Market Update: USDJPY & S&P500 – Nov 20TH, 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 Pin Bar Signal
Comments: Price formed a Bullish Pin Bar Signal overnight.
Price moved significantly higher from within the range of the recent Bullish Multiple Inside Bar Breakout that had triggered on Monday, Oct 28th (We had been suggesting buying on a retracement lower into the range of this pattern since Oct 29th daily newsletter and hopefully some traders got on board).
Potential Trade Signal 1: We are looking to buy on a retracement lower to within the range of the current Bullish Pin Bar Signal that had formed overnight.
Buy Limit: 154.15
Stop Loss: 153.15
Take Profit: 156.15
Potential Trade Signal 2: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the 151.27 – 152.13 short-term support area, which coincides with the recent Bullish Multiple Inside Bar Breakout that had triggered on Monday, Oct 28th.
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S&P500 – CASH: Buying On Retracement Lower To Within The Range Of Bullish Fakeout + Pin Bar Setup
Comments: Price formed a Bullish Fakeout + Pin Bar Setup overnight.
Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the current Bullish Fakeout + Pin Bar Setup that had formed overnight.
Buy Limit: 5890
Stop Loss: 5830
Take Profit: 6010
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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.
