Daily Market Update: GOLD & CRUDE OIL – Jan 23rd, 2025
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.
GOLD – XAUUSD: Buying On Retracement Lower To Within The Range Of Bullish Multiple Inside Bar + Pin Bar (Combination Setup)
Comments: Price exploded higher from the Bullish Multiple Inside Bar + Pin Bar (Combination Setup) that had formed on Monday, Jan 20th.
Price exploded higher from the recent Inside Bar Pattern that had formed on Friday, Jan 17th (We suggested buying on a breakout of this pattern in the Jan 20th weekly 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 + Pin Bar (Combination Setup) that had triggered on Tuesday, Jan 21st.
To Trade This Market With Our Preferred Broker, CLICK HERE
CRUDE OIL – WTI: Buying On Retracement Lower & After Price Action Signal At Or Around $$72.28 – $72.56 Support Area
Comments: Price formed an Inside Bar Pattern overnight (We are not considering trading this pattern).
Potential Trade Signal 1: We are waiting to see if the current Inside Bar Pattern turns into a Potential Bullish Fakeout Setup.
Potential Trade Signal 2: We are looking to buy on a deeper retracement lower and after a price action buy signal, at or around the $72.28 – $72.56 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
We will love to hear your Feedback!
To get access to our Premium Discord & Facebook Groups and get daily updates on 20+ markets – CLICK HERE
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.
