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Thread: bappy4x's - Trading journal

  1. #11131 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    A short-term sell-trade opportunity on the GBP/USD:

    Hello, everyone!
    Greetings to traders. I hope you are all having a good trading session. However, according to the last couple of days of volatility in the Forex market, we have not seen any massive volatility in the USD market today. However, the US Dollar Index price declined after the bearish breakout at the beginning of the last European session. From the beginning of the US session, the price of the US Dollar Index has been hovering towards the bullish region.


    Closed Trades Update:

    Today, I have found some short-term sell-trade opportunities in crude oil, gold, and silver. Meanwhile, today, the US Dollar Index has been strengthening towards the bullish region at the beginning of the Australian session.

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    However, I have managed to make a handsome amount of profits on crude oil and gold, but I could not manage a single dollar profit from the white metal silver. Whatever, the XXX/USD trading instruments are moving towards the bearish region, and I am still looking forward to a potential selling opportunity on the XXX/USD trading instruments as the US Dollar Index has been strengthening.

    The Forex Economic Calendar:

    There were some significant events for the major currencies in the forex economic calendar, but there was less high-impact news for the USD currency. US Core Retail Sales and US Retail Sales have fallen dramatically, but these events have had little impact on USD trading.

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    Will the US Dollar Index continue the bearish breakdown if it breaks below the 94.50 mark?

    An overview of the US Dollar Index:

    Although the massive bearish breakdown began at the end of the previous week, the price of the US Dollar Index has been moving to the bearish region since the beginning of the week. This week, there were some important events for the USD currency, and the maximum data for the USD currency came in negative. The downbeat data of the USD currency pushed the price of the US Dollar Index towards the bearish region and pushed the price of the US Dollar Index towards the 3-month lower price of 94.60. Finally, the price of the US Dollar Index was rejected from the initial support line of 94.60, and as of writing, the price of the US Dollar Index is trading around 95.19.

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    From the technical perspective, the price of the US Dollar Index is entirely in the bullish trend on the hourly chart, and the MACD technical indicator has formed three consecutive bullish divergences on the hourly chart, which indicates a further bullish breakout from the US Dollar Index. Currently, the US Dollar Index price is moving above the psychological mark of 95.00, and the momentum of the price is entirely in the bullish mode. Also, the 100-Day Simple Moving Average indicates the price of the US Dollar Index above the 95.50 mark. But on the other hand, the 50-Day Simple Moving Average indicates the price of the US Dollar Index below the 94.80 mark. Overall, I am looking forward to a potential buying opportunity on the US Dollar Index, and the price of the US Dollar Index should be trading above the 95.50 price mark soon.


    How did the GBP/USD price reject the initial resistance line of 1.3747?


    A short-term sell-trade opportunity on the GBP/USD:

    The price of the GBP/USD currency pair has been hovering towards the bearish region since the beginning of the European session today. Previously, the GBP/USD currency pair was fully bullish from the start of the week, but the price of the GBP/USD was rejected from the initial resistance line of 1.3747. As of writing, the price of the GBP/USD is trading around the 1.3660 price mark.


    Active Trades:

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    Is the 1.3660/1.3650 the best buy-entry point?


    The Entry Point:

    The strengthening of the US Dollar Index pushed the price of the GBP/USD currency pair towards the bearish region, as we have seen some solo directional bearish breakdowns during the US session today. However, massive changes have been seen during the US session today as the US Dollar Index has changed its trading momentum towards the bullish region. On the 4-hour chart, the price of the GBP/USD currency pair has formed a strong resistance line at 1.3747, and the price of the GBP/USD currency pair was rejected from the initial resistance line.



    With some technical indicators, the price of the GBP/USD is entirely in the bullish trend on the 4-hour chart, and the 100-Day and 50-Day Simple Moving Average indicate the price of the US Dollar Index is below the 1.3500 mark. On the other hand, the MACD technical indicator formed some strong bullish divergences in the 4-hour chart because of the massive weakening of the US Dollar Index. As a result, the sell-entry should begin at the 1.3660 price level, and the long-term sell-trade opportunity will continue if the GBP/USD price falls below the psychological level of 1.3600.

    Is the US Dollar Index drop a sign that the buy-trade opportunity on the GBP/USD has ended?

    The Exit Point:

    With some fundamental factors, there were some events for the GBP currency, although today there were fewer lower-impact events for the GBP currency, which did not have any massive impact on the GBP trading. However, the price entirely changed the momentum of the GBP/USD pair because of the sudden strengthening and pullback movement of the US Dollar Index. There is a strong support level on the daily chart at the 1.3620 price mark, and the stimulation of the US Dollar Index can break the support line of 1.3620.



