Market Update: ETHUSD & CRUDE OIL – Oct 24th, 2024
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
ETHUSD: Selling On Retracement Higher & After Price Action Signal At Or Around $2723 – $2816 Resistance Area
Comments: Price moved significantly lower from the recent Bearish Pin Bar Signal that had formed just below the $2723 – $2816 short-term resistance area on Monday, Oct 21st (We suggested selling on a retracement higher into the range of this signal on Tuesday, Oct 22nd daily market newsletter, However, price did’t fill our sell limit orders).
Potential Trade Signal 1: We are looking to sell on a deeper retracement higher and after a price action sell signal, at or around the $2723 – $2816 short-term resistance area.
Potential Trade Signal 2: We are looking to buy on a deeper retracement lower and after a price action buy signal, at or around the $2305 – $2325 short-term support area.
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CRUDE OIL – WTI: Buying On Retracement Lower & After Price Action Signal At Or Within $66.13 – $68.13 Support Area
Comments: Price formed a Bullish Inside Bar + Pin Bar (Combination Setup) overnight (We are not considering trading this setup).
Price moved slightly higher from the recent Inside Bar Pattern that had formed on Monday, Oct 21st (We did not consider trading this pattern, nor did we mention it).
Potential Trade Signal: We are looking to buy on a retracement lower and after a clear price action buy signal, at or within the $66.13 – $68.13 short-term support area, which coincides with the recent Bullish Fakeout + Giant Tailed Bar Setup that had triggered on Wednesday, Oct 2nd.
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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.
