GBPJPY – SPOT
The recent Bearish Fakey Setup, failed (We did not consider trading this setup and hopefully saved some members on this market).
Potential Trade Idea: We are considering buying if price pulls back to the current Inside Bar Breakout area.
NOTE – You can trade Spot GBPJPY via the trading platform we use HERE.
S&P 500 – Cash
Price Action: Price formed a Bearish Pin Bar Signal just under the 4581 – 4600 key resistance area, overnight (We suggested selling at or just under the 4581 – 4600 key resistance area blindly or after a price action sell signal in yesterday’s Members Newsletter),
Price recently 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 support area and the current Bearish momentum is very strong).
Potential Trade Idea: We are considering selling from the current Bearish Pin Bar Signal, whilst price remains under the 4581 – 4600 key resistance area.
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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.