honey bee's - trading journal

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. This week's dollars index strength will testify to the historical swing high range above 104.90, an overbought conditioning region and open the door for buyers to give additional growth above the 71.3% Fibonacci retracement level at 105.50. In the earlier session, the major instruments and high impact news data will break out of the upper resistance band around 104.00 and then follow through with the immediate bullish impulse by surpassing the barrier of 104.98. In this scenario, the dominant buyer retrieves the 25 and 50-day SMA line at 105.30, and then additional growth may challenge the Bollinger bands trendline around 106.40. In addition, if sellers give a downside indication and decline the price sharply below the 50% Fibonacci retracement level at 103.70, then follow through the immediate support hurdle at 102.50.

Closed trades:

Yesterday, I had buy trades floating on the GBPUSD pair, and the moving price will continue to follow through the previous support and trading below the 200-day SMA line at 1.2150, which will be a dominant range for sellers and recessive divergence below this barrier will open the door for additional losses around 1.2100. In this case, I decided to manage these trades with some pips profit because upside divergence may give reversible correction and daily candle rebound above the 50% Fibonacci retracement level at 1.2230. In addition, if dominant sellers' pressure may be valid for the long term and conditioning may breach the 1.2090 support, then confirmation may decline the price sharply below the middle base of 25 and 50-day SMA line at 1.2030. On the upside, the short-term reversible resistance covers the 1.2270, then follows through the daily and weekly pivot point hurdle around 1.2390.



GOLD:

The price of gold declined significantly throughout the week and breakout the lower descending divergence consolidation level at 1798, which will be a strong revolution of sellers and further decline may directly challenge the 200-day SMA line at 1760. I decided to open sell trades at the current stability zone and wait for the next confirmation level below 1790; when surpassed this support barrier then opened the door for additional losses to reach the expected lower band around 1770. Technically, the MACD was trading below the middle trendline and pointed towards the south, while the Bollinger bands and RSI neutral base recovering 30 will create a bearish inverted head and shoulders pattern and respond to sellers in a massive swing over a range of 1750. On the other hand, if buyers' pressure crosses the 50% Fibonacci retracement level at 1830, the expected divergence may control the 50-day SMA line middle base at 1850. The current scenario gives negative direction moves, and further decline may attract sellers to reenforced sellers pressure around 1750



Current Position:

Currently, I had sell trades floating with 0.01 lot size each and wait for next week's session breakout obstacles around 1795, when passing through 200-day SMA line then open the door for sellers pressure around 1780 then manage these trades with good profit. In the case of bearish rejection and buyers' strength may rebound to the 38.3% Fibonacci retracement level at 1845, then bears may no longer and upside band breakout 1860-1890 in next week trading.

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. Today is Sunday, and we are enjoying the weekend holidays. Also, we can analyze the previous week's market movement and how much we can earn from the new support or resistance-breaking channel of significant pairs and assets. As we can see, the dollars index strength will breakout the historical swing high range of 104.98 and give weekly closing below 104.40, which will indicate that the bullish trend resume for next week, and when it surpasses the 100-day SMA line, then open the door for buyers to give additional growth around 105.80. In the earlier session, if high-impact news data holds the price above 105.00, then the expected breakout range will give bullish correction and buyers pressure with crossing the 71.8% Fibonacci retracement level at 106.30. On the downside, if sellers' pressure rebounds, the price, and prediction may reject the upside base; then, first support located in massive swing over a 50-day SMA line at 103.00 overbought conditioning region may decline the price below the descending trendline of the neutral base at 100.80.


Previous week's history:

As you can see in the attached chart, I had multiple trades floating on the EURUSD, GBPUSD, AUDUSD, gold, and crude oil, and the high fluctuation of the dollar index will decline the price of significant pairs throughout the week and give good profit in the trend direction of the market. The cost of EURUSD and GBPUSD will both decline and break the new support divergence channels in the oversold region. The creation of an inverted head and shoulders pattern will give additional losses to crossing the new bridge of the 200-day SMA line at 1.0349 and then follow through the pound market around 1.2155. In this scenario, the downside trades closed with good profit, and another crossover of the upside band will clear the signal for next week's trading. On the other hand, the price of gold breaking the multi-week lower descending channel at 1798 and weekly closing near 1811 will indicate further losses in the massive divergence range of 1770 and then pullback reversible correction possible around 1845. The overall weekly performance will give more than $210 profit and manage all trades before the market closing. Now, wait for next week's session opening level and indication from the dollars index to execute additional trades and grab the pips from the market.



