Market Update: BTCUSD & GOLD – June 26th, 2023
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
BTCUSD: Buying On Retracement Lower & After Price Action Setup At Or Around $26509 – $26925 Support Area
Comments: Price formed a Bearish Multiple Inside Bar + Pin Bar (Combination Setup) on Sunday, June 25th (We are not looking to trade this setup).
Price moved significantly higher from the Inside Bar Pattern that had formed on Sunday, June 18th.
Potential Trade Signal: We are looking to buy on a deep retracement lower and after a price action buy signal/setup, at or around the $26509 – $26925 short-term support area, which coincides with the recent Bullish Inside Bar Breakout that had triggered on Monday, June 19th.
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GOLD – XAUUSD: Selling On Retracement Higher & After Price Action Setup At Or Below $1973 – $1983 Resistance Area
Comments: Price formed a Bearish Long-Tailed Pin Bar Setup on Friday, June 23rd (We are not looking to trade this signal).
Price moved lower from the Small Bearish Pin Bar Signal that had formed on Friday, June 16th.
Potential Trade Signal: We are looking to sell on a retracement higher and after a price action sell signal/setup, at or just below the $1973 – $1983 short-term resistance area, which coincides with the recent Bearish Tailed Bar Signal that had formed on Tuesday, June 13th.
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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.
