Weekly Market Update: BTCUSD, GOLD & CRUDE OIL – Nov 4TH, 2024
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
BTCUSD: Buying On Retracement Lower & After Price Action Signal At Or Above $64447 – $66435 Support Area
Comments: Price formed a Potential Bullish Fakeout + Pin Bar Setup overnight (We are not considering trading this setup).
Price moved briefly lower from the recent Bearish Tailed Bar Signal that had formed on Friday, Nov 1st (We did not consider trading this signal, nor did we mention it).
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the $64447 – $66435 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD – SPOT: Buying On Retracement Lower To Within The Range Bullish Multiple Inside Bar + Pin Bar (Combination Setup)
Comments: Price formed a Bearish Inside Bar + Pin Bar (Combination Setup) with a Giant Mother Bar on Friday, Nov 1st (We are not considering trading this setup).
Price moved briefly higher from the recent Bullish Multiple Inside Bar + Pin Bar (Combination Setup) that had formed on Friday, Oct 25th (We suggested buying the breakout of this setup in the Oct 28th daily newsletter).
Potential Trade Signal: We are looking to buy on a retracement lower to within the range of the most recent Bullish Multiple Inside Bar + Pin Bar (Combination Setup) that had triggered on Tuesday, Oct 29th.
Below is the orignal Trade Idea posted on Oct 29th.
Buy Stop: $2760
Stop Loss: $2710
Take Profit: $2900
To Trade This Market With Our Preferred Broker, CLICK HERE
CRUDE OIL – WTI: Selling On Retracement Higher & After Price Action Signal At Or Below $71.35 – $72.22 Resistance Area
Comments: Price formed a Bearish Tailed Bar Signal on Friday, Nov 1st (We are not considering trading this signal).
Potential Trade Signal: We are looking to sell on a retracement higher and after a price action sell signal, at or just below the $71.35 – $72.22 short-term resistance area, which coincides with the recent Bearish Fakeout + Long Tailed Pin Bar Setup that had triggered on Monday, Oct 28th.
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.
