Search

[Week 06 - 2022] Trades Recap and Trade Setups

Updated: Sep 20

Hey Traders,


We warned that the dollar will face some weakness this week and the dollar did in fact gave up all the gains it had the previous week. Commodities prices continue to rise (especially oil and grains) and S&P500 reverses from the support we identified and closed the week higher.


Upcoming Economic Release:

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


Dollar Index (DXY)

The dollar fell back to within the range just like we identified in last week post as the momentum was at extreme level and we expected some retracement.

Spot Gold (XAU/USD)

Gold had a volatile week as prices fell but quickly recovered. Price is trading with in the range of 1790 to 1810 but is still trading above the ascending trend line so emphasis more on long. A break of the 1810 resistance region may signal price towards the 1828 target.



S&P500 Futures

The S&P500 failed to push through the 4280 support line that we identified and reverses and managed to stay above the 200SMA last week but failed to break through the 4545 resistance. A breakout of the resistance will improve the bullish bias and signal the continuation of the bull run.



Trade Recap


AUD/JPY (Analysis 5-3)

Recap (Week 05 - Last Week) Take Profit - 1

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



Trade Analysis / Setups


GBP/USD (Analysis 6-1)

Long opportunity: Break and retest confirmation at 1.3546 region towards 1.36462.


Short opportunity: Break and retest confirmation at 1.35075 region towards 1.34407.

GBP/JPY (Analysis 6-2)

Long opportunity: Reversal confirmation at ascending trendline towards 156.513.


Short opportunity: Break and retest confirmation at 154.958 region towars 154.065.



Corn Futures - Front Month (Analysis 6-3)

Long opportunity: Break out confirmation at 623 region towards 639.75.



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

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!

25 views0 comments

Recent Posts

See All

Hey Traders, The FOMC release last week caused a huge panic in the market as the FED indicated higher interest number in the dot plan. The market now has the growing belief that the FED will tighten t

Hey Traders, Market risk off sentiment came back after the the release of the anticipated CPI report. Report came higher than what was expected and threw the market back into risk off sentiment, pushi

Hey Traders, Equities enjoyed a strong rally, retracing a significant portion of the move it suffered from the prior week. This is also the first gain in five weeks. CPI will be the key headline every