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. Moving price action will continue to rise, the strength and conditions of the US dollar index may challenge the bulls in the 114.50 range, and when this barrier is surpassed, the rally will counter the downside convergence base at 113.20. In this case, the dominant buyers remain active and resume the upside mid-band, crossing the bridge of New Horizons at 113.60, where immediate resistance breaks the moving average trendline, crossing the 50% retracement at 113.90. On the downside, bear pressure awaits new support at 110.67 before a long-term reversible correction near 108.70 via the weekly and daily pivots levels. Bonus Updated:

Closed trades: Yesterday, I had sell trades floating on the USDCAD pair and expected that a downside rebound might give a reversible correction below the descending appearance of 1.3500. In the earlier session, the dominant buyers retrieved and pushed the price higher above 1.3694 and rejected the downside base of 1.3490. I decided to manage all these positions with a massive loss of $70 and wait for the next double top hurdle at 1.3800; when passing through this overboard conditioning barrier, take downside risk and kept holding the position in a massive swing range of 1.3280. The current stability will strongly attract buyers, and positive vibes may challenge the bulls around 1.3840 ahead of surpassing the MACD and Bollinger band's middle lines around 1.3999.

Important news: Today, the "CB Consumer Confidence" high-impact news schedule for the USD currency will significantly impact the market. Therefore, we must focus on the price action moves and then execute additional trades on the related currency pairs.

GBPUSD SELL TRADES: GBP/USD fell sharply from the past few sessions and broke the last immediate support level, breaching the 23.3% retracement divergence at 1.0345 before closing above 1.0840 when breaking that multi-year low. In this case, I decided to open a sell trade below the ascending channel at 1.0550 and wait for a reversible correction, then keep these positions within the existing target range of 1.0390. On the other hand, if buyers press and hold the price above 1.1050, the bears may be over, and the upside convergence could hit a potential barrier at 1.1355. The current stabilization of moving prices will generate some pip losses, waiting for a breakout of resistance below 1.0476 during the US session before tracking the MACD and RSI midline within the specific monitoring range of 1.0233 over the weekend.

Current Positions: