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Trade Ideas

Disclaimer: The views on the posts and charts are for educational and illustration purpose only, as past performance is not necessarily indicative of future performance. They are provided for general information only and therefore should not be taken as any offer or solicitation to do any investment or trade.

Note: Non-Members are strongly recommended to sign up for the online free course to have a better understanding of the setups as discussed below:

Forex and Index CFD Trade Ideas & Chart Analysis (24 – 28 Feb 20 )

By Hector in Trade Ideas on 23 February 2020

1.(Indonesia Index USD1 CFD)

 

 

 

Big Picture – Bearish

Resistance : 7,130    Support : 6,680, 6,410

One Good Trade Idea

The uptrend support blue line that began in May 2019 is now back in focus. It rebounded from this support on 3 Feb but only up to a lower high at  7,130. If it breaks below this trendline, it will expose the next support at 6.680. Traders may look out for a price action sell signal if it breaks  below the trendline .


2.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Slightly Bearish

Resistance : 3,231, 3.285    Support : 3,144, 3068

One Good Trade Idea

The bias is slightly bearish as we see price actions retreating lower from the resistance at 3,231. It may heads towards the support zone between 3,144 and 3,112. Traders may adopt a range strategy to long between 3,144 to 3,068 and short in the resistance zone between 3,231 to 3,285.

 

3.(US Tech 100 Index USD5 CFD)

 

 

Big Picture – Bullish

Resistance : 9,752    Support : 9,274, 8,916

One Good Trade Idea

The uptrend in US tech index is still intact. After reaching a high of 9,752, it pulled back lower towards the end of the week. Traders may wait for a pullback lower into the support near 9,274 to buy. It may go lower to 8,916 if the pullback is deeper. Be patient and wait for the opportunity to long with a price action signal. Target move is the resistance at 9,752.

 

4.(GBPJPY)

 

 

 

Big Picture – Bullish

Resistance : 147.94    Support : 140.74

One Good Trade Idea

The trend is likely to resume higher after the break of the downtrend line. Traders may look for pockets of weakness to enter long with a price action buy signal. The next next resistance is near 147.94

 

5.(NZDUSD)

 

 

Big Picture – Bearish

Resistance : 0.6465    Support : 0.6321, 0.6202

One Good Trade Idea

The weakness in NZD continues with the first target reached at 0.6321 after the uptrend breakdown near 0.6544.Price may bounced up from this support and the first pullback that traders may look to sell will be the 20EMA resistance. Look out for price action sell signal there for the downtrend to resume.

 

6.(XAUUSD)

 

 

Big Picture – Bullish

Resistance : 1697   Support : 1611

One Good Trade Idea

The uptrend in gold continues with price reaching a new high last week since Feb 2013. With the coronavirus outbreak, the bulls in gold may be positioning for further rates cut from the Federal Reserve. Traders may look to buy near support at 1,611 for a target move towards 1,697.

 

Happy Trading!
One Good Trade

 

Note:
To trade Index CFD, you may open a CFD Account with Phillip Securities under Hector (XL) as your preferred Trading Representative.
To trade Forex, you may first open a MT5 Demo Account under Phillip Futures A/c No (If any) : Hector (VXL)

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