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[Week 20 - 2024] Trades Recap and Trade Setups

Hey Traders,

The University of Michigan consumer sentiment index reported weaker sentiment than estimates which pushing yield higher but the equities market was unfazed as buy the dip frenzy continues to dominate, pushing prices towards the upside with the Dow up 8th day in a row.

The US PPI and CPI will be the main highlight for the upcoming week.

Upcoming Economic Release:

Weekly Economic Calendar for Week 20
Credit: Time: +8 GMT

S&P500 Futures

S&P500 recovers loss from previous month

The S&P500 index has almost recovered the loss it experienced in the previous month as equities continues to climb towards the upside. Bullish trend remain intact, but price remains at a elevated error. Short position should only be considered if price breaks below the 5000 key support level.

Dollar Index (DXY)

Dollar struggles to push towards the upside

The United States Dollar Index found support at the 104.84 region, along with the 50 daily exponential moving average but met with resistance pressure located at 105.425 region. If price breaks above the 105.425 region, we can potentially see more upside in the Dollar while trading below 104.34 can indicate more downside.

Spot Gold

Gold found near term support and trades higher

Gold continue to find support at 2300 region and pushed towards the upside later the week, closing the week near 50% of the consolidation region. The next short term direction can be identified when price breaks out of the consolidation region.

Trade Recap (Public Channel)

WTI Futures - Front Month (Analysis 19-1)

WTI Futures Analysis


WTI reached Take Profit (1) level

High risk long at market reopening position reached Take Profit - 1 level where we announced to close / partial / risk free.

Trade Recap (Private Channel)

No recap

Trade Analysis / Setups

Sugar 11 Futures - Front Month (Analysis 20-1)

Sugar #11 Futures Analysis

Analysis: Price is now trading in consolidation after an extended period of downtrend. As price is not overextended yet, there is a higher probability that price will continue with the downside momentum. Position should only be considered when price breaks out of the consolidation where the next short term trend can be identified.

Long opportunity: Break and retest at 20.50 region towards 21.78 as Take Profit - 1 level.

Short opportunity: Break and retest at 19.20 region towards 17.61 as Take Profit - 1 level.


2024 Market Order Signal Accuracy Accuracy: 100% Wins: 4 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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