[Week 15 - 2024] Trades Recap and Trade Setups

Hey Traders,

The United States Dollar attempts to appreciate further upon the release of the Non-farm payroll (NFP) report but gave most of it back after the morning session open while the equities market soared. Gold extended its gains with the rise in geopolitical risk in the Middle East region.

This upcoming week is heavy with US economic release such as CPI and PPI. The ECB will also be conducting a press conference which all should keep an eye on as they could signal when and how many rate cuts they are thinking of.

Upcoming Economic Release:

Credit: ForexFactory.com Time: +8 GMT

S&P500 Futures

The S&P500 ended it winning streak with a decent downside move last week. Price found short term support at 5200 region and if it is broken out of this week, we could potentially see the long awaited retracement needed for the S&P500.

Dollar Index (DXY)

The United Dollar Index reattempts to breakout of the recent high but failed as it slipped back below the key 104.34 key resistance region. Now price has created a range between 104.84 and 102.40 region and if broken out of can potentially indicate the next direction for the Dollar.

Spot Gold

Gold push further towards the upside and can now be seen as overextended. Short term support can be identified at 2155 region and if broken out of, can potentially push price back towards consolidation region.

Trade Recap (Public Channel)

No updates

Trade Recap (Private Channel)

No updates

Trade Analysis / Setups

WTI Futures - Front Month (Analysis 15-1)

Analysis: Price is experiencing short to mid term bullish trend but is not yet seen as extended. Opportunity to enter when price retrace towards short term support at 84.60 region.

Long opportunity: Reversal confirmation at 84.60 support region towards 86.00 as Take Profit - 1 level.

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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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