Market Update: USDJPY & GOLD – Nov 6TH, 2024
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 Lower To Within The Range Of Bullish Multiple Inside Bar Breakout
Comments: Price exploded higher from within the range of the most recent Bullish Multiple Inside Bar Breakout that had triggered on Monday, Oct 28th (We have been suggesting buying on a retracement lower into the range of this pattern since Oct 28th 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 most recent Bullish Multiple Inside Bar Breakout that had triggered on Monday, Oct 28th.
Below is the orignal Trade Idea posted on Monday, Oct 28th.
Buy Limit: 153.18 – This Trade Active
Stop Loss: 150.90
Take Profit: 157.74
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD – SPOT: Buying On Retracement Lower & After Price Action Signal At Or Above $2685 Support Level
Comments: Price moved briefly lower from the recent Bearish Inside Bar + Pin Bar (Combination Setup) with a Giant Mother Bar that had formed on Friday, Nov 1st (We did not consider trading this setup).
The prior Bullish Multiple Inside Bar + Pin Bar (Combination Setup) that had formed on Friday, Oct 25th has now been invalidated (We suggested buying the breakout of this setup in Oct 28th daily newsletter).
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the $2685 short-term support level.
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.
