[Week 46 - 2024] Trades Recap and Trade Setups

Hey Traders,

After the decision of the US election, market rallied after uncertainty is no more. The United States Dollar also appreciated sharply after the election despite a fall in yield. Market is likely still digesting the news and correction might experience in some market.

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Credit: ForexFactory.com Time: +8 GMT

S&P500 Futures

The S&P500 index pushed through higher after finding support at short term support at 5725 region. Price remains at an elevated level unless 4950 region is broken out of where price sentiment will tilt to bearish.

Dollar Index (DXY)

The United States Dollar Index experienced downside pressure earlier on the week, but reversed higher, closing above key resistance level. Price is at elevated level which can influence price to begin trading sideways or experience some sort of retracement.

Spot Gold

Gold experienced some level of downside pressure but remains strong as price did not reach till short term support at 2625 region. However, price remains at elevated level where consolidation / retracement is due.

Trade Recap (Public Channel)

Gold (Analysis 45-1)

Prior week (Week 45) Take Profit - 2

High risk short at market reopening position reached Take Profit - 2 level where we announced to close / partial.

Trade Recap (Private Channel)

No Updates

Trade Analysis / Setups

EUR/CAD (Analysis 46-1)

Analysis: Price has been trading in consolidation for a while now. Next short term trend can be determined from the direction of breakout.

Long opportunity: Break and retest confirmation at 1.51639 region towards 1.53260 as Take Profit - 1 level.

Short oppportunity: Break and retest confirmation at 1.49122 region towards 1.47477 as Take Profit - 1 level.

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2024 Market Order Signal Accuracy Accuracy: 100% Wins: 14 Loss: 0

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

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