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[Week 42 - 2020] Trades Recap and Trade Setups

Updated: Sep 20

Hey Traders,


The back and forth of the stimulus deal has made stock indices struggle to keep the bull momentum going for the week. However, US retail sales was well above expected however market has no reaction with the good news.


Dollar Index

The dollar has shown sign of recovering. Consider enter long upon market reopen as a HIGH risk trade. Do not enter if it does not suit your risk.


XAU/USD (Spot Gold)


Analysis 41-4 (Recap)

Price reached TP1 level where we announced the group to close / partial / risk free.


Analysis

Price is now respecting an ascending trend line where we can look to enter potential short position when support (Trend line and horizontal) is broken and retested.



Trade Recap


NZD/CHF (Analysis 41-2)

Reached TP1 level where we announced to close / partial / risk free.


Exclusive Trade: then price shown sign of weakening and we announced to look for potential short position


We reached TP2 level where we also announced on our channel to close / partial / risk free for the trade.


USD/CAD (Exclusive Trade)

We identified bullish momentum awaiting for breakout and we announced on our channel to look for break and retest for potential long position. We reached TP2 level which is also the Fibonacci 0.618 region and closed fully.


Corn Futures (Exclusive Trade)


Initial analysis:

Last week: Take Profit 4 level

This week: Take profit 5 level


EUR/JPY (Exclusive Trade)

We identified strong weakening / bearish momentum where we announced to our channel to look for reversal at descending trend line OR short the market now as HIGH risk trade.


High risk trade reached TP1 level, where we then announced to closed / partial / risk free.


Soybean Futures (Exclusive Trade)

We identified strong bullish momentum and announced on our channel to enter long as there were several confluence confirmations already present. We reached TP1 level where we then announced to close / partial / risk free.


NZD/CAD (Exclusive Trade - Stopped out)

We identified break and retest of recent low last week and announced on the group to short the pair. When price reached most recent low @ 0.86908 region we announced on our group to reduce risk. However, position got stopped out at reduced risk as price breaks above the horizontal resistance.



Trade Setups


AUD/USD

Bearish structure on lower time frame while respecting ascending trend line forming an ascending triangle.


Long position: Breakout and retest confirmation at 0.71 region towards 0.71425 region as TP1 level to close fully.


Short position: Breakout and retest confirmation of ascending trend line towards 0.7027 region as TP1 level.


USD/CHF


Price is ranging in a mid term bearish structure.


Long position: Breakout and retest confirmation at 0.9163 region

Short position: Breakout (Trend line and horizontal) and retest confirmation at 0.91345 region


EUR/CHF

Price has finally broke out of the key support region and price is now retest the area.


Long position: (High risk) - Break and retest of 1.073 region towards 1.07559 region. Do not enter if does not suit your risk.


Short position: Break (Trend line and horizontal) and retest of 1.07105 horizontal support and TP1 towards recent low.



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

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Stay safe out there and safe trading!

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