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 U.S. dollar index has firmly held the bullish base and is trying to break through the new resistance level. It crosses the neckline at around 112.50, which will attract short-term buying. Overcorrection may form the next immediate resistance around 113.80. Additionally, non-farm payrolls will be the main focus and push prices higher above 114.00 or bounce back to justify a lower range of 110.70. The current upbeat situation will attract bears, with successive divergences likely dropping prices below 108.60. Bonus Updated:

Closed trades: Yesterday, I had buy trades floating on the EURJPY pair and expected that upside convergence may tackelout the upper middle band of 50% retracement level at 142.50. As we can see, the massive swing in the dollar index will drop the price, and the prediction may challenge the bears to around 141.00. I decided to manage these trades with an enormous loss of $29, get additional confirmation with high-impact news data for NFP then take additional risk in the vast divergence range of 138.70-145.00. The short-term oscillator clouds and Bollinger band middle lines will clear the bullish base, and another crossover of fanfiction levels above 142.45 will keep holding the price above 143.80.

Important news: Today, the "JOLTS Job Openings" 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.

AUDUSD BUY TRADES: AUD/USD has risen sharply over the past few sessions and has broken new horizons above a neutral bottom descending channel at 0.6460, which would signal a bullish directional signal, with further gains likely to push prices above 0.6570. I decided to open a long trade in the current stability zone and wait for the impact of the unemployment rate this weekend to shift focus to the wide range of 0.6770. On the other hand, if there is a reversible pullback in bear pressure and challenges the bulls below the downside zone of the MACD and RSI midline at 0.6334, the bulls may no longer open the door for the bears to touch the descending channel at 0.6200. The current stability will lead to some pip loss and a further break above the fanfiction level above 0.6535 before passing the weekly and daily pivot point barrier at 0.6690.

Current Positions: