and Crude Oil trading positions.

        I lost more than 100 bucks each in the USDCAD, AUDUSD and NZDUSD trading positions. On the other hand, I lost more than $50 in each trading position in the USDJPY, USDCHF, USDCAD, AUDUSD, EURUSD and GBPUSD currency pairs. So far, I have lost more than fifty per cent of the equity in the demo account. I started the demo trading with $500, and it reached $1300 last week. But now it is reduced to $400. So, I lost all the profit within a few days of trading.

        Closed trading positions

        Active trading positions
        Active trading positions
        • EURJPY

        Today, I opened a sell trading position in the EURJPY currency pair. I opened the sell trading position at 136.71 price level with one standard lot. However, I didn't put any stop loss or profit target into the sell trading position. Currently, the sell trading position is in a floating loss. A couple of hours back, the currency pair has been trending down. I decided to open the sell trading position after observing the 4 hours chart. At one point, it was showing some gains. But I didn't close it at that time. I'll hold the sell trading position until it goes below the entry-level.
        EURJPY 4 Hours Chart
        • AUDUSD

        The AUDUSD has been able to sustain above the support level. The currency pair has been trending up from an oversold level. However, it didn't move as expected due to high-impact economic events related to the US Dollar. I opened a buy trading position in the AUDUSD currency pair. The open price level is 0.7076, and the trading volume is one standard lot. The AUDUSD currency pair is almost flat and hovering within a limited range. I'm expecting that it'll rise soon from the oversold level.
        AUDUSD 4 Hours Chart
        • USDJPY

        Today, I opened a sell trading position in the USDJPY currency pair. The trading volume is one standard lot. I opened the sell trading position at 129.96 without a stop loss or profit target. The USDJPY has shown some selling pressure at the overbought level. I decided to open a sell trading position after analyzing the 4 hours chart. In the 4 hours technical chart, we can find a bearish slope. Currently, the sell trading position is in a floating loss. I'll try to hold the sell trading position until it goes in the right direction.
        USDJPY 4 Hours Chart
        • NZDUSD

        The NZDUSD has fallen to the lowest level. Currently, the currency pair is trying to recover from the oversold level. Today, I opened a buy trading position in the currency pair. I opened the buy trading position at 0.6449 with one standard lot. In this particular trading position, too, I didn't put any stop loss or profit target. I'll close it manually once it goes towards the profitable side.

        The currency pair has been trending down for the last couple of weeks. I decided to open it when I saw some recovery attempts. Although my target is limited, I'm ready to hold the trading position to achieve it very soon.
        NZDUSD 4 Hours Chart
        • USDCAD

        I opened a sell trading position in the USDCAD at the overbought level. However, the price didn't move as expected. Currently, the trading position is in a floating loss. Today, I opened the sell trading position at the 1.2868 price level. And I didn't put a stop loss or profit target. The trading volume is one standard lot. After hitting the previous high level, the currency pair started to show some selling pressure. I saw some downward movement in the 4 hours chart. So, I decided to open a sell trading position. But the currency pair resumed its bull rally and breached the previous high level. Once again, the currency pair shows selling pressure on the 4 hours chart. So, I'll hold the sell trading position until it moves down. I'm ready to close it manually once it drops below the entry point.

        USDCAD 4 Hours Chart
           

        Comment

        Advanced mode
        • #2929 Collapse

          Hello everyone, welcome to my trading journal.

          Today, the US Dollar Index lost momentum and shows no particular directional movement. However, we saw some bearish pressure in the US Dollar index. But still, it is hovering above the 103.00 price level. It has also impacted many currency pairs. We saw mixed momentum in a couple of currency pairs. Since the beginning of the week, I have been trading in several currency pairs but failed to grab any significant profit. It might be due to a lack of directional movement in the currency pairs.

          The commodity market is mixed and shows no particular direction. Crude Oil is showing mixed momentum and currently trading at the 104.00 price level. However, Gold is trying to recover from the oversold level. Gold is currently trading at a 1870.00 price level. Any upside movement in the US Dollar pulls back Gold to a more bearish zone.

          Closed trading positions

          Closed trading positions
          • GBPUSD

          Yesterday, I opened a sell trading position in the GBPUSD currency pair. I opened the sell trading position at 1.2481 with one standard lot. However, I didn't put any stop loss or profit target. Today, I closed it at a -$36 loss. I decided to cut the growing losses because I saw some upside movements. Due to the weakness in the US Dollar, the price of GBPUSD started to move up. I closed the sell trading position manually to cut the loss.
          • EURJPY

          Yesterday, I opened another sell trading position, and it was in the EURJPY currency pair. I opened a sell trading position in the currency pair at 136.58. Also, I didn't put any stop loss or profit target in this particular trading position. Today, I closed it at 136.86 to cut the loss. The currency pair didn't move as expected, so I closed it at a minimal loss. I lost around -$21.53 from the sell trading position.
          • AUDJPY

          Yesterday, I executed a sell trading position in the AUDJPY currency pair. I opened the sell trading position at 91.50 with one standard lot. I opened the sell trading position in the currency pair without any stop loss or profit target. Today, I closed it at a -$89.13 loss. I closed the sell trading position at the 92.66 price level to cut some losses. The AUDJPY suddenly spiked up, and the trading position was in a floating loss. So, I closed it manually to avoid further losses.

          Today, I executed another trading position just after closing the previous trading position. However, I opened a buy trading position this time. After observing the sudden spike in the AUDJPY currency pair, I decided to open a buy trading position. I opened the buy trading position at 92.70 with one standard lot. I didn't put any stop loss or profit target into the buy trading position. Later, I closed it at 92.31 to cut the loss. The price pulled back immediately, and I decided to close it manually.
          • EURGBP

          Today, I opened a sell trading position in the EURGBP currency pair. I opened the sell trading position at 0.8394 with one standard lot. However, I didn't put any stop loss or profit target into the sell trading position. Later, I closed it at 0.8409 in a loss. I lost around -$18.78 from the sell trading position. The currency pair has been trending down from near-term resistance. At first, it was not moving as expected. But later, it dropped. Unfortunately, I failed to get the desired profit due to a lack of proper trading decisions.

          Active trading positions

          Active-trading-positions
          • Crude Oil

          A couple of hours back, I opened a sell trading position in Crude Oil with a 0.05 lot size volume. The open price level for the sell trading position was 103.87. I didn't put any stop loss or profit target into the sell trading position. Currently, the trading position is in a floating loss. I decided to open the sell trading position after observing the price action in the 4 hours chart. I saw some downward movement in the 4 hours chart. So, I decided to open a sell trading position in Crude Oil. A few minutes back, it was showing some profit. But I didn't close it at that time. I'll try to hold the sell trading position until it goes below the sell entry for the second time.

          Crude Oil 4 Hours Chart
          • USDCHF

          Today, I opened a sell trading position in the USDCHF currency pair. I opened the sell trading position at 0.9737 price level without any stop loss or profit target. The trading volume is around one standard lot. Today, the USDCHF dropped from an overbought level. The currency pair has breached the lower trendline. It might be due to the weakness in the US Dollar. Also, due to profit booking at an overbought level, it fell sharply. Currently, the trading position is in a floating loss. I'll try to hold the sell trading position and close it manually to book profit.

