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[Week 14 - 2024] Trades Recap and Trade Setups

Hey Traders,


It was a short week but packed with economic line up last week. Powell speech describe the recent economic as "good to see" but also emphasized that will the FEDs will not hesitate to long rates for longer if inflation does not come down (also not mentioning of any potential hike).


Upcoming Economic Release:

Weekly Economic Calendar for Week 13
Credit: ForexFactory.com Time: +8 GMT


S&P500 Futures

S&P500 extends higher but no new high

The S&P500 closed the week higher but did not reach any new high last week. Price trend remains strong but at a elevated level where price is potentially due for a correction.



Dollar Index (DXY)

Dollar extends gain

The United Dollars Index extends higher towards the key resistance level at 104.34 but failed to closed the week above it. Dollar looks to regain momentum and by breaching this key resistance level could potentially push price towards the recent high at 107 region.



Spot Gold

Gold closed the week with a new recent high

Gold pushed further towards the upside, closing the week at the high region at 2,233. Price remains in the bullish trend until the 2150 support region is broken out of.



Trade Recap (Public Channel)


No updates


Trade Recap (Private Channel)


No updates



Trade Analysis / Setups


NZD/CAD (Analysis 14-1)

NZDCAD Analysis

Analysis: Price dipped further and now is at overextended level at the higher time frame and is due for a retracement. High risk long position can be taken.


Long opportunity: Long at market (3rd position) at market reopening towards 0.82153 as Take Profit - 1 level for overall trade.


 

2024 Market Order Signal Accuracy Accuracy: 100% Wins: 2 Loss: 0

2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 6 Loss: 0

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Stay safe out there and safe trading!

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