GBPJPY – SPOT
Price Action: Price formed a Bullish Tailed Bar + Inside Bar Pattern (Combo Setup) just above the 156.06 short-term support level, late last week (We will consider this setup, despite there being some overhead resistance at 158.21).
There has been strong bullish momentum on the chart recently which could see prices break out further.
Idea: We are considering buying on a breakout above the Bullish Tailed Bar + Inside Bar Pattern (Combo Setup), whilst price holds above the 156.06 short-term support level.
NOTE – You can trade Spot GBPJPY via the trading platform we use HERE.
EURUSD – SPOT
Price Action: Price had moved higher from the Inside Bar Breakout pattern (Not trading this pattern as we are in a downtrend and there is an overhead short-term resistance range at 1.1383 – 1.1422 ). There is a large potential Multi Bar Bearish Fakey setup, just under that short-term resistance zone.
Idea: We are looking to sell on strength, whilst price holds below the 1.1383 – 1.1422 short-term resistance zone.
NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
CRUDE OIL – FUTURES
Price Action: Price had recently moved higher from the small bullish Pin Bar signal that had formed just above the $73.07 – $74.17 short-term support zone, early last week (We mentioned trading this signal in the January 6th Newsletter).
Idea: We are still considering buying on a pullback and/or after a price action buy signal, whilst price holds above the $73.07 – $74.17 short-term support zone.
NOTE – You can trade Crude Oil Futures 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.