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USDJPY – SPOT: Buying From Bullish Pin Bar Signal
Price Action: Price formed a Bullish Pin Bar Signal late last week.
Price moved lower from the Inside Bar Pattern that had formed early last week (We did not consider trading this pattern).
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 suggested buying on a retracement lower to within the range of this signal in the August 10th daily newsletter).
Potential Trade Idea 1: We are considering buying from the current Bullish Pin Bar Signal.
Potential Trade Idea 2: We are considering buying on a retracement lower to 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 (Currently Active).
NOTE – You can trade Spot USDJPY via the trading platform we use HERE.
Price Action: Price formed a Multiple Inside Bar Pattern late last week (We are not considering trading this pattern).
Price moved higher from the Multiple Inside Bar Pattern that had formed early last week (We did not consider trading this pattern, nor did we mention it at the time it formed).
Price moved lower from within the range of the recent Inside Bar Pattern that had formed on Monday, July 4th (This is not a Bullish Pin Bar + Inside Bar (Combo Setup) as it is counter-trend), (We have been suggesting selling on a retracement higher into this Breakout Pattern since July 11th weekly newsletter).
Potential Trade Idea 1: We are considering waiting to see if the current Multiple Inside Bar Pattern turns into a Potential Bearish Fakey Setup.
Potential Trade Idea 2: We are considering selling on a retracement higher to within the range of the recent Inside Bar Breakout, which occurred around 1.0349 short-term resistance level, on Monday, July 4th.
NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
Price Action: Price formed an Inside Bar Pattern late last week (We are not considering trading this pattern).
Price moved higher from the prior Inside Bar Pattern that had formed early last week (We did not consider trading this pattern, nor did we mention it).
Potential Trade Idea: We are considering selling on a retracement higher and after a price action signal, at or just under the 0.7264 – 0.7282 key resistance area.
NOTE – You can trade Spot AUDUSD 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.
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