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Hey Traders,
The final week of 2021 has no significant movement in the market with a relatively thin market as everyone is enjoying the holidays. I hope everyone closed off their books profitably and let's get ready for 2022!
Upcoming Economic Release:
Dollar Index (DXY)
The dollar continues trading within the range but is at the lower bound of the rectangle. Dollar looks ready for some retracement but unless the 95.5 region is broken, shorting the dollar is not recommended.
Spot Gold (XAU/USD)
Gold took advantage of the quiet market and pushed upwards closing off at a recent high of 1828. Structure resistance is at 1843 region where price could potentially retracement.
Trade Recap
AUD/JPY (Analysis 51-2)
Recap (Week 51 - 2 Weeks Ago) Take Profit - 2
Recap (Week 52 - Last Week) Take Profit - 3
Long position reached Take Profit - 3 level where we announced to close / partial.
EUR/JPY (Analysis 47-1)
Recap (Week 51 - 2 Weeks Ago) Take Profit - 1
Recap (Week 52 - Last Week) Take Profit - 2
Long position reached Take Profit - 2 level where we announced to close / partial.
Cotton #2 (Exclusive Trade)
Recap (Week 51 - 3 Weeks Ago) Take Profit - 1
Recap (Week 52 - Last Week) Take Profit - 2
Long at market position reached Take Profit - 2 level where we announced to close / partial.
Trade Analysis / Setups
NZD/CAD (Analysis 1-1)
Long opportunity: Reversal confirmation at 0.86235 region towards 0.87080 as Take Profit - 1 level.
GBP/JPY (Analysis 1-2)
Short opportunity: Break and retest confirmation at 154.96 region towards 154.065 as Take Profit - 1 level.
Cheers to all our member who managed to pack some profits this trading week.
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Stay safe out there and safe trading!