          USDCHF 4 Hours Chart
             

          Comment

          Advanced mode
          • #2930 Collapse

            Hello everyone, welcome to my trading journal.

            Market Overview

            The US Dollar Index is almost flat ahead of the high-impact economic events. Today, throughout the trading session, the US Dollar index has been hovering above the 103.00 price level, which is well above the psychological level. Last month, Federal Reserve Chairman Jerome Powell commented on increasing the bank rates to 50 basis points to curb the increasing inflation rate. Today, we can see such announcements during the New York market session.

            Crude oil is trending up and currently trading below the 107.00 price level. On the other hand, Gold is almost flat and shows no directional movement. Due to the sideways trend in the US Dollar Index, we can see a lack of momentum in Gold. However, Crude Oil is less impacted by the US Dollar. Due to geopolitical reasons, Crude Oil is showing some bullish rally.

            Closed trading positions
            • Crude Oil

            Crude oil has shown mixed momentum in the last couple of trading sessions. However, I successfully closed the sell trading position to book some profit. I executed a sell trading position in Crude Oil with a 0.05 lot size volume. Yesterday, I opened the sell trading position at the 103.87 price level. Later, I closed the sell trading position at 103.24 to book around $31.50 profit. If I deduct the commission of -$1.50, the net profit is $30.

            Closed trading position

            Active trading positions

            Active trading positions
            • Crude Oil

            Today, I opened a buy trading position in Crude Oil. I opened a buy trading position in Crude Oil at 105.81 with a 0.01 lot size volume. I didn't put any stop loss or profit target into the buy trading position. Currently, the buy trading position is in profit. But still, I'm holding the buy trading position for more gain. I'm expecting that it'll rise from the current level.

            My decision to trade in Crude Oil is the price action. Today, Crude Oil spiked up from the support zone. The instrument has already breached the near-term resistance level. I'm hoping that it'll continue to rise. Currently, Crude Oil is trading above the 106.00 price level. However, I was getting more than 100 positive pips at the current level. But now it retraced a little to show 50 to 60 positive pips. I'm expecting that it will be able to resume its bullish move and reach another high level. After analyzing the trend, my focus is now on the 107.96 price level, the next resistance (the highest level on 29th April 2022).

            Crude Oil 4 Hours Chart
            • EURGBP

            Today, I opened a sell trading position in the EURGBP currency pair. I opened the sell trading position at 0.8406 with one standard lot. The open price level is 0.8406. Currently, I'm trading in the trading position without any stop loss or profit target. I opened the sell trading position after observing the price action in the 4 hours chart. The currency pair suddenly dropped from an overbought level.

            I opened a sell trading position after observing the bear candle in the 4 hours chart. However, it didn't move as expected. The currency pair has been trending up, opposite to my expectations. Despite some opposite directional movement, I'm getting 14 negative pips. So, I'm trying to hold it for a positive result.

            EURGBP 4 Hours Chart
            • USDCHF

            Yesterday, I opened a sell trading position in the USDCHF currency pair. However, the price retraced back, and now the sell trading position is in a floating loss. I opened the sell trading position at 0.9751. Currently, I'm getting more than 50 negative pips from this particular trading position. I'm using one standard lot for this trading position. So, it is risky to hold the buy trading position ahead of the high impact economic events.

            A few minutes back, the ADP Non-Farm Employment Change data was released. In the private sector, employment increased by 247K in April, below the expected number of 382K. In March 2022, the ADP data was 479K. So, we can see a sharp decline in the private sector employment rate. Now the upcoming economic events are the FOMC Statement and Federal Funds Rate. If the price drops in the USDCHF before the high-impact news, I'll close the sell trading position manually.

            USDCHF 4 Hours Chart

            Scheduled Economic Events

            As mentioned above, today we've some important economic events. The ADP Non-Farm Employment Change has already released a negative number. However, we've FOMC Statement and Federal Funds Rate high impact news events. So, we should be careful during these economic events and try to avoid trading during this time if it is possible.

            Scheduled Economic Events
               

            Comment

            Advanced mode
            • #2931 Collapse

              Hello everyone, welcome to my trading journal.

              Market Overview

              Yesterday, the US Federal Reserve increased the bank rate by 50 basis points. Investors would have speculated that a further rate hike may be possible in the June meetings. However, the Federal Reserve Chairperson Jerome Powell indicated no such planning in the future. It had impacted negatively, and the US Dollar fell unexpectedly. Currently, the US Dollar is trying to recover from earlier losses.

              50 basis points

              US Dollar Index

              The price of Crude Oil shoots up due to some economic and political news coming from EU nations. On Wednesday, European Union countries are proposing a ban on Crude Oil imports from Russia within six months. Also, the refined products by the end of 2022. It had impacted severely, and Crude Oil started to rise. A few European countries are still concerned about the implications caused by the Oil ban. There would be some exemptions for a few European countries. Those are heavily dependent on Russian oil imports. For example, Hungary and Slovakia may be able to import Crude Oil until 2023.

              Closed trading positions

              Closed trading positions
              • USDCHF

              On 03rd May 2022, I opened a sell trading position in the USDCHF currency pair. I executed the sell trading position at 0.9751 with one standard lot. However, it didn't move as expected. Yesterday, it spiked up before high-impact news. I decided to close the sell trading position at 0.9826. I lost around -$77 from the sell trading position. Later, the price fell after major economic events. I could earn a good profit if I didn't close it at that time. But there were a lot of chances that the price would go up.
              • EURGBP

              Yesterday, I closed a sell trading position in the EURGBP currency pair. I updated you about this particular trading position in my previous post. I closed the sell trading position at a loss. The open price level of the sell trading position was 0.8406, and I exited from the trading position at 0.8433 price level. I lost around -$33.76 from the sell trading position.
              • Crude Oil

              Yesterday, I traded in Crude Oil. I opened a buy trading position in Crude Oil with a 0.01 lot size volume. The open price level was 105.81, and I didn't put any stop loss or profit target into the buy trading position. Later, I closed it at 106.44 to book around $6 profit.


              Active trading positions

              Active-trading-positions
              • AUDUSD

              Today, I opened a sell trading position in the AUDUSD currency pair. I opened the sell trading position at 0.7237 with one standard lot. I decided to trade in the currency pair by observing the selling pressure. Yesterday, the AUDUSD spiked up to reach the near-term resistance area. However, it started to show some bearish pressure. I took it as a selling opportunity. Currently, the sell trading position is trending down with above 90 positive pips. I'll try to hold the sell trading position for more time until it reaches the support area.

              AUDUSD 4 Hours Chart
              • EURUSD

              Today, I opened a sell trading position in another currency pair. It was in the EURUSD currency pair. Currently, the sell trading position is in profit. I'm holding the sell trading position for more positive gain. Yesterday, the currency pair spiked up to hit the near-term resistance level. Today, it started to fall from yesterday's high level.

              Yesterday, we saw a very different scenario. After the bank rate announcement, the US Dollar dropped, and thus, the price of EURUSD spiked. Today, the US Dollar started to rise again. It pulled the EURUSD currency pair down. Still, there are a lot of chances that the EURUSD will drop further below the current price level. Due to geopolitical situations and the rise in energy prices, the Eurozone is under pressure. A basket of currencies is under bearish pressure against the US Dollar, including the EURUSD currency pair.

