Daily Market Update: AUDUSD & GOLD – Jan 9th, 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.
AUDUSD: Selling On Retracement Higher To Within The Range Of Double Bearish Pin Bar + Inside Bar (Combination Setup)
Comments: Price formed a Double Bearish Pin Bar + Inside Bar (Combination Setup) just below the 0.6275 short-term resistance level on Tuesday, Jan 7th (We suggested selling on a retracement higher into the range of this signal in the Jan 8th members daily newsletter).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the recent Double Bearish Pin Bar + Inside Bar (Combination Setup) that had triggered on Wednesday, Jan 8th, with stops above the high of the Mother Bar.
Sell Limit: 0.6255
Stop Loss: 0.6310
Take Profit: 0.6145
Risk Reward: 1:2
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD – XAUUSD: Buying On Retracement Lower To Within The Range Of Bullish Pin Bar Signal
Comments: The Bearish Tailed Bar Signal that had formed on Tuesday, Jan 7th failed (We did not consider trading this signal nor did we mention it).
Price moved higher from the recent Bullish Long-Tailed Pin Bar Signal that had formed on Monday, Jan 6th (We did not consider trading this signal nor did we mention it).
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 on Monday, Jan 6th.
Buy Limit: $2632
Stop Loss: $2610
Take Profit: $2698
Risk Reward: 1:3
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.
