Weekly Market Update: CRUDE OIL, USDJPY & EURUSD, Dec 23rd – 29th, 2024
NOTE: This market newsletter is based on analysis conducted using the daily chart timeframe. Each market discussed is accompanied by a corresponding price chart for clarity and reference.
CRUDE OIL – WTI: Selling On Retracement Higher To Within The Range Of Bearish Pin Bar Signal
Comments: Price formed a Bullish Pin Bar Signal on Friday, Dec 20th (We are not considering trading this signal).
Price moved slightly lower from within the range of the recent Bearish Pin Bar Signal that had formed on Wednesday, Dec 18th (We suggested selling on a retracement higher into the range of this signal in the Dec 19th members daily newsletter).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the recent Bearish Pin Bar Signal that had formed on Dec 18th.
Below Given is the actual Trade Idea Posted on Thursday, Dec 19th in our Premium Trading Community.
Market Order: 69.90 – This Trade is Active
Stop Loss: 70.85
Take Profit: 67.06
R:R – 1:3
To Trade This Market With Our Preferred Broker, CLICK HERE
USDJPY: Buying On Retracement Lower & After Price Action Signal At Or Above 153.13 – 153.91 Support Area
Comments: Price moved significantly higher from the recent Double Bullish Pin Bar + Inside Bar (Combination Setup) that had formed on Thursday, Dec 12th (We did not consider trading this setup, 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 153.13 – 153.91 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
EURUSD: Selling On Retracement Higher & After Price Action Signal At Or Below 1.0534 – 1.0631 Resistance Area
Comments: Price moved lower from the most recent Small Bearish Pin Bar Signal that had formed on Tuesday, Dec 17th (We did not consider trading this signal).
Price moved significantly lower from the recent Bearish Pin Bar Signal that had formed just below the 1.0610 – 1.0631 short-term resistance area on Friday, Dec 6th (We suggested selling on a retracement higher into the range of this signal in the Dec 10th weekly newsletter and hopefully some traders got onboard).
Potential Trade Signal: We are looking to sell on a retracement higher and after a price action sell signal, at or within the 1.0534 – 1.0631 short-term resistance 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.
