Market Update: AUS200 & GOLD – Oct 9th, 2024
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
AUS200: Buying On Retracement Lower To Within The Range Of Bullish Pin Bar Signal
Comments: Price moved briefly higher from within the range of the recent Bullish Pin Bar Signal that had formed just above the 8102 – 8166 short-term support area on Friday, Oct 4th (We suggested buying on a retracement lower to within the range of this signal in the Yesterday’s market newsletter).
Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the recent Bullish Pin Bar signal that had formed just above the 8102 – 8166 short-term support area on Friday, Oct 4th.
Buy Limit: 8150 – Pending Orders Placed
Stop Loss: 8080
Take Profit: 8290
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GOLD: Buying On A Retracement Lower & After Price Action Signal At Or Around $2532 – $2546 Support Area
Comments: Price moved lower from the recent Multiple Inside Bar Pattern that had been forming since Thursday, Oct 3rd (We have been suggesting buying the break above the high of this pattern since last week in the recent market newsletters, However, price broke down below the low of this Pattern).
Potential Trade Signal: We are looking to buy on a deeper retracement lower and after a price action buy signal, at or around the $2532 – $2546 short-term support area, which coincides with the prior Bullish Inside Bar Breakout that occurred on Friday, Sep 20th.
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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.
