Daily Market Update: S&P500 & USDJPY – Nov 29TH, 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.
S&P500 – CASH: Buying On A Breakout Of The Current Inside Bar Pattern
Comments: Price formed an Inside Bar Pattern overnight.
Price moved briefly higher from the recent 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).
Potential Trade Signal 1: We are looking to buy on break above the high of the current Inside Bar Pattern.
Buy Stop: 6038
Stop Loss: 5985
Take Profit: 6144
Potential Trade Signal 2: Below given is the previous 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
USDJPY: Waiting To See If Current Inside Bar Pattern Turns Into A Potential Bullish Fakeout Setup
Comments: Price formed an Inside Bar Pattern overnight (We are not considering trading this pattern).
Potential Trade Signal: We are looking to see if the current Inside Bar Pattern turns into a Potential Bullish Fakeout Setup.
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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.
