USDJPY, CRUDE OIL & BITCOIN – August 24th, 2022 » Learn To Trade The Market

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USDJPY – SPOT: Buying On Retracement Whilst Above Bullish Pin Bar Signal

Price Action: Price formed a Bullish Pin Bar Signal overnight (We are not considering trading this signal).

Price moved higher from within the range of the recent Bullish Tailed Bar Signal that had formed just above the 131.49 short-term support level on Tuesday, August 2nd. (We have been suggesting trading this signal in since the August 3rd daily newsletter and hopefully, some traders got on board).

Potential Trade Idea 1: We are considering buying on a retracement lower whilst price remains above the prior Bullish Pin Bar Signal that had formed on Thursday, August 11th (Currently Active).

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 131.49 short-term support level on Tuesday, August 2nd (Currently Active).

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

CRUDE OIL – FUTURES: Selling On Retracement Whilst Under Bearish Long-Tailed Pin Bar Signal

Price Action: Price moved higher from the Bullish Pin Bar Signal that had formed earlier this week (We did not consider trading this signal).

Price moved lower from the recent Bearish Long-Tailed Pin Bar Signal that had formed just under the $101.00 short-term resistance level, on Friday July 29th (We did not consider trading this signal).

Potential Trade Idea: We are considering selling on a retracement whilst price remains below the recent Bearish Long-Tailed Pin Bar Signal that had formed just under the $101.00 short-term resistance level, on Friday July 29th.

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

BITCOIN (BTCUSD) – Cash: Selling On Retracement Whilst Under 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 Bullish Pin Bar Signal overnight (We are not considering trading this signal).

Price exploded lower from the recent Bearish Pin Bar Signal that had formed just under the $25339 key resistance level, on Monday, August 15th (We suggested trading on a retracement higher into the range of this signal in the August 17th, members’ daily newsletter).

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 $25339 key resistance level, on Monday, August 15th.

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.