[Week 24 - 2020] Trades Recap and Trade Setups

Updated: Sep 20

Good day Trainee Traders,

Last week, we experienced some risk off sessions. As discussed on last week's post, I have anticipated that there will be some retracement/correction that will be going on.

On last week's set up:


We experienced a second rejection of the ascending trend line before reaching our Take Profit.


I have discussed that the price momentum were too fast and will be experiencing some pullback last week.

This is now a risk free trade and TP1 would be around 66.0

Trade Recap



Break of head and shoulders pattern & support line

Trade Setup


Price has already formed a small double top pattern and now is being retested. Will look for short when the minor resistance area 0.65 is rejected.


Will be looking for a short when price reverses from the descending trend line. Overall, the risk on currency does not look promising.


With the current risk off sentiment, will be expecting dollar to gain some ground here and EUR/USD is facing a slower momentum. Once the support area is retested with a clear rejection, we can look for a short position.

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


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