GOLD:

The price of gold declined significantly throughout the week and testified to the lower descending channel below the 200-day SMA line at 1798, which will be the dominant range for sellers, and recessive divergence may challenge the 38.3% Fibonacci retracement level at 1786. I had already sold trades floating from 1814 and plan to keep holding these positions below the 1780 support zone. If the price is rejected in the first session, the downside base and further growth may appear above the 50-day SMA line at 1835, bears may no longer, and the upper-middle band will clear the direction for 1870. Technically, the MACD is trading below the middle trendline while the Bollinger bands and oscillator clouds show an oversold conditioning region at 1800. In this scenario, the downside pressure resume, and taking out the bottom descending channel will attract sellers to breach 1780 and then follow through the immediate support hurdle at 1860. Traders need to wait for the next breaking neckline of the 50 and 100-day SMA line, then take additional risks with the new trend direction of the metal market.



Current positions:

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. The price of the dollar index continues to strengthen from the last couple of sessions and breakout the multi-month peak divergence level of 104.98, which will indicate that breaking the barrier of the 200-day SMA line will open the door for buyers through the month and expected range will clear the signal for 106.00. In the earlier session, if the moving price breaks the overbought rally of 71.3% Fibonacci retracement level at 105.55, additional growth may challenge the 25 and 50-day SMA line at 106.40. Currently, the bearish reversible makes short-term correction and fluctuating below 104.30 will decline the price further with the crossover of 50% Fibonacci retracement level at 103.70 then pullback reversible rebound will take over the previous week hike around 105.40. Traders need to focus on fundamentals news events and new breakout obstacles, then take additional risks to grab the pips from the market.

Closed trades:

As you can see, I had a few sell trades floating on the gold and expected downslope might close the weekly candle below the 1800 zone. Still, unfortunately, the moving price breakout the reversible resistance consolidation level above 1812 and opened the door for buyers to give additional strength around 1830. I decided to manage the previous week's positions with some pips profit and wait for the current week's price confirmation levels in a massive swing over a range of 1770-1850, then take additional risk to grab the pips from the metal market. The current legislation stability will give a bearish indication when crossover the lower descending channel of 1798; other losses may open the door for sellers to keep holding the bearish base at 1780. In addition, if buyers' pressure gives reversible correction and rejected downside base, then the first resistance broken above the 50-day SMA line at 1845 follows through the immediate resistance convergence zone at 1890.



Important news:

Today, the "Monetary Policy Report" high-impact news event for the GBP currency will significantly impact the market. We must focus on the price action moves and then execute trades on the related currency pairs.



USDCAD:

The price of USDCAD rises significantly and breaches the new resistance divergence hurdle above the 100-day SMA line at 1.3080, and then reversible correction may decline the price sharply in the overnight session and weekly closing candle at 1.2900. In this scenario, the dominant buyers will still have muscular strength and conditioning and maybe printing the 50% Fibonacci retracement level at 1.3100 on the chart. I decided to open buy trades with the current market long-term trend and expected range for these positions above the Bollinger band middle base of 1.3030; when surpassed this resistance barrier, then opened the door for additional gains around 1.3150. Technically, the MACD is trading above the middle lines. At the same time, the oscillator clouds are pointed towards the bullish region around 1.3200 and forming an upside bullish harmonic candlestick pattern that will attract buyers to reach the higher monthly peak divergence level at 1.3340. On the downside, if sellers decline the price below the 200-day SMA line and recover the immediate support divergence around 1.2830, bulls may no longer, and additional losses may challenge the 20 and 40-day SMA line of 1.2690.



