[Week 3 - 2020] Trades Recap and Trade Setups

Good day TT,

Last week overall market shift is sentiment: to more risk assets

Here is some of the trades that I did

GBPJPY

Last week I have reviewed that I will go short when the support is broken. However price has rejected the resistance level and I had just short when the market opened during the night session

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Reason: Resistance in a consolidation pattern and price got rejected

Soybean

On Week One, I have also identified to go short when the support is broken and last week price when passed the support line and is looking bearish!

Reason: Shift in price trend – to bullish to bearish Broke neckline support Volume divergence

Palladium

Just go long! Price seems to be peaking BUT I will only wait for confirmation to short! If not just stay LONG by following trend following identification!

Reason:

Power of 1 / 2 Very bullish market

Trade set up

Gold

I will be looking to go long in GOLD if the price break pass this resistance line. As I have discussed last week, weekly candle didn’t close in red and that is not a good sign to short!

Happy and safe trading!