    Technically, the GBP/USD price is entirely in the bearish trend on the daily chart. Still, the MACD technical indicator did not form any bearish divergences yet, which could confirm a further bearish breakdown from the US Dollar Index. On the other hand, the 100-Day and 50-Day Simple Moving Averages indicate the GBP/USD currency pair price around the 1.3450 price mark. From this indicator, we can confirm the sell-trade opportunity on the GBP/USD pair. On the GBP/USD pair, there is a short-term selling opportunity. A sudden weakening of the US Dollar Index will change the momentum of the GBP/USD currency pair above the 1.3700 price mark, and the short-term buy-trade opportunity will exit there. Overall, I am looking forward to a potential selling opportunity on the GBP/USD currency pair, and the price of the GBP/USD should be trading below the 1.3600 price mark soon.

    Open Trades Update:

    I have found a solid sell-trade opportunity on the GBP/USD and EUR/USD currency pairs and have executed some sell orders. Currently, trades are floating with a significant loss, but I expect a good amount of profits within the next trading session.

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    Thats all for today. Thanks for staying with me.

    Approved

  2. #11132 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Will the price of the precious metal gold break the major resistance line of the $1831 mark?

    Hello, everyone!

    Greetings to traders, and welcome to "bappy4xs trading journal." Last week, we saw massive volatility in the USD market, and the US Dollar Index reached its 3-month lower price at 94.60. There were a lot of events for the USD currency that pushed the price of the US Dollar Index towards the bearish region, although at the end of the last US session, the price of the US Dollar Index was moving towards the bullish territory.

    Closed Trades Update:

    After getting the week-53 bonus, I executed some trades on the precious metal gold and managed to manage a handsome profit. After that, I executed some orders on the EUR/USD pair to complete the InstaFutures lot according to the forum rules.

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    However, I should make a withdrawal request after making a profit on the precious metal gold, but I am undone! I executed some orders for crude oil. Although crude oil orders were floating around the $93 mark, I did not close orders to get to the mark of $100. After a day, I got the stop-out, losing all of my bonus capital. This is a new lesson for me.


    Does the US Dollar Index change its momentum towards the bullish region?


    An overview of the US Dollar Index:


    The price of the US Dollar Index has been hovering towards the bullish region since the end of last weeks trading session, although we saw huge bearish volatility throughout the whole week. There was some significant news for the USD currency the previous week, which pushed the price of the US Dollar Index to a 3-month low price. So, the US Dollar Index price made a strong support level at the 94.60 price mark, and the price was rejected from the initial support line. However, at the end of last weeks trading session, the price of the US Dollar Index was trading around the 95.14 price mark.

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    From the technical perspective, the price of the US Dollar Index was entirely in a bullish trend at the end of last weeks trading session on the hourly chart. The MACD technical indicator formed six consecutive bullish divergences in the hourly chart, which indicated confirmation of the bullish breakout next week. Also, the 100-Day Simple Moving Average suggests the price of the US Dollar Index is above the 95.50 price mark. On the other hand, the 50-Day Simple Moving Average indicates the price of the US Dollar Index below the 94.90 mark. Overall, I am looking forward to a potential buying opportunity on the US Dollar Index, and the price of the US Dollar Index should be trading above the 95.50 price mark soon.


    A gold sell-trade opportunity in the short term:

    The price of the precious metal, gold, has been hovering in the bullish region since the beginning of the week. Last Monday, the price of gold was more stable around the $1791 price mark, but a break above the psychological mark of $1800 pulled the price of gold towards the bullish region. At the time of the markets closing, the price of gold was trading around the $1,817 price mark.


    Will the price of the precious metal gold break the major resistance line of the $1831 mark?

    The Entry Point:

    On the hourly chart, the price of the precious metal gold was rejected from the initial resistance line of the $1828 price mark. The MACD technical indicator has formed some solid bearish divergences in the hourly chart, which indicates a further bearish breakdown of the precious metal gold. The sell entry should be started at the $1820 mark, and there will be a continuation of the long-term sell-trade opportunity if the price of gold falls below the psychological mark of $1800.

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    The Exit Point:

    With some technical indicators, the price of gold is entirely in a bearish trend in the daily chart, and the 100-Day and 50-Day Simple Moving Average indicate the price of gold is below the $1795 price mark. On the other hand, the MACD technical indicator did not form any bearish divergences yet. But a further weakening of the US Dollar Index should pull the price of gold above the $1831 price mark, and a break above the major resistance line of $1831 should change the momentum of gold, and the sell-trade opportunity will exit there.

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    Open Trade Update:

    I found a short-term sell-trade opportunity on the EUR/USD and GBP/USD currency pairs yesterday, and I executed some sell orders. Trades went for a good amount of profit, but I did not close them. And currently, all trades are floating with a significant loss, but I expect a good amount of profits within the next working day.

    Name: opentrades15012022.PNG Views: 50 Size: 16.2 KB


    If you have any questions, ask me through the comment box. Thanks for staying with me.

    Approved

  3. #11133 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Will the price of crude oil break the major resistance line of $85.40?

    Hello, everyone!
    Greetings to traders, and I hope that you are all fine today. It is just at the end of the weekend, and within a few hours, the Forex market will be open again. At the end of last week's session, there were fewer significant events for the USD currency, and we may see an impact after opening the market today. There will be a bearish market gap on the US Dollar Index due to negative USD events data.


    After opening the market tonight, will we see a market gap on the US Dollar Index?

    The price of the US Dollar Index was moving towards the bearish region last week and reached a multi-week low price of 94.60. After making the 3-month lower price, the price of the US Dollar Index pulled back to the bullish region and established a strong trading region above the 95.00 mark. However, the momentum changed at the end of last week's trading session, and we expect a market gap after opening the market tonight. At the end of the market's closing, the price of the US Dollar Index was trading around the 95.14 price mark.

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    Technically, the US Dollar Index price changed its trading momentum towards the bullish region in the 4-hour time frame. Still, the MACD technical indicator did not form any bullish divergences on the daily chart. But on the other hand, the 100-Day and 50-Day Simple Moving averages indicate the price of the US Dollar Index around the 96.00 price mark. Earlier, the US Dollar Index price formed a "Three White Soldier" candlestick pattern on the daily chart, which confirmed the continuation of the bullish breakout from the US Dollar Index.

    According to the above discussion, there is less chance of seeing a market gap after opening the market tonight. There were no significant events for the USD currency at the last moment of last week's session. However, I am looking forward to a potential buying opportunity on the US Dollar Index, and the price of the US Dollar Index should be trading above the 96.00 price mark soon.


    Will the price of crude oil break the major resistance line of $85.40?


    A short-term buy-trade opportunity in crude oil:

    The price of West Texas Intermediate Crude Oil has been hovering in the bullish region since the beginning of last week's trading session. However, the price of crude oil was moving towards the bearish region and reached the weekly lower price at the $77.33 mark on the first day of the last week. However, after breaking the psychological mark of $80, the price of crude oil looked much more dangerously inclined towards the bullish region. At the end of the market's closing, the price of crude oil was trading around the $84.26 mark.


    The Entry Point:

    In the 4-hour time frame, the price of crude oil was entirely in the bullish trend, and there was some consecutive bullish trend in the 4-hour chart, which indicates a further bullish breakout in the price of crude oil. However, the MACD technical indicator formed some strong bullish divergences in the 4-hour chart, but the 100-Day and 50-Day SMA indicated the price of crude oil was below the major support region. So, the buy-in should start from the first hour of the market's opening. Traders can start the buy entry from the point of $84.30, and there will be a continuation of the long-term buy trade opportunity if the price of crude oil reaches the $84.60 mark.

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    The Exit Point:

    With some technical indicators, the price of crude oil was entirely in the bullish trend on the daily chart, and there were some strong bullish divergences on the daily chart. On the other hand, the 100-Day and 50-Day Simple Moving Averages indicate the price of crude oil below the $80 price region. If the price of crude oil changes its trading momentum towards the bearish region and reaches below the psychological mark of $80, the buy-trade opportunity will exit there. Overall, I am looking forward to a potential buying opportunity in crude oil, and the price of crude oil should be trading above the $85.00 mark soon.

    Name: #CLDaily.png Views: 12 Size: 44.4 KB

    Open Trade Update:

    I mentioned earlier that I found a strong sell-trade opportunity in the GBP/USD and EUR/USD currency pairs. And initially executed some sell orders on the GBP/USD and EUR/USD currency pairs, although currently, trades are floating with a significant loss as the market is closed. I anticipate a sizable profit the following working day.

    Name: opentrades16012022.PNG Views: 13 Size: 15.0 KB

    Thanks for staying with me.

    Approved

  4. 6 users say Thank You to bappy4x for this useful post.

    Adam522 (Today), amiron56 (Today), Felix4x (Today), global20 (Today), Goktug Alp (Today), Sophia1 (Today)

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