Current Position:

Currently, I had buy trades floating with 0.30 lot size each and wait for the US session breakout obstacles to manage these trades above the 1.3000 resistance zone. Moreover, if dominant sellers reject the upside base and decline the price sharply below the 200-day SMA line at 1.2850, then wait for the next divergence consolidation level of 1.2700 to take upside risk with an expected breakout range 1.3100.

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. The moving price of the dollar index declined from the upper-middle band of the 100-day SMA line at 104.98 and breaking the lower descending appearance in the near term further around 104.30, which will indicate that sellers' pressure rebound the price and prediction may give a downside signal to break out the 50% Fibonacci retracement level at 103.70. In the earlier session, the high impact news data will decline the price, and other breakout confirmation levels will give additional growth to reach the 20 and 40-day SMA line at 103.20. In addition, if buyers' strength and Bollinger bands middle base reject the downside base and sharply raise the price above the 100-day SMA line, then the expected divergence may breakout 105.30. Traders need to focus on new support or resistance breakout barriers, then take additional risks and grab the pips from the market.

Closed trades:

Yesterday, I had buy trades floating on the USDCAD pair and expected that pullback reversible correction may possible to breach the 100-day SMA line at 1.3050, and we can see the massive drop will reject the upside band to decline the price sharply below the 50-day SMA line at 1.2900. I decided to manage these trades at the current stability zone with loss and wait for the next confirmation breakout to take additional risk to the upside trend around 1.3190. On the other hand, if sellers' pressure resumes the downside trend and another crossover of 38.8% Fibonacci retracement level will testify to immediate support hurdle at 1.2830 then follow through the weekly and daily pivot point around 1.2700.



Important news:

Today, the "Core Retail Sales m/m" high-impact news event for the USD currency will significantly impact the market. We must focus on the price action moves and then execute trades on the related currency pairs.



EURJPY:

The price of EURJPY declined significantly from the last couple of sessions, and closing candles on the daily chart will resume the downside trend around 132.50, which will indicate that further selling pressure may challenge the 200-day SMA line at 130.90. I decided to open sell trades according to the current bearish trend and keep holding these trades below the 38.8% Fibonacci retracement level at 132.70; surpassing this barrier opens the door for sellers to reach the lower descending convergence zone at 131.30. Technically, the MACD traded below the middle trendline and pointed towards the bearish base. At the same time, the RSI indicator and oscillator clouds will remain to have positive strength in massive swing over a range of 135.90. In addition, if the bullish trend resumes and takes out the 50 and 100-day SMA line, crossing the bridge of 61.3% Fibonacci retracement level at 139.40.



Current Position:

Currently, I had to sell trades floating with 0.30 lot size each and wait for the US session to breakout the new support or resistance divergence consolidation level to manage these trades with profit. The bearish correction possible for the current week and additional losses may open the door for sellers to reach 131.80, then follow through the immediate weekly support hurdle at 131.20.

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. The dollars index strength will reject the bullish base of the 100-day SMA line at 105.00 and decline sharply below the middle trendline of the neutral threshold around 103.30, which will indicate that further losses may challenge the 50% Fibonacci retracement level at 102.60, then follow through the immediate support divergence level at 101.80. In addition, if buyers' dominant range will resume upside base and cross the bridge of 25 and 50-day SMA line at 105.20, then bears may no longer, and additional growth confirmation may directly challenge the bulls around 105.80. Traders need to wait for the next session breakout and take additional risk on the major pairs and assets to grab the pips from the market.

Closed trades:

Yesterday, I had sell trades floating on the EURJPY pair, and the moving price will reject the downside band and significantly rises above the 100-day SMA line at 136.50, which will indicate that the bullish trend resume for the current week and bears may no longer in the moving price action of the market. I decided to manage these trades with loss because the trend will completely change at the current stability zone, and additional growth first breakout the 100-day SMA line at 137.67, then follow through the weekly pivot point hurdle at 139.50. On the other hand, if sellers' pressure decline, the price below the Bollinger band middle trendline around 133.30 then follow through the 20 and 40-day SMA line at 130.45.



Important news:

Today, the "CPI m/m" high-impact news event for the CAD currency will significantly impact the market. We must focus on the price action moves and then execute trades on the related currency pairs.



