GOLD, CRUDE OIL & GBPJPY, Oct 31st – Nov 4th, 2022 » Learn To Trade The Market

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GOLD – SPOT: Selling On Retracement And After Price Action Signal Below $1680 – $1688 Resistance Area

Price Action: Price moved lower from the Inside Bar Pattern that had formed late last week (We did not consider trading this pattern).

Price moved lower from the Bearish Pin Bar + Inside Bar (Combo Setup) that had formed just below the $1680 – $1688 short-term resistance area on Wednesday, Oct 12th (We suggested selling on a breakdown of this setup in the Oct 13th, members daily newsletter)

Potential Trade Idea: We are considering selling on a retracement higher and after a price action sell signal, at or just below the $1680 – $1688 short-term resistance area, which coincides with the recent Bearish Pin Bar + Inside Bar (Combo Setup) that had triggered on Thursday, Oct 13th (Currently Active).

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

CRUDE OIL – FUTURES: Buying On Retracement And After Price Action Signal Above $81.28 Support Level

Price Action: Price formed a Small Bullish Pin Bar Signal late last week (We are not considering trading this signal).

Price moved higher from the prior Bullish Pin Bar Signal that had formed on Tuesday, Oct 25th (We did not consider trading this signal, nor did we mention it).

Price moved higher from the recent Bullish Pin Bar Signal that had formed just above the $81.28 short-term support level (Minor Event Area), on Monday, Oct 24th (We did not consider trading this signal).

This market is bullish above the $81.28 short-term support level.

Potential Trade Idea: We are considering buying on a retracement lower and after a price action signal, at or just above the $81.28 short-term support level (Minor Event Area), which coincides with the recent Bullish Pin Bar Signal that had formed on Monday, Oct 24th.

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

GBPJPY – SPOT: Buying On Retracement Into The Range Of Bullish Fakey + Tailed Bar Setup

Price Action: Price moved higher from the recent Bullish Multi-Bar Fakey + Tailed Bar Setup that had formed on Friday, Oct 21st (We suggested buying on a breakout of the Mother Bar high from this setup in Oct 24th, members weekly newsletter).

Potential Trade Idea: We are considering buying on a retracement lower to within the range of the most recent Bullish Fakey + Tailed Bar Setup that had formed on Friday, Oct 21st.

NOTE – You can trade Spot GBPJPY 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.