FX.co ★ fadilah | fadila's - Trading journal

MARKET OVERVIEW: Yesterday the market was ranging on most of the assets as the US dollar moved in a range of 60 pips up and down giving a neutral price action. Crude oil prices also declined in the second half of the day after it was bullish at the beginning, maintaining the support level at 101.44 intact. While gold settled at the hourly support level of 1822.92, and since it is not that strong, this means that we may see a decline in gold prices today. Today's economic events: Today, RBA Governor Lowe speaks at an online event hosted by the Union Bank of Switzerland. Besides, we will have four medium-impact economic events, so we may see a medium-term performance from the market.

TRADING ACTIVITIES: Closed trades: Yesterday I closed one of my trades on crude oil at a profit of $53 while leaving the other two still active. Besides that, I had a successful short trade on EUR/AUD, which I selected based on my indicator.

Active Trades:

EUR/JPY: Yesterday I shared a trading opportunity on the EUR/JPY, which was based on the possibility of a double top pattern on the H4chart. I missed the entry level because I was busy, which should have been at the resistance level of 142.63 according to the analysis. Anyway, the trade is now floating at a medium profit, and the target will be 50% of the last ascending wave, as shown in the chart.

EUR/AUD: After closing the short trade yesterday, I kept an eye on the pair because it started forming a bearish price action on the daily chart, and I was right about it because it formed a pin bar pattern. This morning I sold again with a stop loss of 1.5354 while I have not yet decided where the take profit will be. This pair is a bit tricky to anticipate, but it is profitable due to its high volatility. I will move the stop loss to the entry level when the price falls below 1.519404 because, at the moment, it is the closest obstacle for the bears.