CRUDE OIL:

The price of crude oil rises significantly and breaches the upper-middle descending channel at 115.50, which will indicate that buyers' pressure resume for long-term and conditioning may be printing the 120.00 on the weekly chart. I decided to open buy trades at the current legislation stability zone and wait for the expected resistance breakout near 117.50, surpassing this barrier, then open the door for additional growth in a massive swing over a range of 121.33. Technically, the MACD is trading above the middle trendline. The RSI indicator will provide bullishness strength above 70; thus, the confirmation signal may continue the revelation of buyers above the oscillators clouds around 115.90. The moving price action and major instruments will strongly point towards the bullish base, and overnight session breakout obstacles will reach 117.00, then follow through the immediate resistance consolidation level at 119.90.



Current Position:

Currently, I had buy trades floating with 0.01 lot size each and waited for the next session breakout above the 116.30, then managed these trades with good profit and took additional upside risk with an expected range of 120.44. In addition, if sellers reject the upside base and decline the price sharply below the 50-day SMA line at 105.23, then bulls may no longer, and sellers' divergence may challenge the 38.8% Fibonacci retracement level at 98.60.

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. The price of dollar index strength remains controlling the bullish base and breaches the new resistance divergence consolidation level around 103.70, which will give a strong indication that the bullish trend resume and downside correction completed the lower channel of 103.20. In this scenario, the crossover of the 100-day SMA line will allow buyers to reach the previous week's greatest hurdle around 104.80 and then keep holding the upside base to reach 61.3% Fibonacci retracement level 105.30. Traders need to wait for the next session breakout, surpass the barrier of new support or resistance, and then take additional risk in swing over the 103.00-105.50.

Closed trades:

Yesterday, I had buy trades floating on the crude oil and expected that reversible upside correction might continue to raise the price above the descending trendline of the neutral base at 115.9. Still, the moving price action will decline the price and reject the upside band to reach 113.30. I decided to manage these trades with some pips loss because further decline may directly challenge the immediate support divergence level of 110.80. Currently, the moving price still has bullish strength; if correction can testify to the 100-day SMA line at 116.60, then bears may no longer, and upside divergence may cover the overbought region of 120.40 at the end of the current week.



Important news:

Today, the "Unemployment Rate" high-impact news event for the AUD currency will significantly impact the market. We must focus on the price action moves and then execute trades on the related currency pairs.



AUDUSD:

The price of AUDUSD declined significantly from the last couple of sessions and breached the lower descending appearance of 200-day simple moving averages at 0.6980, which will cause strong divergence, and oversold conditioning may challenge the 50% Fibonacci retracement level at 0.6960. I decided to open buy trades and wait for the upside correction when surpassing the barrier of 0.7070, then keep holding these positions above the descending Bollinger band middle base at 0.7145. Technically, the RSI indicator shows negative strength and trading at 30, while the MACD is jumping below the red trigger trendline to show an oversold conditioning region; thus, the overlapping divergence of the 200-day SMA line will open the door for buyers to reach the 0.7100 on the chart. The main convergence in the moving price action and the reaction of short-term oscillators will provide additional strength, and a rebound will be possible in the medium-term outlook at 0.6930.



Current Position:

Currently, I had buy trades floating with 0.30 lot size each, and when passing through the first immediate resistance level above 0.7060, then manage these trades above the 0.7120 zone. In addition, if sellers' pressure rebounds, the price and prediction may be valid for the long-term below the 20 and 40-day SMA line at 0.6940, then bulls may no longer reach the rally of 0.6880 at the end of the current week.

