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Thread: Elsayed's - Trading journal

  1. #141 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone,
    How are you doing today?

    Update of my running trade on Cardano (ADA):
    At the moment, my buy position on the ADA is running with floating losses of $7.25 as shown in the picture below. Last week, I mentioned that the support level of 1.3020 could have sent the price up to the resistance level of 1.4650. Unfortunately, the ADA managed to break below the support level of 1.3020, taking the price down to the 1.2000 level. At the moment, the ADA is trading near the support level of 1.2000. I think that the level of 1.2000 can be seen as a good starting point to open a long position. So, I decided to place a long ADA position from the current price level at 1.2408, as stochastic oscillator is showing oversold condition and potential for the further upside movement. In addition, the 6-day linear weighted moving average is about to break above the 12-day exponential moving average, giving a buy signal. A stop loss order can be placed below the support level of 1.2000, while a take-profit order can be placed at the level of 1.3800, as I expect the quote will go up to the level of 1.3800 if the support level of 1.2000 doesn't break.

    Name: ada1.JPG Views: 219 Size: 199.3 KB
    • Buy Cardano (ADA):
      - Entry point: 1.2000-1.2408.
      - Take profit: 1.3800.
      - Stop loss: 1.1800.

    Forex economic calendar:
    Today, There will be two important meetings for the BOE MPC members at 5.00 P.m and 7.00 P.m as shown in the picture below. It is very important to Forex traders to take a look on summary of such important meetings, as the BOE MPC members vote on where to set the nation's key interest rates and their statements are usually used to determine the important things regarding future monetary policy. So, their meetings usually affects on value of the British pound against other currencies.

    Name: economic calendar2.JPG Views: 193 Size: 19.9 KB

    Wishing you a very happy weekend!

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  3. #142 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone,
    Good day.

    The evaluation of last week's trading:
    Last week, I managed to achieve net profit of $73 from my trading on GBP/USD and USD/CHF pair as shown in the picture below. Where I expected the USD/CHF to decline from the level of 0.9200 to the level of 0.9170, this is what exactly happened. This is why, all my short USD/CHF positions were closed at net profit of almost $35. On the other hand, I expected the GBP/USD to decline from the resistance level of 1.3600 to the level of 1.3560, then I closed all my short GBP/USD positions manually at profit of almost $38 once the resistance level of 1.3600 sent the pair down near the level of 1.3560.

    Name: Net profits.JPG Views: 194 Size: 62.8 KB


    My trading plan for next week:
    Last week, the USD/CHF pair managed to break above the downtrend line. As a result, the price went up from the support level of 0.9170 to the resistance level of 0.9230, then the pair bounced back from the level of 0.9230 to the level of 0.9180 as shown in the picture below.

    I am planning to open a long USD/CHF position when the price reaches the downtrend line again for its retest. So, once the Forex market opens by Monday, I will open a long USD/CHF position near the level of 0.9170. A stop loss order can be placed below the support level of 0.9170 at the 0.9150 level, while a take profit order can be placed at the resistance level of 0.9220.
    • Buy USD/CHF:
      - Entry point: 0.9170-0.9180.
      - Take profit: 0.9220.
      - Stop loss: 0.9130-0.9150.

    Name: USDCHF.JPG Views: 200 Size: 156.8 KB

    Also, I have a plan to place an additional short GBP/USD position with $1 lot size at the level of 1.3600, as stochastic oscillator is showing overbought condition and potential for the further downside correction as shown in the picture below. In addition, the downtrend line and the resistance level of 1.3600 are strong enough to send the pair down to the level of 1.3430. A take profit order can be placed at the level of 1.3500, while a stop loss order can be placed at the level of 1.640.
    • Sell GBP/USD:
      - Entry point: 1.3600.
      - Take profit: 1.3500.
      - Stop loss: 1.3640.

    Name: GBPUSD2.JPG Views: 202 Size: 165.8 KB

    Wish you all the best of luck!

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  5. #143 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greeting and good morning everyone,
    Hope you all are doing well.

