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[Week 41 - 2024] Trades Recap and Trade Setups

Writer's picture: Tyler - Training TradersTyler - Training Traders

Hey Traders,


The US job report came in better than expected last Friday, pushing both stocks and yield higher. Expectation on rate cut fell for November meeting as market participants see another 50 basis cut to be unlikely.


The US CPI will be the main highlight for the week ahead.


Upcoming Economic Release:

Weekly Economic Calendar for Week 41
Credit: ForexFactory.com Time: +8 GMT

S&P500 Futures

S&P500 closed the week higher

Momentum slowed for the S&P500 in the prior week but still managed to closed the week higher. Price was met with downside pressure until the release of the job report. Bullish momentum remains strong and intact and short position should only be considered if price falls below 4950 region.



Dollar Index (DXY)

The Dollar reverses from last week low

The United States Dollar Index reverses from the prior week low, closing the week at the 102.275 resistance region. The momentum indicate that price would likely continue towards the upside unless price falls back below the 101.495 region.



Spot Gold

Gold remains resilient with a stronger dollar

Gold momentum stalled last week as it begun trading sideways in the lower time frame. However price remained resilient while the Dollar surged in the prior week. Bullish trend remains strong but still remains at elevated level.



Trade Recap (Public Channel)


Soybean - Front Month (Analysis 40-1)

Soybean Analysis

Prior week (Week 40) Take Profit - 1

Soybean reached Take Profit (1) level

High risk short at market reopening position reached Take Profit - 1 level where we announced to closed / partial / risk free.



Trade Recap (Private Channel)


No Updates



Trade Analysis / Setups


USD/JPY (Analysis 41-1)

USDJPY Analysis

Analysis: Price looks to continue towards the upside while potentially having a chance for retracement, possibly giving us a better entry.


Long opportunity: Reversal confirmation at 146.461 support region towards 149.461 as Take Profit - 1 level.


 

2024 Market Order Signal Accuracy Accuracy: 100% Wins: 12 Loss: 0

2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 11 Loss: 0

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Stay safe out there and safe trading!


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