Daily Market Update: GOLD & ETHUSD – Apr 8th, 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 – SPOT: Buying On Retracement Lower & After Price Action Signal At Or Within The $2831 – $2880 Support Area
Comments: Price formed a Giant Bearish Long-Tailed Pin Bar Signal overnight (We are not considering trading this signal).
Potential Trade Signal: We are now looking to buy on a deeper retracement lower and after a clear price action buy signal, at or within the $2831 – $2880 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
ETHUSD – Ethereum: Selling On Retracement Higher & After Price Action Signal At Or Within The $1956 – $2101 Resistance Area
Comments: Price formed a Bullish Long-Tailed Pin Bar Signal overnight (We are not considering trading this signal).
Price moved significantly lower from the recent Multiple Inside Bar Pattern that had formed late last week (We suggested selling on a breakdown of this pattern in the recent members daily live stream).
Potential Trade Signal: We are looking to sell on a deeper retracement higher and after a price action sell signal, at or within the $1956 – $2101 short-term resistance area.
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.
