USDJPY – SPOT: Waiting For A Retracement To Rejoin Up Trend
Price Action: Price briefly moved below the recent Multiple Inside Bar Pattern that had formed late last week (We are not considering trading this pattern).
Price moved significantly higher from the prior Bullish Inside Bar + ultra-small Pin Bar (Combo Setup) that had formed just above the 125 short-term support level, over two weeks ago (We suggested trading this pattern in the April 13th, members daily newsletter).
Potential Trade Idea: We are considering buying on a retracement lower to within the range of the prior Bullish Inside Bar + ultra-small Pin Bar (Combo Setup).
NOTE – You can trade Spot USDJPY via the trading platform we use HERE.
S & P 500 – Cash: Waiting For A Pullback To Resistance Area
Price Action: The recent Bullish Pin Bar Signal that had formed earlier this week, failed (We did not consider trading this signal).
Potential Trade Idea: We are considering selling on a retracement higher and after a clear price action signal on the 4 hour or daily chart time frame, whilst price remains below the 4361 – 4421 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.