[Week 40 - 2020] Trades Recap and Trade Setups

Good day Traders,

Despite NFP week, market is busy digesting the headlines of Trump's conditions after he was confirmed positive for COVID-19 and no new stimulus deal from the Dems and GOP.

Dollar Index

We have a open short position with the Dollar Index and TP1 level at 93.5 where we can look to minimize our risk from there.

Long confirmation when price reverses from the ascending trend line (to close the short position as well) or another short position (lesser risk trade) when price breaks with retest confirmation at 93.5 level towards 93.0 as TP2 level.

XAU/USD (Spot Gold)

We can see price is respecting the ascending trendline where you can look to enter long (High risk trade) towards the descending trend line at around 1925~ area.

Otherwise, look to short at break and retest of the ascending trend line or reversal confirmation at the descending trend line towards 1840 support area.

Trade Recap

Corn Futures (Exclusive Trade)

We reached TP2 last week where we announced to our Telegram channel to close or take partial of the long position with TP3 as indicated at 389.0

GBP/NZD (Exclusive Trade)

We reached TP2 last week where we announced to our Telegram channel to close or take partial of the long position with TP3 as indicated at 1.9756 area.

NZD/CAD (Exclusive Trade)

We reached TP2 level for this long position where we announced to our Telegram channel to close fully.

EUR/NZD (Analysis 39-2)

Long position would have gotten stopped out. Our only loss for the week.

EUR/CHF (Analysis 39-1)

We reached TP1 level for this pair and announced our group to close / partial / risk free. Shortly after the pair reverses and those who did not close would have get stopped out risk free.

No loss is still a win.

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

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Stay safe out there and safe trading!