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[Week 10 - 2020] Trades Recap and Trade Setups

Updated: Sep 20, 2022

Good day TTs,


Apologies for the late post. Last week was a very intense week as the risk on assets face battle between the bulls and bear. Easy come easy go for the gains despite having 5% increase.


This week I expect market to remain the same (bearish) as US states facing state of emergencies in addition to the Saudi vs Russia oil price / output). Expecting a gap down for oil and stock indices.


Trade Recap


AUD/CHF

Reason:

Rising Wedge broke down Price reject resistance, previously support

Value point also identified at 50EMA @ 30mins


Will also be adding more position as market remain bearish + we are at key value point area.


EUR/AUD

Reason:

Double bottom with neckline broken (also resistance point) Reject and stayed above 50EMA @ 30mins


Trade Setup


S&P500 Futures

Price forming new channel and unable to breakthrough key resistance point (double top neckline). Market remains bearish if price is below 2975. With some states of US declaring state of emergencies. I am expecting market to gap down and remain bearish throughout the week unless news proves us otherwise.


Trade safe all!


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