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Week 03 - 2021. Trades review and trade set ups

Good day Traders,


Last week we have a slight risk off tone in the market with the US dollar rising across the board while equities suffer minor decline. USDA report on soft commodities report lower production pushing Soybeans, Corns and other relevant products' prices higher. Thankfully we are still long Soybeans.


Dollar Index (DXY)

The dollar receiving some upside movement. However primary trend is still bearish. Would sit on the side line for now and continue observing the market.



XAU/USD (Spot Gold)

Price of Gold was unable to keep above 1930 region, one of the key resistance region. Price is now consolidating and testing the minor support region of 1823 region.



Trade Recap


Cotton No.2 Futures (Analysis 51-2)


Recap (Week 1) Take Profit - 2 level


Recap (This Week) Take Profit - 3 level

Long position reached Take Profit - 3 level where we mentioned to closed fully.



EUR/AUD (Analysis 1-2)


Recap (Week 1) Take Profit - 2 level


Recap (This Week) Take Profit - 3 level

Short position reached Take Profit - 3 level where we mentioned to close fully.



GBP/CAD (Analysis 2-3)


Recap (This Week) Take Profit - 2 level

Long position reached Take Profit - 2 level where we announced to close / partial.



Soybean Futures (Exclusive Trade) - Long at market


Recap (Week 1) Take Profit - 2 level


Recap (This Week) Take Profit - 3 level

Long position passed Take Profit 3 level where it can be closed / partial. Generally we are mid - long term bullish on soybean. Adding more position / letting the profit run is ideal.



Trade Setup / Analysis

USD/CHF (Analysis 3-1)

Long opportunity: Break and retest of resistance at 0.892 region towards 0.8985



NZD/USD (Analysis 3-2)

Short opportunity: Retest confirmation at resistance 0.7154 region towards 0.70655.



GBP/NZD (Analysis 3-3)

Long opportunity: Break and retest of resistance 1.90795 region towards 1.93445.

Short opportunity: Break and retest of support 1.8915 region towards 1.8705.



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Cheers to the member who managed to pack some profits this trading week. Good profit to start of the new year.

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Stay safe out there and safe trading!

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