[Week 42 - 2024] Trades Recap and Trade Setups

Hey Traders,

Stock indices continued to close higher for the week although with slower momentum. The broader market ascend higher including the Dollar except for the grains market which fell after the WASDE report as production and end stock reported higher than estimates.

Upcoming Economic Release:

Credit: ForexFactory.com Time: +8 GMT

S&P500 Futures

The S&P500 closed another week higher even though momentum has slowed considerably in the recent week. Bullish momentum remains strong and intact and short position should only be considered if price falls below 4950 region.

Dollar Index (DXY)

The United States Dollar Index continue its climb towards the upside. Price looks to trade towards 103.55 resistance region and if momentum persist, we may see price continue towards the key resistance zone at 104.34. However, consideration to short will be open if momentum remains sharp when price trades towards 104.34.

Spot Gold

Gold continue trading sideways betwen the 2620 region and 2680 region. Bullish trend remains intact albeit at elevated level in the higher time frame. We will be waiting for short opportunity.

Trade Recap (Public Channel)

Soybean - Front Month (Analysis 40-1)

Prior week (Week 41) Take Profit - 2

High risk short at market reopening position reached Take Profit - 2 level where we announced to closed fully.

Trade Recap (Private Channel)

No Updates

Trade Analysis / Setups

WTI - Front Month (Analysis 42-1)

Analysis: Trend has tilted towards the upside after reversing from key support level. Potential retracement can head towards 71.85 region where any reversal confirmation can give us a buy signal.

Buy opportunity: Reversal confirmation at 71.85 region towards 75.84 as Take Profit - 1 level.

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2024 Market Order Signal Accuracy Accuracy: 100% Wins: 12 Loss: 0

2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 11 Loss: 0

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