[Week 37 - 2024] Trades Recap and Trade Setups

Hey Traders,

The start of September was brutal on stocks as seasonal prove strong yet again. Non-farm payroll (NFP) reports softer numbers and stocks pushed higher initially but the move faded quickly and turned lower.

The US CPI and PPI is scheduled next week and any deviation from expected number can lead to volatility in the market.

Upcoming Economic Release:

Credit: ForexFactory.com Time: +8 GMT

S&P500 Futures

The S&P500 index reverses near the all time high and look to trade back towards recent low at 5195 region. However, bullish momentum remains strong and short positions should only be considered if price trades below 4960 region.

Dollar Index (DXY)

The United States Dollar Index continued to weakened but found support again at key support region at 100.525. If price is able trade above 102.22, it can potentially push towards 103.155 while falling past below key support region at 100.525 can push price towards 99.365.

Spot Gold

Gold continue to trade in consolidation between 2480 and 2530. The next short term direction can be determined if price breaks out of this consolidation region. A breakout towards the upside can potentially push price towards 2580 while downside breakout can push price towards 2430 region.

Trade Recap (Private Channel)

No Updates

Trade Recap (Public Channel)

USD/CAD (Analysis 36-1)

Prior week (Week 36) - Take Profit - 1

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

Trade Analysis / Setups

USD/JPY (Analysis 37-1)

Analysis: Price trades at key support region. If price breaks out of this key support region, price can potentially turn bearish, only if there is a retest confirmation.

Short opportunity: Breakout and retest confirmation at 142.250 region towards 137.747 as Take Profit - 1.

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2024 Market Order Signal Accuracy Accuracy: 100% Wins: 11 Loss: 0

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

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