    USD/CHF:
    Yesterday, I noted that I would open a long USD/CHF position when the pair bounce back to the downtrend line for its retest. Few hours ago, the pair managed to break above the 0.9200 level, converting it from a resistance level to a support level. So, I decided to open a long USD/CHF position from the current price level at 0.9195, as the support level of 0.9200 should send the price up to the resistance level of 0.9230. So, A take profit order can be placed below the resistance level of 0.9230 at 0.9225, while a stop loss order can be placed below the support level of 0.9200 at 0.9180. If the support level of 0.9200 doesn't break, the pair will resume its bullish movement, and rise to the level of 0.9270 shortly. Where, we can see signs of upside correction to the USD/CHF pair after the last week's breakout to the downtrend. At the moment, my short USD/CHF position is running with floating profits of $6.52 as shown in the picture below. Let's hope the support level of 0.9200 will not allow the pair to break below it, and manages to send the pair up to the level of 0.9225 shortly.
    • Buy USD/CHF:
      - Entry point: 0.9200.
      - Take profit: 0.9225-0.9230.
      - Stop loss: 0.9180.

    Name: USDCHF.JPG Views: 181 Size: 179.1 KB

    As for the GBP/USD:
    I placed a short GBP/USD position today at the level 1.3595, as I believe the resistance level of 1.3600 and the downtrend line are strong enough to send the pair down to the level of 1.3430. At the moment, my short GBP/USD position is running with floating profits of $2.00. A take profit order can be placed at the level of 1.3430, but I decided to place it at the level of 1.3520, while a stop loss order can be placed above the resistance level of 1.3600 at 1.3620-1.3630 level. If the GBP/USD pair manages to break above the resistance level of 1.3600, the downtrend will be canceled, but I believe the resistance level of 1.3600 will not allow the price to break above it today, as stochastic oscillator is showing overbought condition and potential for the further downside correction as shown in the picture below.
    • Sell GBP/USD:
      - Entry point: 1.3595-1.3600.
      - Take profit1: 1.3520.
      - Take profit2: 1.3430.
      - Stop loss: 1.3630.

    Name: GBPUSD.JPG Views: 177 Size: 187.1 KB

    Wishing you all a successful trading week!

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  7. #144 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone,
    Good day.

    Update of my running trades on USD/CHF and GBP/USD:
    As I expected, the support level of 0.9200 sent the price up to the level of 0.9225. As a result, my short USD/CHF position has been closed with profit of $32.52 as shown in the picture below. At the moment, the USD/CHF pair is trying to break above the resistance level of 0.9230. If the pair manages to break above the 0.9230 level, it may resume its bullish movement to the resistance level of 0.9270. So, the best is to wait until the USD/CHF manages to break and consolidate above the level of 0.9230 to open a long position. So, let's wait and see what will happen in the next hours. Congratulations to all member who achieved good profits from this trade.

    The USD/CHF position has been closed with profit of 32.52.
    Name: USDCHF2.JPG Views: 153 Size: 118.3 KB


    As for the GBP/USD:
    The GBP/USD pair failed to break above the resistance level of 1.3600 and the downtrend line as expected. At the moment, my short GBP/USD position is running with floating profit of $29. I don't consider closing it, as I believe the downtrend line and the resistance level of 1.3600 are strong enough to send the pair down to the level of 1.3430. So, I placed take-profit order at the level of 1.3520. Let's hope the GBP/USD pair will resume its bearish movement to the level of 1.3520 shortly. The breaking above the resistance level of 1.3600 will cancel the downward movement. So, the best is to place a stop-loss order above the level of 1.3600.

    Name: GBPUSD2.JPG Views: 157 Size: 188.2 KB

    EUR/USD:
    The EUR/USD pair has been trading sideways between the level of 1.1360 and the level of 1.1235 since a long. I am waiting for the price to go up to the level of 1.1360 to open a short position or to go down to the level of 1.1235 to open a long position. So, we can place a pending sell order at the level of 1.1360 and a pending buy order at the level of 1.1235, to be opened automatically when the pair hit one of those two levels.

    Name: EURUSD.JPG Views: 146 Size: 108.6 KB

    Wishing you all a successful trading week!

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  8. #145 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone,
    Good day.

    Update of my running trade on GBP/USD:
    Yesterday, I opened a short GBP/USD position from the level of 1.3595 with $1 lot size and placed a take-profit order at the level of 1.3520. The pair didn't reach the target and the take-profit I set at 1.3520, as the quote tested the level of 1.3531, having missed some 11 pips to reach my target at 1.3520, then the price bounced back again to the resistance level of 1.3600. At the moment, the GBP/USD position is running with floating losses of $20 and the pair is trying to break above the resistance level of 1.3600. I believe the resistance level of 1.3600 and the downtrend line are strong enough t send the pair down to my take-profit target at 1.3520. So, I don't consider closing that short position at the moment, but I will wait for the quote to bounce back again from the resistance level of 1.3600, as stochastic oscillator is showing overbought condition and potential for the further downside movement as shown in the picture below. If the pair managed to break above the resistance level of 1.3600, the downtrend will be canceled. In that case, I will close my short GBP/USD position at the least possible losses.
    • Sell GBP/USD:
      - Entry point: 1.3595-1.3620.
      - Take profit: 1.3520.
      - Stop loss: 1.3635.
    Name: GBPUSD3.JPG Views: 136 Size: 195.2 KB

    USD/CAD:
    At the moment, the USD/CAD pair is trading near the support level of 1.2620. I expect the support level of 1.2620 will send the pair up to the level of 1.2690. So, I placed a long USD/CAD position with $1 lot size at the level of 1.2635. A take-profit order can be placed at the level of 1.2665, while a stop-loss order can be placed below the support level of 1.2620 at 1.2605. Let's hope the support level of 1.2620 will not allow the pair to break below it, as the breaking below the level of 1.2620 may take the price down to the level of 1.2500. So, it is very important to place a stop loss order below the support level of 1.2620.
    • Buy USD/CAD:
      - Entry point: 1.2620-1.2635.
      - Take profit: 1.2665.
      - Stop loss: 1.2605.
    Name: usdcad.JPG Views: 131 Size: 182.1 KB

    The Economic Calendar

    Name: news.JPG Views: 128 Size: 61.0 KB

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  9. #146 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone,
    Good day.

    The Economic Calendar:
    As you can see at the picture below, some important news on the US dollar will be released at 3:30 pm, 5:30 pm, 8:01 pm and 9:00 pm. So, we should be careful about the trading in the period of 3.30 pm-9.00 pm, as the market may be very volatile after releasing results of these news. On the other hand, the EUR industrial production manufacturing index has been released in a positive result. This is why, the EUR/USD pair managed to break above the resistance level of 1.1360 today and is trying to consolidate above it at the moment.

    Name: News2.JPG Views: 93 Size: 46.4 KB

    EUR/USD:
    I opened a long EUR/USD position right now with $1 lot size from the current price level at 1.1366. As, I believe the level of 1.1360 is likely to send the pair up to the level of 1.1386 and the pair may resume its bullish movement from that level if it manages to consolidate above it. The EUR industrial production manufacturing index has been released in a positive result contrary to what was expected. This is why, I believe the EUR/USD pair will move in a bullish trend in the next period, but most of the traders are waiting for results of the US dollar news that will be released at 3.30 pm in order to open long positions on the EUR/USD pair. At the moment, my long EUR/USD position is running with floating losses of $3. A take-profit order can be placed at the 1.1386 level, while a stop loss order can be placed below the support level of 1.1360.
    • Buy EUR/USD:
      - Entry point: 1.1366.
      - Take profit: 1.1386.
      - Stop loss: 1.1346.
    Name: EURUSD.JPG Views: 92 Size: 158.6 KB

    Update of my running trade on Cardano (ADA):
    At the moment, my long ADA position is running with floating profit of $5.93 as shown at the picture below. I expect it to resume its bullish trend, reaching the level of 1.3800 where I have placed my take-profit order. The 6-day linear weighted moving averages crossed above the 12-day moving average, giving a buy signal. In addition, stochastic oscillator and vortex indicator are showing potential for the further upside movement. So, I believe the current price level is a good starting point to open long ADA positions.
    • Sell ADA:
      - Entry point: 1.2408.
      - Take profit: 1.3800.
      - Stop loss: 1.1900.
    Name: ADA.JPG Views: 96 Size: 192.5 KB

    Rejected

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  11. #147 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greeting and good morning everyone,
    I hope you are doing well and making good profits from your trading.

    Update of my running trades on EUR/USD and Cardano (ADA):
    Yesterday, I opened a long EUR/USD position from the level of 1.1366 and placed a take-profit order at the level of 1.1386. As I expected, the support level of 1.1360 managed to send the pair up to the level of 1.1460. As a result, my long EUR/USD position has been closed at a profit of $20 (20 pips) as shown at the picture below. At the moment, the pair is trying to consolidate above the resistance level of 1.1460 after the yesterday's breakout of the 1.1460 level. If the pair manages to consolidate above the resistance level of 1.1460, it will convert it from a resistance level to a support level. So, we can open a long position from the current price level at 1.1460. A stop loss order can be placed below the level of 1.1460 at 1.1430, while a take profit order can be placed at the level of 1.1490. Let's hope the level of 1.1460 will not allow the price to break below it. As the breaking below that level may send the price down again to the level of 1.1360 for its retest. So, it is very important to place a stop loss order below the level of 1.1460.
    • Buy EUR/USD:
      - Entry point: 1.1460.
      - Take profit: 1.1490.
      - Stop loss: 1.1430.

    The long EUR/USD position was closed yesterday at a profit of $20 (20 pips)
    Name: EURUSD3.JPG Views: 67 Size: 151.2 KB

    As for the Cardano (ADA):
    At the moment, my long ADA position is running with floating profits of $26. I believe that closing it right now is a good idea, as stochastic oscillator is showing overbought condition and potential for the further downside movement. In addition, the cryptocurrency market is unstable these days. Please share your opinions about that position, as I don't know whether the best is to close it right now or to leave it until it reaches the take-profit target I have placed at 1.3800.

    Name: Cardano ada.JPG Views: 67 Size: 131.3 KB

    Congratulations to all members who benefited from my positions on EUR/USD and Cardano (ADA).

    Approved

  12. #148 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greeting and good evening everyone,
    I hope you are doing well and making good profits from your trading.

    Update of my running trade on Cardano (ADA):
    Yesterday, I closed my long ADA position with a profit of $19.13. Where, the quote managed to close above the resistance level of 1.3060, but it fell again and closed below the 1.3060 level as shown on the picture below. So, I decided to close my long ADA position at the 1.2790 level, as I expected the quote to resume its bearish movement to the support level of 1.1940 for its retest. At the moment, the ADA is trading sideways between the level of 1.3060 and 1.1940. In case the quote manages to break above the resistance level of 1.3060, I will place a long position. On the other hand, if the pair manages to break below the support level of 1.1940, I will place a short position. So, the best is to avoid opening new positions on the ADA at the moment, as the current situation is uncertain, but it may become clearer when the quote breaks above the level of 1.3060 or below the level of 1.1940.

    Name: ADA2.JPG Views: 40 Size: 179.5 KB

    Update of my running trade on EUR/USD:
    Yesterday, I placed a long EUR/USD position at the level of 1.1460, placed a take-profit order at the level of 1.1490 and a stop-loss order at the level of 1.1430. Unfortunately, the pair failed to consolidate above the level of 1.1460. As a result, the level of 1.1460 sent the pair down near the level of 1.1400, and my long EUR/USD position has been closed with a loss of $30 (30 pips). I expect the EUR/USD pair to resume its bearish movement to the support level of 1.1360, but I don't consider opening new positions at the moment, as today is Friday and the Forex market is about to close. So, the best is to take a rest from the trading until the market opens again by Monday.

    Name: eur.JPG Views: 23 Size: 97.2 KB

    Have a great weekend!

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

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