Search

Week 37 - 2021. Trades review and trade set ups

Hey Traders,


Last week, the market were risk off due to the potential of tapering as FEDs member believe rates should rise in the near future. In addition, to the possibility of cycle impacting the stock market as September has been historically bad for stocks.


Upcoming Economic Release:

(Credit: ForexFactory.com Time: +8GMT)



S&P500

As we explained on Week 35, price of the stock indices are overextended and could see a potential mean reversion. Last week, prices began to fall and expected to fall to the ascending trend line, supported by the 200 EMA on the 4 hours time frame which we closed the week at.



Dollar Index (DXY)

The dollar weakened but found support at the 92.4 region but saw reversal, breaking the descending trend line, looking to test the 92.795 resistance.



Spot Gold

Gold fell sharply as the market sees the increased chances of tapering. Price is trading between the 1785 to 1800 region. Any breakout confirmation of the consolidation could signal the next potential move of Gold.


Trade Recap


Sugar No.11 (Analysis 36-3)

Recap (Week 36 - Last Week) Take Profit - 1

Short position reached Take Profit - 1 level where we announced to close / partial / risk free.



Trade Analysis / Setups


AUD/USD (Analysis 37-1)

Long opportunity: Await for reversal confirmation, to long when descending trend line is broken out of, towards 0.74700.



USD/CAD (Analysis 37-2)

Long position: Reversal confirmation at 1.26600 region towards 1.27273.



WTI Futures (Analysis 37-3)

Long opportunity: Break and retest confirmation at 69.88 region towards 71.96.

Short opportunity: Break and retest confirmation at 67.87 region towards 65.62.


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

Cheers to all our member who managed to pack some profits this trading week.


Join our telegram channel at: https://t.me/traineetraders

Instagram: https://www.instagram.com/trainingtraders/

Facebook: https://www.facebook.com/trainingtraders


Stay safe out there and safe trading!

17 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