GOLD – SPOT: Potential Multi-Bar Bullish Fakey Setup
Price Action: Price formed a potential Multi-Bar Bullish Fakey Setup, overnight.
Price briefly moved higher from the recent Bullish Pin Bar Signal that had formed, mid-last week
Potential Trade Idea 1: For more aggressive traders, we are considering buying on a breakout above the current potential Multi-Bar Bullish Fakey Setup, with risk management below the Fakey Bar.
Potential Trade Idea 2: 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.
EURUSD – Spot: Selling After A Pullback To Resistance Area
Price Action: Price formed a Bullish Fakey Setup + Pin Bar Signal, overnight (We are not considering trading this setup as it had formed against the recent short-term Bearish trend and just under a resistance area).
Potential Trade Idea: We are now considering selling on a retracement higher and after a price action signal, within the 1.1120 – 1.1284 short-term 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.