EURUSD – SPOT: Bearish Fakey Setup
Potential Trade Idea: We are considering selling from the current Bearish Multi-Bar Fakey + Pin Bar Signal.
NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
AUDUSD – SPOT: Bearish Fakey Setup Triggered
Price Action: Price exploded lower from the recent Bearish Multi-Bar Fakey Setup that had formed late last week (We suggested trading this signal in the April 22nd, members’ daily newsletter).
Potential Trade Idea: We are considering selling on a retracement higher to within the range of the recent Bearish Multi-Bar Fakey Setup.
NOTE – You can trade Spot AUDUSD via the trading platform we use HERE.
BITCOIN (BTCUSD) – CASH: Potential Breakdown From The Inside Bar Pattern
(WARNING ON CRYPTO: TRADING BITCOIN AND CRYPTO IS HIGH RISK, CONSIDER A REDUCED POSITION SIZE AND LOWER LEVERAGE UNTIL YOU ARE FAMILIAR WITH THESE MARKETS).
Price Action: Price formed an Inside Bar Pattern, overnight.
Price briefly moved lower from the recent Bearish Pin Bar Signal that had formed just under the 42608 short-term resistance level late last week (We suggested trading this signal in the April 22nd, members’ daily newsletter).
Price briefly moved higher before reversing from the recent Bullish Multi-Bar Fakey + Tailed Bar Setup that had formed early last week (We did not consider trading this setup).
Potential Trade Idea 1: For more aggressive traders, we are considering selling on a breakdown below the current Inside Bar Pattern.
Potential Trade Idea 2: We are considering selling on a retracement higher to within the range of the recent Bearish Pin Bar Signal.
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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.