Weekly Market Update: USDJPY, GER40 & ETHUSD, Jan 6th – 12th, 2025
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.
USDJPY: Buying On Breakout Of Bullish Pin Bar + Inside Bar (Combination Setup)
Comments: Price formed a Bullish Pin Bar + Inside Bar (Combination Setup) on Friday, Jan 3rd.
Price moved briefly higher from the recent Bullish Pin Bar Signal that had formed on Tuesday, Dec 31st (We did not consider trading this signal, nor did we mention it).
Potential Trade Signal 1: We are looking to buy on a breakout of the current Bullish Pin Bar + Inside Bar (Combination Setup) that had formed on Friday, Jan 3rd.
Buy Stop: 157.97
Stop: 156.30
Take Profit: 161.75
Risk/Reward: 1:2
Potential Trade Signal 2: We are looking to buy on a retracement lower to within the range of the recent Bullish Pin Bar Signal that had formed on Tuesday, Dec 31st.
Buy Limit: 156.81
Stop Loss: 155.90
Take Profit: 158.34
Risk/Reward: 1:2
To Trade This Market With Our Preferred Broker, CLICK HERE
GER40 – CASH: Buying On Retracement Lower To Within The Range Of Bullish Pin Bar Signal
Comments: Price formed an Inside Bar Pattern on Friday, Jan 3rd (We are not considering trading this pattern).
Price moved briefly higher from within the range of the recent Bullish Long-Tailed Pin Bar Signal that had formed on Friday, Dec 20th (We did not consider trading this signal, nor did we mention it).
Potential Trade Signal 1: We are waiting to see if the current Inside Bar Pattern turns into a Potential Bullish Fakeout Setup.
Potential Trade Signal 2: We are looking to buy on a retracement lower to within the range of the recent Bullish Long-Tailed Pin Bar Signal that had formed on Friday, Dec 20th.
Buy Limit: 19825
Stop Loss: 19650
Take Profit: 20350
Risk/Reward: 1:3
To Trade This Market With Our Preferred Broker, CLICK HERE
ETHUSD: Buying On Retracement Lower & After Price Action Signal At Or Above $3446 – $3550 Support Area
Comments: Price formed an Ultra-Small Bullish Tailed Bar Signal overnight (We are not considering trading this signal).
Price moved slightly higher from within the range of the recent Bullish Long-Tailed Pin Bar Signal that had formed on Friday, Dec 20th (We did not consider trading this signal, nor did we mention it at the time it formed).
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the $3446 – $3550 short-term support 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.
