Market Update: ETHUSD, GOLD & AUS200 – Oct 8TH, 2024
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
ETHUSD: Buying On Retracement Lower To Within The Range Of The Current Bearish Pin Bar Signal
Comments: Price formed a Long-Tailed Bearish Pin Bar Signal overnight.
Price moved slightly higher from the recent Inside Bar Pattern with a Giant Mother Bar, that had formed on Saturday, Oct 5th (We did not consider trading this pattern, nor did we mention it).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the current Long-Tailed Bearish Pin Bar Signal that had formed overnight.
Sell Limit: $2470
Stop Loss: $2535
Take Profit: $22340
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD: Buying On A Breakout Of The Current Multiple Inside Bar Pattern
Comments: Price has been forming a Multiple Inside Bar Pattern since Thursday, Oct 3rd (We have been suggesting buying the breakout of this pattern since last week).
Potential Trade Signal 1: For more aggressive traders, we are looking to buy on a breakout of the current Multiple Inside Bar Pattern that has been forming since Thursday, Oct 3rd
Buy Stop: $2675
Stop Loss: $2630
Take Profit: $2765
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 $2531 – $2546 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
AUS200: Buying On Retracement Lower To Within The Range Of The Current Bullish Pin Bar Signal
Comments: Price moved briefly higher from within the range of the recent Bullish Pin Bar Signal that had formed just above the 8101 – 8165 short-term support area on Friday, Oct 4th (We suggested buying on a retracement lower to within the range of this signal in yesterday’s members newsletter).
Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the current Bullish Pin Bar signal that had formed just above the 8101 – 8165 short-term support area on Friday, Oct 4th.
Buy Limit: 8150 – Pending Orders Placed
Stop Loss: 8080
Take Profit: 8290
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.
