CRUDE OIL, GOLD & BITCOIN – May 23rd to 27th, 2022 » Learn To Trade The Market

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CRUDE OIL – Futures: Bullish Pin Bar Signal Triggered

Price Action: Price moved slightly higher from the Bullish Pin Bar Signal that had formed late last week (We suggested trading this signal in the May 20th, daily newsletter).

Price moved higher from the recent Bullish Pin Bar Signal that had formed over a week ago (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 prior Bullish Pin Bar Signal that had formed last Thursday, May 19th.

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.

GOLD – SPOT: Selling On A Retracement

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

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

Price moved significantly lower from the recent Bearish Pin Bar Signal that had formed just under the $1877 – $1895 short-term resistance area, over two weeks ago (We suggested trading this signal in the May 8th, weekly newsletter and hopefully some traders got on board).

Potential Trade Idea: We are considering selling on a retracement higher whilst price remains below the recent Bearish Pin Bar Signal that had formed just under the $1877 – $1895 short-term resistance area.

NOTE – You can trade Spot GOLD via the trading platform we use HERE.

BITCOIN (BTCUSD) – Cash: Inside Bar Pattern

(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 an Inside Bar Pattern overnight.

Price formed a Potential Bullish Multi-Bar Fakey Setup last Thursday (We did not consider trading this setup).

Price briefly moved higher from the Bullish Long-Tailed Pin Bar Signal that had formed over a week ago (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 1: For more aggressive traders, we are considering selling on a breakdown below the current Inside Bar Pattern.

Potential Trade Idea 2: We are considering waiting to see if the current Inside Bar Pattern turns into a Bearish Fakey Setup.

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

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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.