[Week 09 - 2022] Trades Recap and Trade Setups

Hey Traders,

The tension between Russia and Ukraine caused a huge volatility in the market. It was strong risk off earlier on the week but moves are retraced ending off the week. S&P500 even closed the week higher while Gold traded lower.

Upcoming Economic Release:

Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

The Dollar is a risk off asset (safe haven) and increased in value earlier on the week. However, a huge portion was erased, trading back the consolidation range between 95.83 and 96.91.

Spot Gold (XAU/USD)

Being a risk off asset, Gold also spiked earlier on the week but closed off the week lower. We now have a huge pin bar and has traded below 1910 region. A break below 1868 region could potentially push prices lower.

Trade Recap

Dollar Index (Analysis 8-1)

Recap (Week 08 - Last Week) Take Profit - 3

Long at market position reached Take Profit - 3 level where we announced to close / partial.

NZD/CAD (Analysis 8-2)

Recap (Week 08 - Last Week) Take Profit - 2

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

Corn Futures - Front Month (Analysis 6-3)

Recap (Week 06 - 3 Weeks Ago) Take Profit - 2

Recap (Week 08 - Last Week) Take Profit - 4

Long position reached Take Profit - 4 level where we announced to close / partial.

Trade Analysis / Setups

GBP/USD (Analysis 9-1)

Long opportunity: Break and retest confirmation at 1.3438 region towards 1.35135 as Take Profit - 1 level.

Short opportunity: Break and retest confirmation at 1.33695 region towards 1.32753 as Take Profit - 1 level.

Soybean May Contract (Analysis 9-2)

Long opportunity: Reversal confirmation at 1563.75 region towards 1625.5 as Take Profit - 1 level.

WTI Front Month Contract (Analysis 9-3)

Long opportunity: At market reopens towards 94.57 as Take Profit - 1 level.

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

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