Search

Week 5 - 2022. Trades review and trade set ups

Hey Traders,


Another volatile week as the US Dollar further strengthen while commodity currency such as the AUD fell to key support area. Gold had a strong fall as the dollar appreciate likely due to the market favoring the dollar as a stronger safe haven.


Upcoming Economic Release:

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


Dollar Index (DXY)

The dollar got to a new recent high breaking the 97.0 resistance. Expect a reversion to mean in momentum, meaning a likely consolidation period or a small correction.

Spot Gold (XAU/USD)

Gold slid but reached a minor support at 1782 level. Price is still respecting the ascending trend line so continue to maintain bullish bias unless it is breached.



Trade Recap


Corn - Front Month (Analysis 3-3)

Recap (Week 03 - 2 Weeks Ago) Take Profit - 2

Recap (Week 04 - Last Week) Take Profit - 3

Long position reached Take Profit - 3 level where we announced to close fully.



USD/CAD (Analysis 4-1)

Recap (Week 04 - Last Week) Take Profit - 2

Long position reached Take Profit - 2 where we announced to close / partial.


Trade Analysis / Setups


XAU/USD (Analysis 5-1)

Long opportunity: Break and retest confirmation at 1798.5 region towards 1828.5 region.



AUD/USD (Analysis 5-2)

Long opportunity: Break and retest confirmation at 0.7025 region towards 0.7093.



AUD/JPY (Analysis 5-3)

Long opportunity: Break and retest confirmation at 81.06 region towards 82.1.


Short opportunity: Break and retest confirmation at 80.492 region towards 78.85.



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

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!

28 views0 comments