GBPUSD, USDJPY & BITCOIN – June 28Th, 2022 » Learn To Trade The Market

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GBPUSD – SPOT: Buying From The Bullish Fakey + Pin Bar Setup

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

The prior ultra-small Bearish Pin Bar Signal that had formed late last week failed (We did not consider trading this signal).

Price moved briefly higher from the recent two consecutive Bullish Pin Bars + Inside Bar (Combo Setup) that had formed mid-last week (We suggested trading the breakout of this Setup in the June 27th, weekly newsletter).

Price formed a Bullish Fakey + Pin Bar Setup (Yet to Trigger) early last week (We did not consider trading this setup).

Potential Trade Idea 1: For more aggressive traders, we are considering buying on a breakout above the Mother Bar high from the current Bullish Fakey + Pin Bar Setup (Although this Setup is against the dominant Bearish trend, however, it had formed right at the 1.2155 Key Support level and is hard to ignore).

Potential Trade Idea 2: We are considering selling on a retracement higher and after a price action sell signal whilst price remains below the 1.2666 key resistance area (Event Area).

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

USDJPY – SPOT: Buying Breakout Of The Bullish Multi-Bar Fakey Setup

Price Action: Price formed a Multiple Inside Bar + ultra-small Bullish Pin Bar (Combo Setup) overnight.

Price formed a Potential Bullish Multi-Bar Fakey Setup (Yet to trigger), mid-last week (This Setup will trigger only if price breaks out above the Mother Bar high).

Potential Trade Idea 1: For more aggressive traders, we are considering buying on a breakout above the Mother Bar high from the current Potential Bullish Multi-Bar Fakey Setup.

Potential Trade Idea 2: We are considering buying on a retracement lower and after a price action buy signal, at or around the 131.35 short-term support level.

NOTE – You can trade Spot USDJPY 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 Bearish Pin Bar Signal overnight.

The prior Bearish Pin Bar Signal that had formed early last week failed (We did not consider trading this signal).

Price moved briefly lower from within the range of the recent Bearish Inside Bar + ultra-small Pin Bar (Combo Setup) that had formed last Friday, June 17th (We have been considering selling the pullback to this setup since June 20th, weekly newsletter, but we are still waiting for price to move substantially lower from this setup).

Potential Trade Idea 1: For more aggressive traders, we are considering selling from the current Bearish Pin Bar Signal.

Potential Trade Idea 2: We are considering selling on a retracement higher to within the range of the recent Bearish Inside Bar + ultra-small Pin Bar (Combo Setup) that had formed last Friday, June 17th.

Potential Trade Idea 3: We are considering selling on a retracement higher and only after a price action signal, whilst price remains below the $25339 short-term resistance level.

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.