              EURUSD 4 Hours Chart
              • USDCAD

              The USDCAD moved up after hitting the support level. However, I made the wrong trading decision today. I opened a sell trading position when the price started to decline. I saw some potential in the Canadian Dollar due to the increase in Crude Oil prices. But I failed to predict the currency pair perfectly. Currently, the USDCAD is trending up, and the trading position is showing 100 negative pips.

              It seems that the Canadian Dollar lost traction against the US Dollar. In the early trading hours, the currency pair was showing a downtrend. I decided to open a sell trading position in the currency pair. Expectations were high that it would fall further down. Meanwhile, I opened the sell trading position at the 1.2716 price level. I took some risks and traded with one standard lot. Also, I didn't put any stop loss or profit target into the sell trading position. I'm still holding the trading position despite its opposite movement. I may close it manually to cut losses.

              USDCAD 4 Hours Chart
                 

              Comment

              Advanced mode
              • #2932 Collapse

                Good afternoon everyone. Welcome to my trading journal.

                Market Overview

                The US Dollar has been able to sustain above the near-term support. Yesterday, it was able to revive from earlier losses. Currently, the US Dollar is hovering above the 103.00 price level. If we look at yesterday's daily candle, it opened at 102.47 and closed at 103.54, a steep rise from the support area. After announcing the 50 basis point hike in the interest rate by the FED chair Jerome Powell, it showed mixed momentum. I already explained a little about its sharp fall in my previous post.

                Yesterday we saw a steep rise in Crude Oil. However, it has been trending down after hitting a weekly high level. Currently, Crude Oil is trading above the 108.00 price level. On the other hand, Gold is showing some upside movement. The precious metal is now trending up from an oversold level. Yesterday, it rose sharply but was unable to sustain in the end. Now again, the price of Gold is rising slowly from the near-term support area.

                Closed trading positions

                Closed trading positions
                • USDCAD

                Yesterday, I updated you about a few trading positions. I mentioned the USDCAD sell trading position. Later, I closed the seIl trading position at a loss. I lost around -$99.66. The open price level was 1.2716, and I exited at 1.2844 to cut losses. I didn't place any stop loss, so I manually closed it to avoid further losses.

                There was some confusion due to mixed momentum in the US Dollar Index. I was expecting the price would fall, so I was holding the trading position and didn't close at an early stage. As a result, I lost a big chunk of equity.
                • AUDUSD

                Yesterday, I got a good profit from the AUDUSD sell trading position. I got around $136 profit from the sell trading position. The open price level was 0.7237, and I closed it at 0.7101. I closed the sell position manually because I didn't set the profit target. Also, I didn't place any stop loss into the sell trading position. The trading volume was around one standard lot. Yesterday, in my previous post, I described the reason behind opening the sell trading position.
                • EURUSD

                The strength of the US Dollar helped the EURUSD currency pair to fall from the near-term resistance area. Yesterday, I opened a sell trading position after observing the price action and the price level. I opened a 0.10 lot size trading volume to execute the sell trading position. I was constantly monitoring the sell trading position. Despite the low volume trading position, I got around $7.40 profit. The open price level was 1.0591, and I closed it manually at 1.0517 to book that much amount.

                One day back, due to a sudden spike in the EURUSD currency pair. However, I decided to short it at near-term resistance. Before the execution, I was able to analyze the trend perfectly. The currency pair started to fall from the near-term resistance area. It went well, and I got around 74 positive pips.
                • AUDJPY

                Today, I opened a sell trading position in the AUDJPY currency pair. I opened the sell trading position at 92.70 with a stop loss at 92.95 and a profit target at 92.73. The trading volume was around one standard lot. I decided to execute the sell trading position after analyzing the trend in the 4 hours chart. We can find a series of bear candles in the 4 hours chart.

                An hour back, the sell trading position hit the profit target level. I placed the profit target at the near-term support level. So, it hit the profit target within a short period. I got around $23.74 profit from the sell trading position.
                • EURCHF

                Lately, I opened a sell trading position in the EURCHF currency pair. I opened the sell trading position after observing the sharp fall in the 4 hours chart. The open price level was 1.0341, and I didn't put any stop loss or profit target. A few minutes back, I closed the sell trading position at a loss.

                The currency pair fell unexpectedly from an overbought level. I decided to open a sell trading position. Unfortunately, the currency pair got retraced, and I closed it manually to cut losses. I closed the sell trading position at the 1.0401 price level and lost around -$60.88.
                • Gold

                Today, I opened a buy trading position at Gold with a 0.01 lot size volume. I executed the trade with minimum risk with stop loss and profit target. I opened the buy trading position at 1876.12 with a stop loss at 1858.75 and a profit target at 1901.26 price level.

                Yesterday, Gold bounced up and was unable to hold the gains. Later, it fell to the support area and is now trying to go up again. In the 4 hours chart, we can identify an ascending channel. A couple of minutes back, I closed it at the 1878.98 price level to book profit. I made around $2.86 profit from the buy trading position.

                Active trading positions

                Active trading positions
                • AUDUSD

                Today, I opened another sell trading position in the Aussie based currency pairs. I opened a sell trading position in the AUDUSD currency pair with one standard lot. The open price level is 0.7106, and I placed the stop loss at 0.7138. I put the profit target at the 0.7099 price level. Currently, the sell trading position is showing 30 positive pips.

                The reason behind opening the sell trading position was the bearish trend. Also, we can identify a descending channel formed by lower high and lower low levels. I made the sell entry at a lower high level. I'm expecting that it'll hit the profit target very soon.

                AUDUSD sell trading position
                • GBPUSD

                Today, I saw a sharp fall in the GBPUSD currency pair. The currency pair has been able to breach the near-term support level. I decided to enter a sell trading position after getting confirmation. I opened the sell trading position at 1.2277 without any stop loss or profit target. Furthermore, I'm using one standard lot for the sell trading position.

                Currently, the sell trading position is showing some negative pips. The currency pair retraced a little. In the short term, we may find some mixed momentum. But the overall trend is still bearish. I'll try to hold the sell trading position until it moves down to bearish territory.

                GBPUSD sell trading position

                   

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                • #2933 Collapse

                  Hello everyone, welcome to my trading journal.

                  Market Overview

                  On Friday, the US Dollar Index hit the 104.03 price level. It was the highest level since December 2002. Meanwhile, the price wasn't able to sustain above the 104.00 level. Later, it retraced a little to close at the 103.63 price level. The positive economic news pushed the US Dollar to a new high level. The Non-Farm Employment Change data was released, and it was 428K. It was more than the expected number of 390K. The Average Hourly Earnings rose by 0.3%, which was less than March month's data. During March, the Average Hourly Earnings were 0.5%. It impacted positively, and the US Dollar regained its bullish strength.

                  Scheduled Economic Events

                  Closed trading positions

                  Yesterday, I lost the whole trading account due to a margin call. I was trading in several trading positions. However, I lost a big chunk of equity in the GBPUSD sell trading position. I executed the trading position with one standard lot. I opened a sell trading position in the currency pair at 1.2277. Unfortunately, the price started to move up and stopped at 1.2374. I lost -$97 from the sell trading position. After that, the other sell position also stopped out, and it was in the AUDUSD currency pair. I opened the sell trading position at 0.7106. Unfortunately, it closed automatically at 0.7113 due to a low margin. I lost around -$7 from the sell trading position in the AUDUSD currency pair.

