Market Overview: Good Morning! Hello everyone, how are you doing? I'm fine, and I hope everyone else is, too. In fact, I had some issues yesterday, I couldn't update my trading journal, and I couldn't manage my running positions, so my account is now running in a huge floating loss of almost 6800 $ plus, due to unexpect crude oil bullish move, currently at 110.80. Gold is moving in a downward corrective channel and trading at 1824. The dollar is weak against all major cross pairs. USDJPY prices have been pushing higher highs toward the last high price level to retest again 136.70.
DollarIndex: I was absent from investsocial the last day, so I am unable to update you on my last prediction for dollarindex. Currently, dollar index is trading at price 103.91 and in last day's trading, it broke its symmetric triangle pattern on the downside, as I pointed out in my last update on the weekend. In the coming days of this week, I expect more weakness in the dollarindex and the dollar will remain weak against all other currencies. Manage your trades accordingly.
Today Economic News Scheduled for Trading: Checking the economic news calendar for today, I discovered some medium-impact and high-impact news will be released during the G-7 meetings, which will be crucial for forex traders. During the G-7 meetings, the market will remain highly volatile, so use tight stop losses in your trades. Here is a screenshot showing the news that was released today.
Trading Activities: Closed Positions: Since my last day trading activity, I have not closed any trades.
Active Positions: My trading account has a lot of open sell and buy positions, which has resulted in a floating loss of -6775.78 $. In the last three to four working days, I again overtraded in my account, so my running loss increased. I made a mistake in crude oil analysis, and I did a scalping trade on the trend line retest using a lot size of 1 $, but crude oil is trading at 110.40, as you can see in the screenshot, so I am facing a huge loss. I will hold my positions at the end of this week, I have sufficient capital to hold my running positions for a long time, and make my positions stable, then I will exit from my running positions safely.
USDJPY: I opened three sell positions in the USDJPY at the end of last week, that I'm still holding for a good profit, but you can see in my share chart that two consecutive bullish pin bar candles signal a bullish trend. I will however exit my USDJPY sell positions once dollarindex is weak and USDJPY is moving bearishly. USDJPY is currently trading at 135.38 and I am facing almost 700 loss in my Japanies sell positions.
Bitcoin: On my Bitcoin chart, you can see that I am right on the buy side, still holing by buyers. At present, Bitcoin is trading at 20763,08 with a loss of almost 128 $, but it will soon be bullish and I will recover my losses. Moreover, RSI indicator indicates oversold condition per weekly time frame, and we will soon have a longer term bullish trend. Good luck.
