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Thread: fadila's - Trading journal

  1. #5501 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone.


    Once again, the US dollar gives a good performance during the first half of the day before declining in the second half, but today the situation may be different as we have important economic events that may cause a wide trading range and affect the market significantly. So, caution is required.

    Gold has finished the AB=CD pattern, which means that there is the possibility of a decline in prices, but since the price is trading above the support level of $1830.00, the idea of ​​selling looks a bit risky. Crude oil also recovered, as we will see later in this post, after finding support at the level of 83.20, which gave a positive price action on the daily chart that supports the uptrend, so we may have an opportunity to buy today.





    Today's economic events (GMT+1):








    Closed positions


    I was away from my computer yesterday, but I was checking crude oil on my phone, and I knew perfectly well that the price was on its way to stop the loss. Even though it was a good opportunity to buy, I could not do anything about it. Anyway, I think I did a good job with this trading opportunity, as I already closed half of it at a good profit. Therefore, I don't see a problem with the price hitting the stop loss for the second half, so I'm getting better at managing trades, and this is very good progress for me.





    Active trades




    • EUR/USD:
    There was a good decline in the EUR/USD pair, but my profits from this position decreased by the end of the day due to the decline in the US dollar index. I am not surprised by that. The most important thing to me is that the pair is still maintaining the same bearish momentum as the previous wave, and if I am right about this, then I can expect the day when it reaches the target level. So far, the situation looks fine with the price breaking the flag pattern, and just by looking at the overall price action of the EUR/USD, I can say that the US dollar will be strong today, but we can't be sure. There is always a margin for error, and this is why we resort to stop loss and money management.



    Last edited by fadilah; 26-01-2022 at 01:34 PM.
    Daily analysis of major and cross pairs, metals and oil

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  2. #5502 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone.


    Just as I expected yesterday, the US dollar became very strong, and we had a sharp bullish rally on the dollar index after the US economic data came in its favor. Crude oil also continued to the upside, giving a healthy candle on the D1 frame that supports the main trend, but we will have to be careful and stay away, for now, waiting for a breach of the resistance level of 88.16. For me, yesterday the star was gold. After completing the AB=CD pattern, prices collapsed with the support of the US dollar. Although I did not sell gold, I relied on this to confirm a selling opportunity on silver, as we will see later.




    Closed positions

    Based on yesterday's post, I opened two short-term buy positions on crude oil, which I later closed manually with a total profit of $180. I also opened two selling positions on silver, one of which reached the target while the other is still active.






    Active trades




    • EUR/USD:
    As I said yesterday, the EUR/USD pair will try to maintain the bearish momentum of the previous wave. On the attached chart, we see that after short stability in prices at the beginning of the day, the pair collapsed later in proportion to the expected bearish momentum for it. I think it is safe now to say that we can see the price testing the support level of 1.1190 by the end of Friday.



    • Silver:
    Silver prices collapsed yesterday after forming a corrective triangle pattern, as we can see on the attached chart. Although the price is now trading at the support level of 23.259, there is a possibility for the price to continue its decline towards the level of 22.88.


    Last edited by fadilah; 27-01-2022 at 07:34 AM.
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