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EURUSD – SPOT: Selling On Retracement To Within The 50% Range Of Bearish Fakey + Long-Tailed Pin Bar Setup
Price Action: Price formed a Bearish Fakey + Long-Tailed Pin Bar Setup overnight.
Price exploded higher from the Giant Bullish Fakey Setup that had formed late last week (We did not consider trading this setup, as given its huge size, it would have been hard to manage risk-reward).
Potential Trade Idea: We are considering selling on a retracement higher to within the 50% range of the current Bearish Fakey + Long-Tailed Pin Bar Setup.
NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
USDJPY – SPOT: Buying On Retracement To Within The Range Of Bullish Fakey + Pin Bar Setup
Price Action: Price formed a Bullish Fakey + Pin Bar Setup overnight.
Price moved significantly lower from the recent Multiple Inside Bar Pattern that had formed on Wednesday, Oct 26th (We did not consider trading this pattern, nor did we mention it at the time it formed).
Potential Trade Idea: We are considering buying on a minor retracement lower to within the range of the current Bullish Fakey + Pin Bar Setup.
NOTE – You can trade Spot USDJPY via the trading platform we use HERE.
GOLD – SPOT: Buying On Retracement And After Price Action Signal Whilst Above $1680 – $1688 Support Area
Price Action: Price moved slightly higher from the Small Bullish Tailed Bar Signal that had formed earlier this week (We are not considering trading this signal).
Price exploded higher from the Inside Bar Pattern with the wider Mother Bar, that had formed early last week (We did not consider trading this pattern, nor did we mention it at the time it formed).
Potential Trade Idea: We are considering buying on a deep retracement lower and after a price action signal on a daily chart time frame, whilst price remains above the $1680 – $1688 short-term support area, which coincides with the recent Inside Bar Breakout that had triggered early last week.
NOTE – You can trade Spot GOLD 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.