[Week 19 - 2020] Trades Recap and Trade Setups

Updated: Sep 20

Good day Trainee Traders,

We are seeing some recovery in the USOIL futures and the stock indices (recovering from last week's red). The dollar remains in a range and did not fall further as what I was expecting last week. However, we are seeing lower high from last week's high.


Trade Recap



Reversal of resistance

Reversal of double top neckline resistance


Last week we analysed that we will be looking to long with more confirmation and was a spot on analysis as price reverses from neckline resistance turned support.

Trade Setup


Price is consolidating at the support region. We may see more further downside. However, I am expecting price to retrace to the 0.38 retracement region which is also a previous support & resistance. However if the support line break, I will be looking for a sell position.


We are seeing a slow price momentum with the ascending trendline broken. Will look for a short position, when the support line breaks which will also form a head and shoulders pattern.

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


0 views0 comments

Recent Posts

See All

Hey Traders, The FOMC release last week caused a huge panic in the market as the FED indicated higher interest number in the dot plan. The market now has the growing belief that the FED will tighten t

Hey Traders, Market risk off sentiment came back after the the release of the anticipated CPI report. Report came higher than what was expected and threw the market back into risk off sentiment, pushi

Hey Traders, Equities enjoyed a strong rally, retracing a significant portion of the move it suffered from the prior week. This is also the first gain in five weeks. CPI will be the key headline every