CRUDE OIL, BITCOIN & S&P500 – May 20th, 2022 » Learn To Trade The Market

Note On Charts: It’s important you are trading with a broker that offers True 5 Day New York Close Charts.

Note On Brokers: Download our Preferred Broker Platform with New York Close Charts Here.

CRUDE OIL – Futures: Bullish Pin Bar Signal

Price Action: Price formed a Bullish Pin Bar Signal overnight.

Price moved higher from the recent Bullish Pin Bar Signal that had formed late last week (We did not consider trading this signal).

Price moved higher from within the range of the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level over three weeks ago (We suggested trading the pullback to this signal in the May 1st, weekly newsletter and hopefully some traders got on board).

Potential Trade Idea 1: For more aggressive traders, we are considering buying on a retracement lower to within the range of the current Bullish Pin Bar Signal.

Potential Trade Idea 2: We are considering buying on a retracement lower whilst price remains above the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level.

NOTE – You can trade CRUDE OIL Futures via the trading platform we use HERE.

BITCOIN (BTCUSD) – Cash: Selling From Bearish Pin Bar Signal

(WARNING ON CRYPTO: TRADING BITCOIN AND CRYPTO IS HIGH RISK, CONSIDER A REDUCED POSITION SIZE AND LOWER LEVERAGE UNTIL YOU ARE FAMILIAR WITH THESE MARKETS).

Price Action: Price formed a Potential Bullish Multi-Bar Fakey Setup, overnight (We are not considering trading this setup).

Price briefly moved higher from the Bullish Long-Tailed Pin Bar Signal that had formed last Thursday (We did not consider trading this signal).

Price moved significantly lower (Almost $4500) from the Bearish Pin Bar Signal that had formed on Tuesday, May 10th (Before reversing up), (We suggested trading this signal in the May 11th, members daily newsletter).

Price significantly moved lower from the Multiple Inside Bar Pattern that had formed just above the $37559 prior short-term support level (Which is now a Key resistance level and an Event Area) around three weeks ago (We suggested trading this pattern in the April 29th, members daily newsletter).

Potential Trade Idea: We are considering selling on a retracement higher to within the range of the recent Bearish Pin Bar Signal that had formed just under the 31327 short-term resistance level on Tuesday, May 10th, until it fails on a closing basis.

NOTE – You can trade BITCOIN & CRYPTO CURRENCY via the trading platform we use HERE.

S & P 500 – Cash: Selling On A Retracement

Price Action: Price formed an ultra-small Bullish Pin Bar Signal overnight (We are not considering trading this signal).

The Bullish Pin Bar Signal that had formed late last week, failed (We did not consider trading this signal, nor did we mention it at the time it formed).

Potential Trade Idea 1: For more aggressive traders, we are considering selling on a retracement higher and/or after a price action sell signal on the 4 hour or daily chart time frame, at or just below the 4103 – 4139 short-term resistance area.

Potential Trade Idea 2: We are considering selling on a retracement higher and/or after a price action signal on the 4 hour or daily chart time frame, at or just below the 4309 – 4361 short-term resistance area.

NOTE – You can trade S&P 500 Cash via the trading platform we use HERE.

Join My Pro Trading Course & Trade Ideas Newsletter: visit the Membership Page Here.

Get The Correct Charts We Use: Download our Preferred Charting & Broker Platform Here.

Already A Member? Log In To Members Area Here.

Please Leave A Comment Below With Your Questions or Feedback.

Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.