EURUSD – SPOT
Price Action: Price moved down below the recent Bullish Pin Bar Signal that had formed just above the 1.1284 prior short-term support level, early last week (We did not consider trading that signal and hopefully saved some members on this market).
Price broke and closed under the 1.1185 – 1.1225 prior short-term support area.
Potential Trade Idea: We are considering selling into strength and after a price action sell signal, whilst price remains under the 1.1383 – 1.1422 short-term resistance area.
NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
GBPUSD – SPOT
The recent Bullish Pin Bar Signal, failed.
Potential Trade Idea 1: For more aggressive traders, we are considering selling on a breakdown below the current Inside Bar Pattern + Bearish Tailed Bar Signal (Combo Setup), with tight risk management.
Potential Trade Idea 2: We are still considering selling if price pulls back to the recent Bearish Multiple Inside Bar Pattern + Pin Bar Signal (Combo Setup) breakdown area, whilst price remains under the 1.3667 – 1.3739 short-term resistance area.
NOTE – You can trade Spot GBPUSD via the trading platform we use HERE.
GOLD – SPOT
Price Action: Price formed a Bullish Tailed Bar Signal just above the $1782 short-term support level, late last week (We are not considering trading this signal as we prefer to buy on a deeper retrace to the key support areas).
Price moved down below the Bullish Tailed Bar Signal that had formed, early last week (We did not consider trading that signal and hopefully saved some members on this market – discussed in the January 26th Newsletter).
Price recently collapsed back below the $1831 prior short-term support level. Overall we are in a broader sideways range with no clear direction – zoom out to see.
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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.