Weekly Market Update: BTCUSD, GOLD & USDJPY – Nov 13TH, 2024
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
BTCUSD: Buying On Retracement Lower & After Price Action Signal Whilst Price Remains Above $73626 Support Level
Comments: Price exploded higher from the recent Inside Bar Pattern that had formed just above the $73626 short-term support level on Saturday, Nov 9th (We suggested buying on a breakout of this pattern on Sunday, Nov 10th market discussion in our Premium Trading Community).
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, whilst price remains above the $73626 short-term support level.
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD – SPOT: Buying On Retracement Lower & After Price Action Signal At Or Above $2602 Support Level
Comments: Price is now trading just above the $2602 short-term support level (As of this writing).
Price moved significantly lower from the recent Bearish Inside Bar + Pin Bar (Combination Setup) with a Giant Mother Bar that had formed on Friday, Nov 1st (We did not consider trading this setup).
Potential Trade Signal: We are looking to buy on a retracement lower and after a clear price action buy signal, at or just above the $2602 short-term support level.
To Trade This Market With Our Preferred Broker, CLICK HERE
USDJPY: Buying On Retracement Lower To Within The Range Of Bullish Multiple Inside Bar Breakout
Comments: Price moved slightly higher from within the range of the recent Bullish Multiple Inside Bar Breakout that had triggered on Monday, Oct 28th (We have been suggesting buying on a retracement lower into the range of this pattern since Tuesday, Oct 29th daily market newsletter and hopefully some traders got on board).
Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the recent Bullish Multiple Inside Bar Breakout that had triggered on Monday, Oct 28th.
Below is the orignal Trade Idea posted on Monday, Oct 28th.
Buy Limit: 153.18 – This Trade Active
Stop Loss: 150.90
Take Profit: 157.74
To Trade This Market With Our Preferred Broker, CLICK HERE
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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.