                  Closed trading positions

                  Active trading positions

                  Today, I opened a new demo account to resume my trades. I'm trading in cryptocurrencies and have opened a few trading positions. Let's discuss it one by one.
                  Active trading positions
                  • Bitcoin

                  Today, I opened a buy trading position in Bitcoin with a 0.01 lot size volume. The open price level is at 36021.58. On the other hand, I placed the stop loss at 35190.72 and the profit target at 35976.48 price levels. Bitcoin is now hovering around the support level. I decided to open a buy trading position after looking at the 4 hours candlestick chart. I placed the stop loss below the support area, and at the same time, it is below the previous low level. On the other hand, I put the profit target at the near-term resistance area. I'll try to hold the buy trading position until it moves up to hit the profit target level.
                  Bitcoin 4 Hours Chart
                  • Ethereum

                  We can find similar movements in Ethereum too. So, I decided to open a buy trading position in Ethereum with a 0.01 lot size volume. Today, I opened the buy trading position at the 2687.21 price level. Also, I placed the stop loss and profit target in the trading position. I put the stop loss at 2629.38 and the profit target at 2768.27. I'm trading with low risk in this particular cryptocurrency. Even if it hits the stop loss level, I'll lose only -$0.58. On the other hand, I'll get a $0.81 profit if it hits the profit target level.
                  Ethereum 4 Hours Chart
                  • Litecoin

                  Today, I opened another buy trading position in the new demo account. I opened a buy trading position in Litecoin with a 0.01 lot size volume. The cryptocurrency is standing in the support zone. So, I decided to open a buy trading position. The open price level for this particular trading position is 97.33. I placed the stop loss at 91.94 and the profit target at 102.75.

                  Litecoin 4 Hours Chart
                     

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                  • #2934 Collapse

                    Hello everyone, welcome to my trading journal.

                    Market Overview

                    Most central banks have been increasing the interest rate to combat inflation in their respective countries. Also, the US Federal Reserve has increased the interest rate by 50 basis points. It also impacted the cryptocurrency market. We can find that most cryptocurrencies have lost their ground due to the strong US Dollar. Bitcoin fell below the $35K level. Within the last 24 hours, the global crypto market has lost more than 4.5%, equivalent to $1.66 trillion.

                    Yesterday, I was trading in Bitcoin, Litecoin and Ethereum. All trading positions dropped to hit respective stop-loss levels. I opened trading positions in the same cryptocurrencies, except for Litecoin. Meanwhile, I added a new trading position, and it is Ripple. Currently, I'm trading in BTC, Ethereum and Ripple.

                    Closed trading positions

                    Yesterday, I lost around -$14.28 from three trading positions in cryptocurrencies. Let's discuss everything in detail.

                    Closed-trading-positions
                    • Bitcoin

                    Yesterday, I opened a buy trading position in Bitcoin at the 36021.58 price level. The trading volume was around 0.01 lot. I placed the stop loss at 35190.72 and the take profit at 37568.39. Unfortunately, the price fell and hit the stop loss level. Due to a continuous bearish pressure in cryptocurrency, I lost the trading position. I lost around -$8.67 from the sell trading position.
                    • Ethereum

                    Yesterday, I made a minimal loss from the Ethereum trading position. I opened a sell trading position in the cryptocurrency at the 2687.21 price level. On the other hand, I placed the stop loss at 2629.38 and the profit target at 2768.27. The trading volume was around 0.01 lot.

                    I was expecting that Ethereum would rise from the support area. However, it didn't move as expected. Later, I got a stop-loss hit due to a sudden fall in the Ethereum value. I lost around -$0.61 from the sell trading position.
                    • Litecoin

                    Yesterday, I was trading in Litecoin. I'm still not satisfied with this particular trading position. The reason is that I lost a big chunk of equity from this trading position. I lost around -$5.49 from the buy trading position.

                    The entry point was 97.33, and the stop loss was 91.94. On the other hand, the profit target was at the 102.75 price level. The cryptocurrency wasn't able to sustain itself in the support area. Due to some selling pressure, the cryptocurrency fell to hit the multi-day lower level.

                    Active trading positions

                    Active-trading-positions
                    • Bitcoin

                    Today, I opened a sell trading position in Bitcoin with a 0.01 lot size volume. I opened the sell trading position at the 34686.58 price level. The stop loss is 35057.23, and the profit target is 33120.55. After losing the previous trading position, I decided to open a sell trading position. The trend is still bearish, and sooner or later, it'll fall further down from the current price level.

                    In the 4 hours chart, We can find a bearish slope. However, we can also find some recovery attempts at the current level. In the short term, we may get some mixed momentum. But the overall trend is bearish. I'm expecting that the popular cryptocurrency will be able to hit the profit target level.

                    Bitcoin 4 Hours Chart
                    • Ethereum

                    Today, I opened a sell trading position in Ethereum at the 2553.22 price level. Furthermore, I placed the stop loss at 2587.79 and the profit target at 2466.48. The trading volume is around 0.01 lot size. All the cryptocurrencies are under bearish pressure, including Ethereum. I decided to open a sell trading position after observing different time frames.

                    In the daily and 4 hours chart, we can find a descending channel. The cryptocurrency has extended its weakness for the 4th consecutive session. Perhaps, it'll continue to go down towards the next support area. I placed the profit target above the immediate support. So, I am expecting it'll hit the profit target very soon.

                    Ethereum 4 Hours Chart
                    • Ripple

                    Today, I opened a sell trading position in another cryptocurrency. I'm trading in Ripple for the first time. I want to experience it by opening a small lot. Furthermore, I opened a sell trading position in Ripple with a 0.01 lot. On the other hand, I placed the stop loss at 0.5866 and the profit target at 0.5459. The reason behind opening the sell position is the price action. I saw a downward slope in the 4 hours chart. Also, Ripple has been able to breach the support level.

                    In the daily chart, we can find a bearish trend. The cryptocurrency was unable to revive from the support area. So, there are a lot of chances that it'll fall again. I placed the stop loss at 165 pips distance. On the other hand, the profit target is around 242 pips below the entry-level. I'm trying to put the profit target near the previous lower level.

                    Ripple 4 Hours Chart
                       

                    Comment

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                    • #2935 Collapse

                      Good afternoon everyone. Welcome to my trading journal.

                      Market Overview

                      The US Dollar remains bullish and extending towards the 104.00 price level. Currently, the US Dollar has been hovering near the two decade higher level. Last Friday, more than expected Payroll data helped the US Dollar to resume its bull rally. Also, the Federal Reserve's hike in the interest rate support the currency. However, the FED chair rejected the idea to increase the bank rate to 75 basis point in upcoming meetings. The next determinant factor would be the US Consumer Price Index for April month.

                      In G7 meetings during weekend time, further sanctions imposed on Russian Oil. They are planning to terminate the Oil shipping services within 3 months time. We may see some implications in the Crude Oil prices. As we know European Union is trying to find alternative sources to replace Russian Oil. But it is not possible in an immediate effect. So, few European countries are exempted from it, for example, Hungary, Slovakia and the Czech Republic. It may take time to fully replace the alternative sources for the whole European Union countries. Meanwhile, USA and UK has already banned the Oil imports from Russia. On the other hand, Gold is showing some downward movement due to strong US Dollar.

