Weekly Market Update: USDJPY, S&P500 & GBPUSD – Nov 25TH, 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.
USDJPY: Buying On Retracement Lower To Within The Range Of Bullish Pin Bar Signal
Comments: Price formed an Inside Bar Pattern on Friday, Nov 22nd (We are not considering trading this pattern).
Price moved briefly higher from the recent Bullish Pin Bar Signal that had formed on Tuesday, Nov 19th (We suggested buying on a retracement lower into the range of this signal in the Nov 20th daily market newsletter and hopefully some traders got on board).
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 newsletter and hopefully some traders got on board).
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 Pin Bar Signal that had formed on Tuesday, Nov 19th.
Below is the orignal Trade Idea posted on Wednesday, Nov 20th.
Buy Limit: 154.15 – This Trade is Active
Stop Loss: 153.15
Take Profit: 156.15
Potential Trade Signal 3: 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.
To Trade This Market With Our Preferred Broker, CLICK HERE
S&P500 – CASH: Buying On Retracement Lower To Within The Range Of Bullish Fakeout + Pin Bar Setup
Comments: Price moved higher from the recent Bullish Fakeout + Pin Bar Setup that had formed on Tuesday, Nov 19th (We suggested buying on a retracement lower into the range of this Setup in the Nov 20th daily newsletter and hopefully some traders got on board).
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 triggered on Thursday, Nov 21st .
Buy Limit: 5890 – This Trade is Active
Stop Loss: 5830
Take Profit: 6010
To Trade This Market With Our Preferred Broker, CLICK HERE
GBPUSD: Selling On Retracement higher To Within The Range Of Bearish Fakeout + Pin Bar Setup
Comments: Price moved slightly lower from the recent Bearish Fakeout + Pin Bar Setup that had formed on Wednesday, Nov 20th (We suggested selling on a breakdown of this Setup on Thursday, Nov 22nd daily newsletter).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the recent Bearish Fakeout + Pin Bar Setup that had triggered on Thursday, Nov 21st.
Below given is the orignal signal posted on Thursday, Nov 21st in the members daily newsletter
Sell Stop: 1.2590 – This Trade is Active
Stop Loss: 1.2725
Take Profit: 1.2320
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.
