Search

Week 23 - 2020. Trades review and trade set ups

Good day Trainee Traders,


Market remains strongly risk on last week as we see the NASDAQ reenters the all time high. Good long for AUDJPY pair again this week as well as USOil as discussed last week.


NASDAQ

What a strong V-shape recovery. In my opinion, I feel that the market is overly optimistic right now and will be preparing to hedge some position as I am expecting others to do the same as well. Trade Recap


USD/CAD


Last week, I have talked about shorting the USDCAD as I am expecting more upside for the USOil as well. However, there was not a retest of the resistance region, so once the support level was broken, I immediately entered a short.



Trade Setup


NZD/JPY

Has a strong momentum to the upside which i see as too strong of a movement and we have approached one of the key resistance area. will be looking to short this pair once we have a bearish candlestick confirmation.


AUD/NZD

Price is now lying at the ascending trend line region. If reversal can be seen, I will be looking for a long position. However, I am having a bearish bias so once the trend line is broken, I will be looking to short once the trend line has been retested.


CAD/CHF

This pair is now experiencing an upside movement. Will be entering a long position at the value point of the previous high which will coincide with the 50-EMA or price rejection of the ascending trend line.


That is all for this week! Stay safe and trade safe!


----------------------------------------------------------------------------------------


4 views0 comments

Recent Posts

See All

Hey Traders, Risk on assets continues its rise with major indices reaching a key 50% retracement level and up for the 4th consecutive week. Yield are actually up despite from the release of the CPI re

Hey Traders, Commodity prices such as corn, soybean and even crude oil fell throughout the week possibly giving more risk on attitude in the market as stock indices continue to soar. However, interest

Hey Traders, Its the month end again and we see the stock indices closed off the week in the green. The key concern right now is that the US is could be entering a stagflation as inflation rises with