                      Closed trading positions

                      Closed trading positions
                      • Bitcoin

                      Yesterday, I opened a sell trading position in Bitcoin with 0.01 lot size volume. I opened the sell trading position at 34686.58 with stop loss and profit target. Today, I closed it manually at 33511.63 to book profit. I made around $11 from the sell trading position. Despite placing the profit target I decided to close it manually. The reason behind closing the sell trading position manually was that it had already fallen to an oversold level. At any moment the price may reversed back. So, I decided to close it manually to book profit.
                      • Ethereum

                      Yesterday, I was trading in Ethereum with 0.01 lot size volume. Today, it hit the profit target level. The open price level was 2553.22 and the profit target was at 2466.48. I got $0.84 profit from the sell trading position. I got minimal profit but still I'm satisfied with the amount.
                      • Ripple

                      Yesterday, I traded in an another cryptocurrency. I opened a sell trading position in the Ripple with 0.01 lot size volume. The open price level was 0.5701 and I closed it at 0.5660. However, I placed the stop loss and profit target. But I decided to exit with minimal profit. The cryptocurrency has already fallen to the oversold level. In such conditions, most of the time price bounced back. So, I decided to close it with a minimal profit. I got around $0.35 profit from the sell trading position.

                      Active trading positions

                      Active trading positions
                      • Gold

                      Today, I opened a sell trading position in Gold. I opened the sell trading position at 1875.50 with 0.01 lot size volume. I placed the stop loss at 1886.95 and profit target at 1857.47 price level. In the 4 hours chart, the price action suggests a selling pressure. It has been building a series of bear candles in the 4 hours chart. I placed the stop loss above the daily high level. On the other hand, I placed the profit target above the support zone.

                      We can find bearish pressure across all the time frames. The weekly, daily and 4 hours charts are showing bear candles. We can find the intensity of selling pressure by observing the weekly chart. The precious metal has lost its ground for the fourth weekly market session. However, in the daily chart, we can find mixed momentum. Due to stong US Dollar Gold is showing downward movement. So, I'm expecting that Gold will extend further bearish rally and able to hit the profit target level.
                      Gold 4 Hours Chart
                      • AUDUSD

                      The AUDUSD has been trending down to hit the multi-week lower level. Today, I opened a sell trading position after observing the bearish candles in the 4 hours chart. The currency pair has already breached the support level. I opened the sell trading position at 0.7019 with stop loss at 0.7069 and profit target at 0.6919 price level. I placed the stop loss at around 50 pips away from the entry level. On the other hand, the profit target is at 100 pips below the sell entry.

                      The price action across all time frames indicating a strong bear rally in the currency pair. The US Dollar has been dominating the Australian Dollar in a greater way. The currency pair has extended its weakness for the third consecutive session. On the other hand, the weekly chart also shows a series of bear candles. We can find that it has lost its ground for the 6th weekly session. So, the overall trend is bearish which prompted me to open a sell trading position.

                      I traded particularly based on the 4 hours chart. I saw a series of bear candles in the 4 hours chart. Also, the candlestick chart shows a breakdown below the support level. Currently, the sell trading position is showing good profit. However, I'll try to hold it for more time until it hit the profit target level.
                      AUDUSD 4 Hours Chart
                      • EURUSD

                      The EURUSD currency pair has shown bear rally across all time frames. Today, I opened a sell trading position in the currency pair. I opened the sell trading position at 1.0512 price level. I placed the stop loss at 1.0562 price level and profit target at 1.0412. Here, the stop loss is at 50 pips away from the entry level. On the other hand, the profit target is at 100 pips below the open price level.

                      I decided to open the sell trading position after getting confirmation in the 4 hours chart. I saw a good bearish momentum in the 4 hours chart. Also, the daily and weekly charts also shows bearish trend. The currency pair has already reached the oversold level. Despite that I've opened a sell trading position. The strong US Dollar is still impacting the whole forex market and the EURUSD is not an exceptional. There is no major economic events for today. So, there are a lot of chances that the price will fall further down from current level.
                      EURUSD 4 Hours Chart
                      • GBPUSD

                      We can find similar trend in GBPUSD currency pair too and it is the bearish trend. Today, I opened a sell trading position in the GBPUSD currency pair with one standard lot. The open price level is 1.2295 and the stop loss is at 1.2345. On the other hand, the profit target is at 1.2195 price level. The GBPUSD currency pair has fallen for the third straight session. The currency pair has breached the support level. Currently, showing few positive pips. However, I placed the profit target at 100 pips below the sell entry level.

                      The price action in the 4 hours chart shows a descending channel. It helped me to identify the sell opportunity in the currency pair. There is no sign of recovery attempts because of strong selling pressure. The currency pair has already fallen too much. However, there are lot of chances that it'll continue to fall below the current price level. Currently, the currency pair is hovering within a limited range. I'm expecting that, during New York session it would fall further down to hit the profit target level.

                      GBPUSD 4 Hours Chart
                         
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                      Last edited by ; 09-05-2022, 11:26 AM.

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                      • #2936 Collapse

                        Hello everyone, welcome to my trading journal.

                        Market Overview

                        The US Dollar Index is almost flat at an overbought level. Yesterday, the US Dollar hit a 20-year-high level. However, it pulled back a little later. Last week, the FED increased the bank rate to 50 basis points. It had pushed the US Dollar to the 20-year-high level. Today, we can find a sideways trend in the US Dollar Index. Due to the strong US Dollar, both commodities are under some selling pressure. Yesterday, we saw a sharp fall in Crude Oil. However, Crude Oil is still hovering above the 100.00 level. On the other hand, Gold is trading above the support level at the 1857.00 price level.

                        Due to ongoing conflicts between Russia and Ukraine, the commodity market has shown mixed momentum. Despite some downtrend in Crude Oil, we may see some upside movements in the commodity. Crude oil has been trending above $100 per barrel for the last couple of weeks. We can consider the $100 price level as a psychological level for Crude Oil. Any drop in the commodity will bring more opportunities to make buy positions. Apart from this, Gold is still hovering above the support area. We can't deny the possibility of any spike in the precious metal. This week, the US CPI data will be released. Ahead of it, the impact will be visible in the Gold prices. In other words, we may see some rise in the commodity due to an increase in inflation in the US economy.

                        Closed trading positions

                        Yesterday and today, I traded in several trading positions. I updated a few trading positions in my previous post. Despite trading in several trading positions, I lost in most of the trading positions. The AUDJPY and Crude Oil hit stop-loss levels. I closed a few trading positions in profit. Also, I exited a few trading positions in losses. In total, I lost around $194.44 from all the trading positions.

                        Closed trading positions

                        Active trading positions

                        Active trading positions
                        • AUDJPY

                        Today, I opened a sell trading position in the AUDJPY currency pair. I opened the sell trading position at 90.23 without a stop loss or profit target. I choose one standard lot for the sell trading position. Furthermore, I decided to trade after observing the selling pressure in the currency pair. In the 4 hours chart, we can find a series of bearish candles. Also, in the daily chart, the bearish trend is still visible. In addition to this, the currency pair has extended its weakness for the fourth straight session. We can see some retracement at the current level. But the overall trend is still bearish. So, I'll try to hold the sell trading position until it goes to a more bearish zone.

