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Hey Traders,
Equities fell last week potentially due to market participants taking profit. However, with the recent trend that every dip is quickly bought back, will this time be any different as we head towards a heavy economic calendar.
Upcoming Economic Release:
S&P500 Futures
The S&P500 Index attempts to trade higher but fails as it approached prior week high. However price can be seen as resilient as it closed the week near unchanged. As we like to mention again, equities index can be seen as extended and is due for a correction.
Dollar Index (DXY)
The United Dollars Index trades in consolidation last week as anticipated. The Dollar now trades between 102.40 and 103.03 region. Breaking out of this consolidation region can indicate the next short term direction for the Dollar Index.
Spot Gold
Gold attempts to climb higher but to no avail now experienced a consolidation, forming a descending triangle with support level at 2155 region. Breaking out of this support region can potentially push price towards the 2120 level.
Trade Recap (Public Channel)
No updates
Trade Recap (Private Channel)
No updates
Trade Analysis / Setups
NZD/CAD (Analysis 12-1)
Analysis: Price can be seen as extended in the 4 hour time frame. Short term long position can be taken, in anticipation of short term retracement or consolidation.
Long opportunity: At market reopening as High Risk trade towards 0.82674 as Take Profit - 1 level.
2024 Market Order Signal Accuracy Accuracy: 100% Wins: 2 Loss: 0 |
2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 6 Loss: 0 |
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Stay safe out there and safe trading!
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