[Week 35 - 2024] Trades Recap and Trade Setups

Hey Traders,

Powell reaffirms the market that its time for policy adjustment. The United States Dollar fell sharply while stocks continued on its upside. Job market remains as a key concern which Powell pledges the FEDs to assist whichever they can.

Upcoming Economic Release:

Credit: ForexFactory.com Time: +8 GMT

S&P500 Futures

Prior descend was quickly forgotten ask price continues to ascend towards the upside, reaffirming the strong bullish momentum. However, in the long term outlook, price continues to remain at an elevated level.

Dollar Index (DXY)

The United Dollar Index fell sharply, closing the week at key support level at 100.60 region. Price is extended but may continue to fall towards 99.365. We see buying potential at 99.365 but will await to see how price structure develops.

Spot Gold

Gold continue to ascend towards the upside and firms above the 2500 price level. Bullish momentum remains strong but if price falls below 2432 region, price may trade back within the previous consolidation region.

Trade Recap (Public Channel)

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Trade Recap (Private Channel)

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Trade Analysis / Setups

Gold - Front Month (Analysis 35-1)

Analysis: Gold can be seen as mildly overbought and may potentially retrace awaiting for signal. If price falls below 2480 region, it can potentially look to trade towards 2430 region.

Short opportunity: Break and retest of 2480 region towards 2432 as Take Profit - 1 level.

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2024 Market Order Signal Accuracy Accuracy: 100% Wins: 10 Loss: 0

2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 10 Loss: 0

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