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[Week 18 - 2024] Trades Recap and Trade Setups

Hey Traders,

The Japanese Yen (JPY) was the highlight of last week as it continues to weakened after the BOJ decision. Although there was an initial strengthening, buyers was quick to swoop in and resulted in further weakening. US core PCE data came in better than expect, allowing for stock indices to experience recovery from the previous week losses.

FOMC and unemployment rate will be the highlight for the upcoming week, which can make or break the stock market due to the recent tension in the market.

Upcoming Economic Release:

Weekly Economic Calendar for Week 18
Credit: Time: +8 GMT

S&P500 Futures

S&P500 retraces previous loss

The S&P500 index closed the week higher, retracing around 50% of the loss it experienced from the previous weeks. However, price remains at a elevated level, albeit not at a critical level now. However, if there is no steep movement in the upcoming week, we believe price will continues to climb towards the upside.

Dollar Index (DXY)

Dollar found short term support level

The United States Dollar Index retraced during the prior week due to the steep upside movement it experienced. As the 50 daily exponential moving average catch up with price, The Dollar can potentially trade towards the high at 107 region.

Spot Gold

Gold trades in consolidation

Gold trades within the range between 2300 and 2430. A breakout of this range can potentially indicate the next short term trend for Gold, with upside target at 2500 and downside target at 2230 region.

Trade Recap (Public Channel)

No recap

Trade Recap (Private Channel)

No recap

Trade Analysis / Setups

Cotton No.2 Futures - Front Month (Analysis 18-1)

Cotton #2 Futures Analysis

Analysis: Price experienced a sharp decline over the short period and can now be seen as extended. Reversal position (long) can be taken to trade the potential retracement or even reversal.

Long opportunity: High risk Long at market as reopening towards 83.89 as Take Profit - 1 level.


2024 Market Order Signal Accuracy Accuracy: 100% Wins: 3 Loss: 0

2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 8 Loss: 0

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Stay safe out there and safe trading!

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