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[Week 02 - 2024] Trades Recap and Trade Setups

Hey Traders,


The start of 2024 ended with equities index ended their 9th consecutive weekly run towards the upside. The state of the US economy remains as the key highlight as market constantly screen whether there is any shift to a hard landing. Next week's CPI will be the key release to look out for.


Upcoming Economic Release:

Weekly Economic Calendar for Week 02
Credit: ForexFactory.com Time: +8 GMT


S&P500 Futures

S&P500 ends its weekly upside streak

The S&P500 finally broke its weekly streak, closing the first week of 2023 in the negative. However will this downside continue? Price currently remains at the neutral level but we believe if price manage to slip below the 4630, we can see more downside momentum in equities and possibly a shift from greed to fear.



Dollar Index (DXY)

Dollar remains resilient

The United States Dollar Index continues its upside recovery. Price found support at the minor support at 101.575 upon the news release. If price continues to trade above 101.575, it can possibly trade towards the major resistance region at at 104.34. However, if the support at 101.575 does not hold, we can potentially see the Dollar slip towards the recent low.



Spot Gold

Gold failed to maintain above the consolidation again

Gold once again failed to extend and maintain above the consolidation zone. Price dipped and closed a minor support region at 2040 region and if this level does not hold, we can look forward to seeing price dip towards the 1980 region once again.



Trade Recap (Public Channel)


S&P500 Futures (Analysis 1-1)

S&P500 Analysis

Recap (Week 1 - Last Week) Take Profit - 1

S&P500 reached Take Profit (1) level

High risk short at market opening position reached Take Profit - 1 level where we announced to close / partial / risk free.



Trade Analysis / Setups


AUD/USD (Analysis 2-1)

AUDUSD Analysis

Analysis: Price dipped to minor support region but overall mid term trend remains bullish. Next direction can be determined if either the resistance or support level is breached.


Long opportunity: Break and retest confirmation at 0.67162 region towards 0.68735 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 0.66753 region towards 0.65414 as Take Profit - 1 level.


 

2024 Market Order Signal Accuracy Accuracy: 100% Wins: 1 Loss: 0

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Stay safe out there and safe trading!

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