                        AUDJPY 4 Hours Chart
                        • NZDUSD

                        We can find a bearish pressure in the NZDUSD currency pair. In the 4 hours chart, the price action has formed a descending channel. I decided to open a sell trading position after observing the bear candles. Today, the currency pair was trying to show some recovery attempts. However, it resumes its downward movement. I opened the sell trading position at 0.6307 with one standard lot. I'm trading without any stop loss or profit target in this particular trading position.

                        NZDUSD 4 Hours Chart
                        • AUDUSD

                        Today, I opened another sell trading position, and it is in the AUDUSD currency pair. I opened the sell trading position at 0.6950 with one standard lot. However, I didn't put any stop loss or profit target into the sell trading position. The price action shows bearish momentum across all time frames. I'm particularly following the 4 hours chart, where we can find a series of bear candles. The candlestick chart shows a descending channel with lower high and lower lows level. Currently, the sell trading position is in a floating loss. I'm expecting that it'll go down after some time.

                        AUDUSD 4 Hours Chart
                        • USDJPY

                        The USDJPY currency pair has been trending down from an overbought level. The currency pair has extended its weakness for the second straight session. Today, I decided to open a sell trading position after observing the 4 hours chart. I saw some selling pressure in the currency pair, which prompted me to open a sell trading position. I opened the sell trading position at the 129.90 price level. The trading volume is around one standard lot. However, I didn't put any stop loss or profit target into the sell trading position.

                        USDJPY 4 Hours Chart
                        • EURJPY

                        Today, I opened another sell trading position in a Japanese Yen based currency pair. It is in the EURJPY currency pair. I opened a sell trading position in the EURJPY with one standard lot. The open price level is 137.16, and I didn't place any stop loss or profit target into the sell trading position. It seemed that the Japanese Yen was getting stronger and able to overpower all rival currencies. Still today, the EURJPY currency pair was trending down. However, the sell trading position didn't move as expected. The price is hovering above the near-term support area. I'll try to hold the sell trading position and close it manually once it drops below the entry-level.

                        EURJPY 4 Hours Chart
                           

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                        • #2937 Collapse

                          Hello everyone, welcome to my trading journal.

                          Market Overview

                          The US Dollar Index is still hovering within a limited range. Currently, it is showing some selling pressure. However, the US Dollar Index has been able to sustain above the 103.00 psychological level. Ahead of Consumer Price Index (CPI) data release, the US Dollar is trying to show some weakness. Meanwhile, as long as the US Dollar Index sustains above the 103.00 price level, further advancement is possible.

                          Economic Events

                          We can find mixed momentum in the commodity market. Crude oil has been trending up to show some recovery attempts and sustained above the 100.00 price level. On the other hand, Gold is still in the bearish zone. We may see some upside movements in both commodities. If the US Dollar depreciates, then Crude Oil and Gold will be able to show a continuous upside movement.

                          Closed trading positions

                          Closed trading positions
                          • Crude Oil

                          Today, I opened a buy trading position in Crude Oil with a 0.10 lot size volume. I opened the buy trading position at 101.49 without any stop loss or profit target level. I decided to open the buy trading position after observing the bull rally in the 4 hours chart. Later, I closed it at 102.14 to book profit. I made around $62 from the buy trading position.

                          In the last two trading sessions, Crude Oil has been trending down. However, today it was able to show some upside movement. When I saw some recovery attempts in Crude Oil, I immediately opened a buy trading position. It helped me to gain some decent profit. After a long time, I got some good profit from my trades.
                          • USDCAD

                          Today, I traded in the USDCAD currency pair. I opened a sell trading position in the USDCAD currency pair with one standard lot. However, I got only $1.54 profit from the sell trading position. The entry point was 1.3009, and I didn't put any stop loss or profit target. The currency pair has been trending down from an overbought level. After analyzing the trend in the 4 hours chart, I decided to open a sell trading position. I could wait for more time to gain even more profit. But the momentum was slow, and I closed it at a minimal profit.
                          • AUDJPY

                          Today, I opened a buy trading position in the AUDJPY currency pair. I opened the buy trading position at 90.64 with one standard lot. Later, I closed it at 90.65 to book profit. Due to slow movement, I decided to exit with one pip profit. I made only $0.77 profit from the buy trading position.

                          My decision to trade in the currency pair was the price action. I saw some upside movement in the 4 hours chart. The currency pair has been trending up from an oversold level. After opening the buy trading position, it didn't move as expected. So, I decided to exit from the buy trading position without a decent profit.

                          Active trading positions

                          Active trading positions
                          • EURGBP

                          Today, I opened a sell trading position in the EURGBP currency pair. I opened the sell trading position at 0.8538 with one standard lot. The open price level was 0.8538. Currently, the trading position is in a floating loss. I decided to open the sell trading position after observing the 4 hours chart. The currency pair has been trending down from an overbought level.

                          I found a series of bear candles in the 4 hours chart. Yesterday, the currency pair dropped from the resistance area. However, today we can find some mixed momentum. There are a lot of chances that the price would fall further down from the current level. At present, the sell trading position is showing 15 negative pips.

                          EURGBP 4 Hours Chart
                          • AUDUSD

                          The AUDUSD currency pair has been trending up from an oversold level. I found a series of bull candles in the 4 hours chart. I decided to open a buy trading position at 0.6973 with one standard lot. However, I didn't put any stop loss or profit target into the buy trading position.

                          After four consecutive bearish sessions, AUDUSD is currently trying to go up. Due to some weakness in the US Dollar Index, the currency pair was able to sustain above the support zone. The currency pair is still under bearish territory despite some recovery attempts. So, I'll try to monitor the buy trading position and close it at a decent level.

                          AUDUSD 4 Hours Chart
                          • NZDUSD

                          Like AUDUSD, we can find a similar trend in the NZDUSD currency pair. Today, I opened a buy trading position in the NZDUSD currency pair. I opened the buy trading position at 0.6311 with one standard lot. Currently, the trading position is showing some gains. However, I didn't put any stop loss or profit target into the buy trading position.

                          In the 4 hours chart, we can find some bull candles in a row. It confirms that the currency pair is trying to regain lost strength. We can view four consecutive bear candles in the daily chart. But today's daily candle is bullish. The currency pair has already fallen to the lowest level. From the current level, we can expect further upside movements.

                          NZDUSD 4 Hours Chart
                             

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                          • #2938 Collapse

                            Hello everyone, welcome to my trading journal.

                            The US Dollar has been trending up for the sixth straight session. Currently, the US Dollar Index is hovering above the 104.00 price level. We can also find the strength of the US Dollar across the board. A basket of currencies weakened against the US Dollar.

                            The Japanese Yen has shown good strength across all rival currencies. I managed to reap some good profit due to the strong Japanese Yen. A majority of the gain came from the EURJPY currency pair. Apart from this, Crude Oil and Gold have shown mixed momentum throughout the trading session. Crude oil has been able to sustain above the $100 price level. Lately, it has shown some upside movement. On the other hand, Gold is almost flat and hovering within a limited range.

                            Bonus Update

                            Today, I received two forum posting bonuses. In total, I got around $41.54 into my bonus trading account. For week 17, I got around $23.25, and for week 18, I got around $18.29 for forum posting bonuses. Please have a look at the following payment proof.

                            Click image for larger version

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                            Weekly Bonus Statistics

                            Withdrawal request


                            After receiving the forum posting bonuses, I decided to resume my trades in the bonus trading account. I made around $33 profit and made a withdrawal request into my Skrill account. After a minimal fee deduction, I'll receive around $32.54 into my Skrill account. Once I get the amount, I'll update it here as payment proof.

                            Withdrawal Request

                            Closed trading positions

                            Today I traded in several currency pairs. I executed trades in most of the currency pairs based on the trend. Currently, I've no open trading positions. I closed all the trading positions to book around $33 profit. However, I exited a few trading positions with minimal losses.

                            Closed trading positions
                            • EURUSD

                            Today, I opened a sell trading position in the EURUSD currency pair. I opened the sell trading position at 1.0419 with one standard lot. However, I didn't put any stop loss or profit target. Due to the strong US Dollar, the currency pair has been trending down. Later, I closed the sell trading position at 1.0414 to book around $5 profit. The currency pair has already fallen to a multi-month lower level. So, there are a lot of chances that it may retrace at an oversold level. I was a little cautious about it. So, I decided to close it manually to book that much profit.

                            EURUSD 4 Hours Chart
                            • EURJPY

                            Today, I opened sell trading positions in the EURJPY currency pair multiple times. In total, I opened sell trading positions three times. The average trading volume was one standard lot. At first, I opened a sell trading position at 133.50 and closed it at 133.33 to book around $13.28 profit. The second time, I opened a sell trading position at 132.94. Later, I closed it manually at 132.79 to book a profit of around $11.76. The third time, I opened a sell trading position at 132.92 and closed it at 132.74 to make around $14.08 profit. So, the total profit was around $39.12 from only EURJPY sell trading positions. However, I lost some profit in the EURGBP short trading position. Let's discuss it in the next paragraph.

                            EURJPY 4 Hours Chart
                            • EURGBP

                            Today, I opened a sell trading position in the EURGBP currency pair. I opened a sell trading position in the currency pair at 0.8513 with one standard lot. I didn't put any stop loss or profit target into the sell trading position. However, I failed to get the desired result from the sell trading position. I closed it later at 0.8523 to cut losses. I lost around -$12.22 from the sell trading position. Despite losing some amount in the form of cut loss, I'm satisfied with it. Sometimes, it is needed to close trading positions in losses.

                            EURGBP 4 Hours Chart
                            • AUDJPY

                            Today, I opened a sell trading position in the AUDJPY currency pair. I opened the sell trading position at 87.53 price level. I didn't put any stop loss or profit target into the sell trading position. However, I have constantly kept an eye on the currency pair and was ready to close the sell trading position in profit. Later, I closed it at 87.44 to book profit. I made around $7.05 profit from the sell trading position.

                            The reason behind opening the sell trading position was the bearish trend. The currency pair has been trending down continuously. The price action has shown a strong bear really across all time frames. The Australian Dollar weakened against a basket of currencies. We can also find the weakness of the AUD against the Japanese Yen. So, I decided to open a sell trading position after reviewing the price action in the 4 hours chart.

                            AUDJPY 4 Hours Chart
                            • AUDUSD

                            Today, I opened another sell trading position in the bonus trading account. It was in the AUDUSD currency pair. Due to the sharp fall in the AUDUSD currency pair, I opened a sell trading position. Meanwhile, I opened the sell trading position in the currency pair at the 0.6855 price level. The trading volume was around one standard lot. However, I decided to trade without putting any stop loss or profit target into the sell trading position.

                            Later, I closed the sell trading position at 0.6856 in a loss. I lost around -$1 from the sell trading position. I could afford the loss because I got good profit from other sell trading positions. The currency pair has already fallen to the lowest level, so there were a lot of chances that it might reverse back. So, I decided to close it at a minimal loss.

                            AUDUSD 4 Hours Chart
                            • USDJPY

                            The USDJPY has been trending down from an oversold level. However, I failed to gain any significant profit from the sell trading position. Despite a clear downward slope, I didn't make any profit. I lost around -$2.35 from a sell trading position. Today, I opened a sell trading position in the USDJPY currency pair at 127.81 with one standard lot. At one point, the currency pair retraced a little. Therefore, I decided to close it at a minimal loss. I was able to recover the minimal loss from other trading positions.

                            The reason behind opening the sell trading position was the bearish trend. Despite the strong US Dollar, the currency pair has been trending down sharply. It might be due to the strong Japanese Yen. However, I opened the sell trading position at a level where retracement could be possible. In other words, I was a little late to trade in this particular currency pair. Sometimes, the trend changes suddenly after falling sharply. So, I decided to exit from the sell trading position with minimal losses.

                            USDJPY 4 Hours Chart

                            Fulfilled profit withdrawal conditions

                            At first, I decided to open sell positions in EURUSDweek future currency pairs. The trading volume was around 0.10 lots. However, after closing the EURUSDweek future currency pair position in loss, I didn't see any update in the client cabinet. So, I decided to trade in the EURUSDmonth future currency pair. After that, I made a withdrawal request into my Skrill account.
                               

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                            • #2939 Collapse

                              Hello everyone, welcome to my trading journal.

                              The US Dollar Index is still showing good strength. It has already breached the 104.50 price level. Yesterday, the US Dollar Index hit the 104.90 price level. The next target is 105.00, and it is trending up to approach the level. Due to the strong US Dollar and increase in Crude Oil prices, most currencies have lost their value. For instance, the Eurozone is under pressure, and we could see negative impacts in most of the Euro related currency pairs.

                              Withdrawal amount received

                              Yesterday, I made a withdrawal request from my bonus trading account. Today, I received around $32.54 from my Skrill account. It took only a few hours to process the withdrawal amount. I'm happy that I successfully withdrew some profit from my bonus trading account.

                              Payment Received

                              Closed trading positions

                              Yesterday, I didn't update my trading history of the demo account. Before receiving the bonus trading account, I traded in the demo account. However, I closed all the trading positions to book profit. Yesterday, I earned around $45.75 in the demo account. I got mixed results from my trades. At one point, my profit amount was nearly $200. But I lost $207 in the Crude Oil trading position. Also, I lost around -$53 in Gold trading.

                              Closed trading positions

                              Active trading positions

                              Active trading positions
                              • EURCHF

                              Today, I opened a sell trading position in the EURCHF currency pair. I opened a sell trading position in the currency pair with one standard lot. I placed the stop loss at 1.0428 and the profit target at 1.0343 price levels.

                              The EURCHF has been forming a descending channel in the 4 hours chart. The price action has formed lower high and lower low levels. In such conditions, the currency pair always moves within the trendline. I decided to open the sell trading position after observing the price action in the 4 hours chart. Currently, the sell trading position is showing a profit.

                              EURCHF 4 Hours Chart
                              • USDCAD

                              Today, I opened another sell trading position in the demo account. I opened a sell trading position at the USDCAD currency pair. I opened the sell trading position at 1.2994 and put the stop loss and profit target at appropriate levels. The stop loss is at 1.3031, and the profit target is at a 1.2925 price level.

