EURUSD – SPOT
Price Action: Price recently broke down below the 1.1185 – 1.1225 short-term support area but later reconnected back above that support area.
Price recently moved down below the prior Bullish Pin Bar Signal that had formed, early last week (We did not consider trading that signal and hopefully saved some members on this market).
Potential Trade Idea: We are still considering selling into strength and after a price action sell signal, whilst price remains under the 1.1383 – 1.1422 short-term resistance area.
NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
S & P 500 – Cash
Price Action: Price moved higher from the Bullish Tailed Bar Signal that had formed just above the 4245 – 4270 key support area, late last week (We did not consider trading this signal as it had formed right after a collapse back below the prior 4494 – 4532 prior support area and the current Bearish momentum is very strong).
The recent Bearish Fakey Setup, failed (We did not consider trading this Setup and hopefully saved some members on this market).
Potential Trade Idea 2: We are considering selling into strength and only after a clear price action sell signal on a 4 hour or daily chart timeframe, at or just under the 4484 – 4494 short-term resistance area.
NOTE – You can trade S&P 500 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.