[Week 39 - 2021] Trades Recap and Trade Setups

Hey Traders,

Stock indices recovered some ground as situation with Evergrande subsides at the through the week. However yield and dollar was higher but did not affect the indices movement at all despite being the biggest concern for the previous weeks. Bringing about the phrase "Market can be irrational at times" as there are different traders and investors focusing on different factors affecting the market.

Big FOMC line up next week with potential to move the market from hints of tapering.

Upcoming Economic Release:

Credit: ForexFactory.com Time: +8GMT

Dollar Index (DXY)

The dollar is trading between the 93 and 93.5 region. With the rise in yield / potential tapering, we could see the dollar rise towards 94.0.

Spot Gold (XAU/USD)

Gold rejected the head and shoulders' neckline at 1780 and now trading at 1750. Price action could hint more bearish momentum and more traders looking at more conviction of tapering. A break of the 1728 region could signal a movement towards the 1680 region.

Trade Recap

WTI Crude (Analysis 37-3)

Recap (Week 37 - 2 Weeks Ago) Take Profit - 1

Recap (Week 38 - Last Week) Take Profit - 2

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

AUD/JPY (Analysis 38-3)

Recap (Week 38 - Last Week) Take Profit - 2

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

AUD/CAD (Analysis 38-4)

Recap (Week 38 - Last Week) Take Profit - 3

Short position reached Take Profit - 3 level where we announced to close / partial.

Trade Analysis / Setups

GBP/JPY (Analysis 39-1)

Long opportunity: Break and retest confirmation at 151.53 region towards 152.65 as Take Profit - 1 level.

Short opportunity: Break and retest confirmation at 150.975 region towards 150.03 as Take Profit - 1 level.

Corn Futures (Analysis 39-2)

Long opportunity: Break out confirmation at 528 region towards 536 as Take Profit - 1 level.

Short opportunity: Break and retest confirmation at 525.75 region towards 514.0 as Take Profit - 1 level.

Natural Gas (Analysis 39-3)

Long opportunity: At market reopens as High Risk Trade towards 5.63 region as Take Profit - 1 level.

---

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

Join our telegram channel at: https://t.me/traineetraders

Instagram: https://www.instagram.com/trainingtraders/

Facebook: https://www.facebook.com/trainingtraders

Stay safe out there and safe trading!