Weekly Market Update: ETHUSD, AUDUSD & USDJPY – Nov 18TH, 2024
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
ETHUSD: Buying On Retracement Lower & After Price Action Signal Whilst Price Remains Above $2720 – $2769 Support Area
Comments: Price moved slightly lower from the recent Bearish Pin Bar Signal that had formed on Tuesday, Nov 12th (We did not consider trading this signal, nor did we mention it).
Price recently moved significantly higher from the $2720 – $2769 short-term support area.
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, whilst price remains above the $2720 – $2769 short-term support area.
To Trade This Market With Our Preferred Broker, CLICK HERE
AUDUSD: Selling On Breakdown Of Bearish Inside Bar + Small Tailed Bar (Combination Setup)
Comments: Price formed a Bearish Inside Bar + Small Tailed Bar (Combination Setup) on Friday, Nov 15th.
Potential Trade Signal: We are looking to sell on a breakdown of the current Bearish Inside Bar + Small Tailed Bar (Combination Setup) that had formed on Friday, Nov 15th.
Sell Stop: 0.6437
Stop Loss: 0.6500
Take Profit: 0.6311
To Trade This Market With Our Preferred Broker, CLICK HERE
USDJPY: Buying On Retracement Lower & After Price Action Signal At Or Above 151.24 – 152.09 Support Area
Comments: Price moved higher from within the range of the 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 Tuesday, Oct 29th daily market newsletter and hopefully some traders got on board).
Potential Trade Signal 1: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the 151.24 – 152.09 short-term support area, which coincides with the recent Bullish Multiple Inside Bar Breakout that had triggered on Monday, Oct 28th.
Potential Trade Signal 2: Below is the Trade Idea posted on Tuesday, Oct 29th.
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
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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.
