Daily Market Update: BTCUSD & S&P500 – Dec 5TH, 2024
NOTE: This market newsletter is based on analysis conducted using the daily chart timeframe. Each market discussed is accompanied by a corresponding price chart for clarity and reference.
BITCOIN – BTCUSD: Buying On Retracement Lower & After Price Action Signal At Or Above $90770 – $93481 Support Area
Comments: Price exploded higher from the recent Small Bullish Pin Bar Signal (and posted a new all time historic high) that had formed on Tuesday, Dec 3rd (We suggested buying on a retracement lower into the range of this signal in the Dec 4th daily members newsletter).
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the $90770 – $93481 short-term support area
To Trade This Market With Our Preferred Broker, CLICK HERE
S&P500 – CASH: Buying On Retracement Lower To Within The Range Of Bullish Inside Bar Breakout
Comments: Price moved slightly higher from the most recent Small Bullish Pin Bar Signal that had formed on Monday, Dec 2nd (We did not consider trading this signal, nor did we mention it).
Price moved higher from the recent Inside Bar Pattern that had formed on Thursday, Nov 28th (We suggested buying on a breakout of this pattern in the Friday, Nov 29th daily market newsletter and hopefully some traders got on board).
Price moved higher from the prior Bullish Pin Bar Signal that had formed on Tuesday, Nov 26th (We suggested buying on a retracement lower into the range of this signal in the Nov 27th daily newsletter and hopefully some traders got on board).
Potential Trade Signal 1: We are looking to buy on a retracement lower to within the range of the recent Bullish Inside Bar Breakout that had triggered on Friday, Nov 29th.
Below is the actual signal posted in the Nov 29th daily market newsletter
Buy Stop: 6038 – This Trade is Active
Stop Loss: 5985
Take Profit: 6144
Potential Trade Signal 2: We are looking to buy on a retracement lower to within the range of the prior Bullish Pin Bar Signal that had formed on Tuesday, Nov 26th.
Below is the actual signal posted in the Nov 27th daily newsletter.
Buy Limit: 6000 – This Trade is Active
Stop Loss: 5950
Take Profit: 6150
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.