                              The USDCAD has been trending down from an overbought level. In the 4 hours chart, I found a series of bear candles. Therefore, I decided to make a sell entry in the currency pair. Currently, the sell trading position is hovering within a limited range. However, there are a lot of chances that it'll go down below the entry-level. Even if it moves up, I placed stop loss at an appropriate level. So, there is nothing to worry about in this particular trading position.

                              USDCAD 4 Hours Chart
                              • EURUSD

                              Today, I opened a sell trading position in the EURUSD currency pair. The entry-level is 1.0391, stop loss at 1.0428 and profit target at 1.0428 price levels. I'm using one standard lot for this particular trading position.

                              Yesterday, the EURUSD breached the support level to hit a multi-month lower level. Today, the currency pair has been trending up to recover earlier losses. However, the price failed to revive and started to fall again. I decided to open a sell trading position when I saw some selling pressure in the 4 hours chart. In the short term, we have seen a lot of mixed momentum. But the overall trend is bearish, so I decided to open a sell trading position after following the price action in the 4 hours chart.

                              EURUSD 4 Hours Chart
                                 

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                              • #2940 Collapse

                                Hello everyone, welcome to my trading journal. Yesterday, I was trading in two different trading accounts. The first trading account was the demo account, and the second was the bonus trading account. I got a good profit in the demo trading account. However, I lost the bonus account due to a margin call. I lost around $41.56 due to a margin call.

                                Closed trading positions in the demo account

                                Yesterday, I was trading in the demo account. I executed three trades in the EURCHF, USDCAD and EURUSD currency pairs. Out of three trading positions, I lost in one trading position and won in two trading positions. The overall profit was $46.45 from the trading positions.

                                Closed trading positions in demo account
                                • EURCHF

                                On Friday, I opened a sell trading position in the EURCHF currency pair at the 1.0387 price level. I opened the sell trading position with one standard lot. I placed the stop loss at 1.0428 and the profit target at 1.0343 price level. Furthermore, I decided to execute the trade by observing the selling pressure in the currency pair. The currency pair has been trending down in a well-defined bearish slope. I already updated about it in my previous post. Later, the sell trading position hit the stop loss level. I lost around -$40.93 from the sell trading position.

                                EURCHF 4 Hours Chart
                                • USDCAD

                                Yesterday, I got a good profit from the USDCAD sell trading position. I opened a sell trading position at 1.2994 with a stop loss at 1.3031 and a profit target at 1.2925 price levels. The trading volume was around one standard lot. The currency pair has been falling from an overbought level. Due to high Crude Oil prices, the Canadian Dollar became strong. It was well reflected in the USDCAD currency pair. Later, the price fell sharply to hit the profit target level. I got around $53.88 from the sell trading position.

                                USDCAD 4 Hours Chart
                                • EURUSD

                                Yesterday, I opened a sell trading position in the EURUSD currency pair. I opened a sell trading position in the EURUSD currency pair with one standard lot. I opened the sell trading position at the 1.0391 price level. Moreover, I placed the stop loss at 1.0428 and the profit target at 1.0357 price level. After falling to the lowest level, the currency pair has been trending up. However, after some time, it started to fall. So, I decided to open a sell trading position in the currency pair. Later, it hit the profit target level. I gained around $34 from the sell trading position.

                                USDCAD 4 Hours Chart

                                Closed trading positions in the bonus account

                                Yesterday, I executed some trades in the bonus trading account. However, I lost the whole trading account due to a margin call. I opened trading positions in the EURGBP, AUDUSD, USDJPY and USDCAD currency pairs.

                                Closed trading position in bonus trading account
                                • EURGBP

                                Yesterday, I opened a sell trading position in the EURGBP currency pair. The open price level was 0.8501, and the trading volume was one standard lot. However, I didn't put any stop loss or profit target into the sell trading position. The EURGBP has been trending down from an oversold level. However, the currency pair got stuck at the near-term support level. Later, I got a margin call because the trend went against my expectations. I lost around -$8.57 from this particular trading position.

                                EURGBP 4 Hours Chart
                                • AUDUSD

                                Yesterday, I decided to open a buy trading position in the AUDUSD currency pair. The currency pair has been trending up from an oversold level. In the 4 hours chart, I saw a series of bull candles. It had prompted me to open a buy trading position. I opened the buy trading position at 0.6932 with one standard lot. However, the price pulled back a little, and I lost -$16 due to a margin call.

                                AUDUSD 4 Hours Chart
                                • USDJPY

                                Yesterday, I opened a buy trading position in the USDJPY currency pair. However, I closed the buy trading position at a minimal profit. I opened the buy trading position at 129.35 with one standard lot. Later, I closed it manually to book a $0.77 profit. I decided to exit due to the slow movement in the currency pair. Also, I had opened other trading positions which were in floating loss. I decided to close this particular trading position with a minimal profit to minimize the loss. I closed the buy trading position at 129.36 to book one pip profit.

                                USDJPY 4 Hours Chart
                                • USDCAD

                                I already got a good profit in the demo account. So, I was confident that the currency pair would continue to go down. However, my prediction didn't make sense, and I lost a decent portion of the equity in this particular trading position. I saw a bearish candle in the 4 hours chart. It prompted me to open a sell trading position. However, the currency pair retraced, and I got a margin call. I lost around -$17.76 from the sell trading position.

                                USDCAD 4 Hours Chart

                                Active trading positions in the demo account

                                Today, I opened a few trading positions in the demo trading account. I opened trading positions in Bitcoin, Ethereum and Ripple.

                                Active trading positions
                                • Bitcoin

                                Today, I opened a sell trading position in Bitcoin. The open price level is 28849.73, and the trading volume is 0.05 lots. I placed the stop loss at 29999.24 and the profit target at 27729.49. The popular cryptocurrency has been trending down on a well-defined bearish slope. In the 4 hours chart, we can find a series of bear candles. I decided to open a sell trading position after observing the selling pressure in the cryptocurrency. Currently, the sell trading position is showing some profit. However, I'll hold the sell trading position until it hits the profit target level.

                                Bitcoin 4 Hours Chart
                                • Ethereum

                                A couple of hours back, I opened a sell trading position in Ethereum with a 0.05 lot size volume. I opened the sell trading position at 1974.58 and placed a stop loss at 2070.38. On the other hand, I put the profit target at 1876.45 in the sell trading position. We can find a similar trend in Ethereum too. The cryptocurrency has been trending down after showing some recovery attempts. In the 4 hours chart, we can view a bearish trend. I'm expecting that it'll be able to hit the profit target level.

                                Ethereum 4 Hours Chart
                                • Ripple

                                Today, I opened a sell trading position in another cryptocurrency. It is in the Ripple. I opened a sell trading position in Ripple with a 0.05 lot size volume. I opened the sell trading position at 0.3997 with a stop loss at 0.4359 and a profit target at 0.3586. The Ripple has been trending down in the 4 hours chart. Yesterday, there was a bull rally in Ripple. However, it failed to continue the bullish trend. Today, it started to fall, and it prompted me to open a sell trading position in this particular cryptocurrency. Currently, the sell trading position is showing negative pips. However, I'll try to hold it until it reaches the profit target level.

                                Ripple 4 Hours Chart
                                   

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