FX.co ★ 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. A new week has started, and we are ready to execute our trading plan and try to get pips from USD-based currency pairs and metals markets. The U.S. dollar index rebounded strongly last week, breaking below the midline of the Bollinger Bands and above the neutral base bridge at 111.50, which will be the dominant range for bears, and the continuous divergence may close around the weekly candle at 112.20. In this case, long-term traders need to confirm the signal, and Friday's high-impact news data on NFP will further suggest a touch of possible resistance at 110.00, or a reversible correction could form resistance near 113.80. Closed trades: Yesterday, I had sell trades floating on the GBPUSD pair, and unexpected divergence moves on the dollar index strength will give resistance consolidation and monitoring upside range around 1.1200. I decided to manage these trades with a massive loss of $80 and wait for U.S. session breakout obstacles, then take an additional risk with trend direction around 1.1550. On the downside, if the seller's pressure rebounds, the price and prediction may challenge the previous immediate support below 1.0550, then bulls may no longer, and additional losses may appear in a massive swing over a range of moving averages trendline around 1.0200.

Important news: Today, the "ISM Manufacturing PMI" 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.

EUR/JPY BUY TRADES: EUR/JPY has rallied sharply over the past few sessions, breaking the immediate resistance level and breaking a new bridge above 141.50, which would point to a possible upward reversal correction this week towards 145.00. I decided to open positions in the current legislative stability zone, wait for a breakout of 142.60 on the first day, and then continue to hold these positions with an existing target range of 143.34. Additionally, if the downslope overlap situation could reject the upside base and break the 140.00 low, the bulls may be out, and additional losses could send the price sharply below 139.30. The current stability will lead to some pips loss, while further crossovers of fanfiction levels may give more confirmation signals to take pips from the moving market.

Current Positions: