FX.co ★ NTFX | NTFX's Trading journal

Hello everyone. Welcome to my trading journal update. I hope you are doing well and making good profits from the high violation of the market. The dollar index price gives sideways mixed-signal and rebounds in massive swing over the range of 104.70, which will be resuming upside base and further recovering the 105.50 will directly challenge the middle bottom at 106.70. In the earlier session, the high-impact news data for PMI service will give minor league and continue holding the price above 104.50. If the price manages to breakout the lower descending channel of 104.00, further downside correction may appear at 103.60 ahead of 103.00. Traders need to get a confirmation signal and take additional risks to grab the pips from the market. Bonus update:

Closed trades: Yesterday, I had buy trades floating on the GBPUSD pair and expected that upside convergence might continue to raise the price above 1.2300; when the Fed data released the index price breakout, the new resistance descending channel at 104.70. This behavior will decline the price short term and breaches the 1.2250 support zone. In this scenario, I decided to manage these trades with some pips loss because further decline and robust inflation data will directly challenge the immediate support hurdle at 1.2160. The current legislation stability will give a bullish indication, and oversold conditioning may print the 1.2550 on the chart.

Important news: Today, the "RBA Gov Lowe Speaks" high-impact news schedule for the AUD currency will significantly impact the market. We must focus on the price action moves and then execute additional trades on the related currency pairs.

AUDUSD BUY TRADES: The price of AUDUSD declined significantly from the last couple of sessions and broke the new support divergence barrier at 0.6870, indicating that oversold conditioning may give reversible correction above 0.7050. I decided to open buy trades at the current stability zone and wait for the US session breakout above 0.7000; when surpassing this resistance rally, I kept holding the price above the ascending channel of 0.7100. On the downside, if dominant sellers' pressure rebounds, the price, and prediction may continue to decline the price sharply below 0.6890, then bulls may no longer, and additional losses may challenge the 0.6830 physiological mark. Currently, the moving price will give some pips loss when giving extra strength, then set the existing target above 0.7020.

Current Positions: