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[Week 01 - 2023] Trades Recap and Trade Setups

Updated: Jan 31

Hey Traders,

Most assets continues to trade within the range due to the festive period. Liquidity was thin and asset such as the equity index trades in wide ranges throughout the week but contained to within the range. The first week of 2023 will we heavy as we will look out for the unemployment figure and the the non farm payroll. I would expect the report to be mostly in line with the expectation for this.

Upcoming Economic Release:

Weekly Economic Calendar for Week 01
Credit: Time: +8 GMT

S&P500 Futures

S&P500 continues to trade within the range.

The S&P 500 continues to trade within the range and below key descending trend line. As mentioned, price breaking out of the 3815 will indicate more bearish tone while breaking out of 3915 will be more bullish.

Dollar Index (DXY)

Dollar trades in consolidation but fail to break the 50 EMA

The United States Dollar Index continues to trade with in the range but failed to trade above the 50 exponential moving average (EMA) and ended off the week at the low of the range. Breaking out of the 104.734 resistance can bring more strength to the dollar but if price were to fall below the recent low, the bullish trend of the Dollar will cease.

Gold Futures

Gold trades sideway but remains strong seasonally

Gold continues to trade above the short term ascending trend line and ended the week near the high of the range. As longer time frame momentum is moving back towards the mean, gold can potentially see more upside in the coming months due to seasonality.

Trade Recap

No Updates

Trade Analysis / Setups

NZD/CAD (Analysis 1-1)

NZDCAD Analysis

NZD/CAD is trading at a small consolidation. Await breakout and retest for potential entries.

Long opportunity: Break and retest confirmation at 0.86159 region towards 0.86983 as Take Profit - 1 level.

Short opportunity: Break and retest confirmation at 0.85626 region towards 0.84713 as Take Profit - 1 level.

USD/JPY (Analysis 1-1)

USDJPY Analysis

USD/JPY currently lies at key support level. We will no long now as dollar strength remain weak. However we can look for entry when price shows a less bearish tone.

Long opportunity: Break and retest confirmation at 134.266 region towards 137.76 as Take Profit - 1 level.


Happy New Year!

Let us make 2023 a great trading year once again

Last year, we made 32 market order signals to on our weekly post and telegram channel.

Out of this 32 trades, there were 9 stopped out and 23 trades which at least met Take Profit - 1 level. Which give us an approximate of 71.8% win rate for this year, excluding other analysis.

We would like to thank all of you for your continual support and we hope to provide more value as always.

Stay safe out there and safe trading!

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