Market Update: ETHUSD, USDJPY & AUS200 – Oct 22nd, 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 To Within The Range Of Bearish Pin Bar Signal
Comments: Price formed a Bearish Pin Bar Signal just below the $2698 – $2723 short-term resistance area overnight.
Potential Trade Signal 1: We are looking to sell on a retracement higher to within the range of the current Bearish Pin Bar Signal that had formed overnight.
Sell Limit: $2710
Stop Loss: $2780
Take Profit: $2570
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 $2246 – $2325 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
USDJPY: Buying On Retracement Lower To Within The Range Of Bullish Inside Bar Breakout
Comments: Price formed a Bullish Multi-Bar Fakeout Setup overnight (We are not considering trading this setup).
Price exploded higher from the recent Inside Bar Pattern that had formed on Wednesday, Oct 16th (We suggested buying the breakout of this Pattern on Thursday, Oct 17th daily newsletter, and hopefully some traders got on board).
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 Thursday, Oct 17th.
Below given is the Original Trade Ideas posted Thursday, Oct 17th.
Buy Stop: 149.84
Stop Loss: 148.80
Take Profit: 152.00
To Trade This Market With Our Preferred Broker, CLICK HERE
AUS200 – Cash: Buying On Retracement Lower & After Price Action Signal At Or Above 8106 – 8166 Support Area
Comments: The Bullish Pin Bar Signal that had formed just above the 8290 short-term support level on Friday, Oct 18th has now failed (We suggested buying on a retracement lower into the range of this setup on Monday, Oct 21st daily newsletter).
Potential Trade Signal: We are looking to buy on a retracement lower and after a clear price action buy signal, at or just above the 8106 – 8166 short-term support area.
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.
