Daily Market Update: GER40 & USDJPY – Jan 14th, 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.
GER40 – CASH: Buying On Retracement Lower To Within The Range Of Bullish Pin Bar Signal
Comments: Price formed a Bullish Long-Tailed Pin Bar Signal overnight.
Price moved slightly lower from the recent Bearish Pin + Inside Bar (Combination Setup) that had formed on Thursday, Jan 9th (We did not consider trading this pattern, nor did we mention it).
Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the current Bullish Long-Tailed Pin Bar Signal that had formed overnight.
Buy Limit: 20129
Stop Loss: 20000
Take Profit: 20516
Risk Reward: 1:3
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USDJPY: Staying On The Sidelines For Now
Comments: Price moved briefly lower from the recent Bearish Long-Tailed Pin Bar Signal that had formed on Friday, Jan 10th (We did not consider trading this signal).
Price moved briefly higher from the prior Bullish Fakeout + Pin Bar Setup that had formed on Monday, Jan 6th (We suggested buying on a retracement lower into the range of this setup in the Jan 7th daily newsletter, however, we are now considering manually closing this trade in profit (This trade is giving few pips in profit as of this writing), due to the conflicting signals.
Potential Trade Signal: We are looking to stay on the sidelines for now.
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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.
