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GOLD – SPOT: Selling Whilst Under Prior Bearish Pin Bar Signal
Price moved briefly higher from the recent 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).
Potential Trade Idea: We are considering selling on a retracement higher whilst price remains under the Bearish Pin Bar Signal that had formed late last week.
NOTE – You can trade Spot GOLD via the trading platform we use HERE.
USDJPY – SPOT: Buying On Retrace To Prior Bullish Pin Bar Signal
Price Action: Price formed a small Bullish Pin Bar Signal overnight (We are not considering trading this signal).
Price moved slightly higher from the prior Bullish Pin Bar Signal that had formed late last week (We suggested trading this signal in the August 15 weekly newsletter).
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 trading on a retracement lower into the range of this signal in the August 8th weekly newsletter).
Potential Trade Idea 1: We are considering buying on a retracement lower to within the range of the prior Bullish Pin Bar Signal that had formed late last week (Currently Active).
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).
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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.