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. The price of dollar index strength will maintain the bearish base and remain trading below the 50% Fibonacci retracement level at 103.00, which will be a strong deviating of sellers and recessive divergence below the 100-day SMA line at 102.60. In addition, if high-impact news data will give bullish strength and upside correction may cover the Bollinger band's middle trendline base around 104.45, then additional growth may follow through the immediate resistance consolidation level at 105.20. Traders need to get a fundamentals confirmation signal and then try to grab the pips from the major currency pairs and assets for next next

Closed trades:

Yesterday, I had buy trades floating on the AUDUSD pair, and sudden changes in the overnight session will drop the price of the dollar index and again trading below the 100-day SMA line at 103.00, which will significantly rises the price of AUDUSD and breaches the upper-middle base of 0.7030. In this situation, I decided to manage these trades with some pips profit and wait for the next session breakout above 0.7100; then upside confirmation signal may directly challenge the bulls and open the door for additional growth around 0.7280. On the downside, if sellers' pressure is dominant for the long-term and conditioning may reject the upside base, then the expected rally will touch the lower descending channel at 0.6900 and follow through the weekly and daily pivot point around 0.6845.


Important news:

Today, the "Retail Sales m/m" medium-impact news event for the GBP currency will significantly impact the market. We must focus on the price action moves and then execute trades on the related currency pairs.


GBPUSD:

The price of GBPUSD rises significantly with the recent rebound in the dollars index strength that will again testify to the weekly pivot top hurdle at 1.2500, which will be a strong indication that a bullish rebound will only target the resistance divergence consolidation level at 1.2560. In this case, I decided to open sell trades with the long-term reversible trend direction and wait for oscillators clouds, Bollinger bands middle lines to break out at 1.2420, then keep holding these positions below the 200-day SMA line at 1.2355. Technically, the RSI and MACD covered the bearish band and strongly pointed towards the downside consolidation around 1.2290. Moreover, suppose buyers' dominant range will clear the signal for the next resistance breakout barrier of 1.2630. In that case, bears may no longer, and resuscitation may provide additional growth in a massive swing over a range of 1.2849.



Current Position:

Currently, I had sell trades floating with 0.30 lot size each and moving price action will continue to strengthen above the middle trendline of the neutral base at 1.2500. If the price manages to breakout the reversible correction and declines the price below the 20 and 40-day SMA line at 1.2440, keep holding the trades at 1.2380. In the case of bearish rejection, wait for next week's correction and take additional risk in a specific monitoring range of 1.2300-1.2780.

Hello everyone.

Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. The week is over, and we can see the sudden changes in the dollar index strength will give additional moves in major pairs and assets to break out the new support or resistance divergence level throughout the week. As we can see, the last support is broken at 102.70, indicating that sellers resume the downside base in the next few sessions and expected support consolidation hurdle at 101.80. In addition, if buyers' strength and high impact news data will rebound, the price and upside correction indication will provide bullishness around 103.90, then bears may no longer for next week then follow through the weekly and daily pivot point around 105.99.

Closed trades:

Yesterday, I had sell trades floating on the GBPUSD pair, and the expected range would decline the price sharply below the 1.2440 region, which will attract sellers to rebound from the previous lower descending channel of 1.2370. In this scenario, the upside convergence will make a correction at 1.2496 and currently trading in the near term future at 1.2470; I decided to manage these trades with some pips profit and wait for next week's confirmation breakout obstacles, then take risk in massive swing over a range of 1.2300-1.2700. The short-term oscillator clouds covered the neutral zone and pointed towards the bearish strength around 1.2280 when they surpassed this lower barrier, then opened the door for sellers to recover 1.2070.


EURUSD:

The price of EURUSD rises significantly all over the week, and the top resistance breakout above the 1.0600 level will be the dominant range for sellers to take downside trades and set the existing target below 1.0400. I decided to open sell trades at the current stability zone, wait for next week's US index movement, and then manage these trades below 1.0450 with 100 pips profit. In the case of bearish rejection and upside, consolidation may directly challenge the 50% Fibonacci retracement level at 1.0780, then bears may no longer, and buyers open the door for additional growth around 1.0850. Technically the RSI and Bollinger bands trendline shows bearish strength; any new resistance breakout barriers will change the signal, and confirmation may have stability above 1.0800.



Current Position:

Currently, I had sell trades floating with 0.30 lot size each and when moving price passing through the middle trendline at 1.0470 then keep holding these positions below 1.0400. On the other hand, if buyers' dominant range will continue adding strength and conditioning, they may be printing the 1.0660 bases and then wait for the 1.0820 breakouts to take upside risk and grab the pips from the market.