EURUSD – SPOT: Selling On A Breakdown Below The Inside Bar Pattern
Price Action: Price formed a Bearish Inside Bar Pattern just under the 1.1120 – 1.1284 short-term resistance area, overnight.
Potential Trade Idea 1: For more aggressive traders, we are considering selling on a breakdown below the current Bearish Inside Bar Pattern, whilst price remains below the 1.1120 – 1.1284 short-term resistance area.
Potential Trade Idea 2: We are considering waiting to see if the current Inside Bar Pattern turns into a Bearish Fakey Setup, whilst price remains below the 1.1120 – 1.1284 short-term resistance area.
NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
GOLD – SPOT: Buying A Pullback
Price Action: Price formed an Inside Bar Pattern, overnight (We are not considering trading this pattern as we prefer to buy on a deeper pullback to lower support areas).
Price briefly moved higher from the recent Bullish Pin Bar Signal that had formed, mid-last week (We did not consider trading this signal, nor did we mention it at the time it formed).
Potential Trade Idea: We are still considering buying on a retracement lower and after a price action signal on a daily, 4 hourly, or 1 hourly chart, at or just above the $1853 – $1877 short-term support area.
NOTE – You can trade Spot GOLD via the trading platform we use HERE.
S&P500 – CASH: Selling A Pullback
Price Action: Price formed a Bullish Pin Bar Signal, overnight (We are not considering trading this signal as it had formed against the recent short-term Bearish trend and we prefer to sell on a deeper pullback to higher resistance areas).
Potential Trade Idea: We are still considering selling on a retracement higher and only after clear price action signal, whilst price remains below the 4581 – 4594 resistance area.
NOTE – You can trade S&P500 Cash 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.