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[Week 16 - 2020] Trades Recap and Trade Setups

Updated: Sep 20

Good day Trainee Traders,


Market is taking in any good news they can find for reason to buy. Indices continue to surge up and maintaining in the 50% retracement region. This week will be see a retracement or a possible continuation of the bear market? Dollar continues to struggle due to the indecision of the market due to the COVID-19.



Trade Recap


EUR/JPY

Reasons:

Resistance Reversal

Break of trendline as support turned resistance with retest.


Trade Setup


EUR/AUD

Lying at one support level struggling to break below. If price do have a break below, we could potentially see more downside. However, I am having a bullish bias for this one still.


XAU/USD - GOLD

Price has formed a new high last week but price action seem to struggle to continue higher as it pushed too high. We are likely to get some retracement or possibly a reversal? Only time and price will tell.


That is all for this week post. Trade safe but most importantly stay safe all!


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Closed off Premium Group Signal (February) with +10.22%

Closed off Premium Group Signal (March) with -3.89%


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