Market Update: USDJPY & CRUDE OIL – May 17th, 2023
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
USDJPY: Buying On Retracement & After Price Action Setup At Or Above 135.14 Support level
Comments: Price moved higher from within the range of the Bullish Pin Bar Signal that had formed just above the 133 – 133.77 short-term support area on Thursday, May 4th (We suggested buying on a retracement lower into the range of this signal in the May 5th, members daily newsletter).
Potential Trade Signal: We are considering buying on a retracement lower and after a price action buy signal, at or just above the 135.14 short-term support level.
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CRUDE OIL – WTI: Buying On Retracement Lower Into The Range Of Bullish Long-Tailed Pin Bar Setup
Comments: Price moved higher from the Bullish Long-Tailed Pin Bar Signal that had formed just above the $64.39 – $66.89 short-term support area on Thursday, May 4th (We suggested buying on a retracement lower into the range of this signal in the May 5th members daily newsletter).
Potential Trade Signal: We are considering buying on a retracement lower into the range of the recent Bullish Long-Tailed Pin Bar Signal that had formed on Thursday, May 4th (Buy limit: $66.90 & Stop: $63.70).
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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.
