Market Update: BTCUSD & GOLD – Sep 22nd, 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 Around $28136 – $28637 Resistance Area
Comments: Price moved slightly lower from the Inside Bar Pattern that had formed on Wednesday, Sep 20th (We did not consider trading this pattern, nor did we mention it).
Price just tickled above the recent Bearish Pin Bar Setup, before reversing back down that had formed on Monday, September 18th.
Potential Trade Signal 1: We are looking to buy on a retracement lower and after a price action buy signal/setup, at or just above the $24895 – $25334 short-term support area.
Potential Trade Signal 2: We are looking to sell on a retracement higher and after a clear price action sell signal/setup, at or around the $28136 – $28637 short-term resistance area.
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD: Selling On A Retracement Higher Into The Range Of Bearish Long-Tailed Pin Bar Setup
Comments: Price moved slightly lower from the Bearish Long-Tailed Pin Bar Setup that had formed just below the $1947 – $1952 short-term resistance area on Wednesday, September 20th (We suggested selling on a retracement higher into the range of this setup in the September 21st members daily newsletter).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the current Bearish Long-Tailed Pin Bar Setup that had formed on Wednesday, Sep 20th (Sell limit: $1938-40 & Stop: $1960).
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.
