Search

Week 04 - 2021. Trades review and trade set ups

Hey Traders,


Last week we had a great US PMI result however the most asset classes is relatively quiet as they trade side ways. The strong PMI was a strong signal that the US economy is still wrong despite the pandemic.



Dollar Index (DXY)

The dollar continues trading within the range of 90.06 and 90.58 region. A inverse head and shoulders pattern has begun to form and a breakout towards the upside can spur huge price movements.



Spot Gold (XAU/USD)

Gold is range bound wthin the 1823 and 1860 region with a small bullish bias.



Trade Recap


EUR/JPY (Exclusive Trade)

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



EUR/NZD (Exclusive Trade)

Long at market position reached Take Profit - 1 level where we announced to close fully.



NZD/CAD (Exclusive Trade)

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



CAD/JPY (Exclusive Trade)

Long at market position closed at reduce level as price exhibit strong bearish signals.



Trade Analysis / Setups


CAD/JPY (Analysis 4-1)

Short opportunity: Break and retest of 81.28 support region towards 80.56



EUR/JPY (Analysis 4-2)

Long opportunity: Retest confirmation of 126.055 support region towards 126.65



GBP/NZD (Analysis 4-3)

Long opportunity: Break and retest confirmation of 1.9074 resistance region towards 1.91945.


Short opportunity: Break and retest confirmation of 1.89975 support region towards 1.89055.



----------------------------------------------------------------------------------------

Cheers to the member who managed to pack some profits this trading week from the market level trades.


Join our telegram channel at: https://t.me/traineetraders

Instagram: https://www.instagram.com/traineetraders/

Facebook: https://www.facebook.com/traineetraders

Stay safe out there and safe trading!

55 views0 comments

Recent Posts

See All

Hey Traders, Risk on assets continues its rise with major indices reaching a key 50% retracement level and up for the 4th consecutive week. Yield are actually up despite from the release of the CPI re

Hey Traders, Commodity prices such as corn, soybean and even crude oil fell throughout the week possibly giving more risk on attitude in the market as stock indices continue to soar. However, interest

Hey Traders, Its the month end again and we see the stock indices closed off the week in the green. The key concern right now is that the US is could be entering a stagflation as inflation rises with