Market Update: BTCUSD, EURUSD & GBPJPY – August 24th, 2023

NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.

BTCUSD: Selling On A Retracement Higher & After Price Action Setup/Signal At Or Below $28436 – $28534 Resistance Area

Comments: Price formed a Giant Bullish Multi-Bar Fakeout Setup on Wednesday, August 23rd (We are not looking to trade this setup as given its huge size, it would be hard to make sense in terms of risk-reward).

Potential Trade Signal: We are looking to sell on a retracement higher and after a clear price action sell setup/signal, at or around the $28436 – $28534 short-term resistance area.

To Trade This Market With Our Preferred Broker, CLICK HERE

EURUSD: Buying On A Retracement Lower Into The Range Of Bullish Pin Bar Setup

Comments: Price formed a Bullish Pin Bar Setup just above the 1.0832 short-term support level on Wednesday, August 23rd.

Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the current Bullish Pin Bar Setup, with stops below the low of this Pin Bar.

To Trade This Market With Our Preferred Broker, CLICK HERE

GBPJPY: Buying On A Retracement Lower Into The Range Of Bullish Inside Bar Breakout

Comments: Price moved higher from the Inside Bar Pattern that had formed on Friday, August 11th (We suggested buying on a breakout of this pattern in the August 14th members daily newsletter).

Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the recent Bullish Inside Bar Breakout that had triggered on Monday, August 14th, with stops below the low of the Mother Bar.

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.