EURUSD, GBPJPY & GOLD – April 4th to 8th, 2022 » Learn To Trade The Market

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EURUSD – SPOT: Selling After A Pullback

Price Action: There is no new price action signal to note at this time.

Price moved higher from the recent Bullish Fakey + Pin Bar Setup that had formed, early last week (we did not consider trading this setup as it had formed just under a resistance area and against the short-term Bearish trend, nor did we mention it at the time it formed).

Potential Trade Idea: We are still considering selling on a higher retracement and after a price action sell signal, within the 1.1120 – 1.1284 short-term resistance area.

NOTE – You can trade Spot EURUSD via the trading platform we use HERE.

GBPJPY – SPOT: Buying After A Pullback

Price Action: There is no new price action signal to note at this time.

The recent Bearish Inside Bar + Tailed Bar (Combo Pattern) didn’t trigger.

Price moved lower from the recent Giant Bearish Tailed Bar Signal that had formed, early last week (We did not consider trading this signal as it had formed against the recent short-term Bullish trend).

Potential Trade Idea: We are still considering buying on a retracement lower and only after a clear price action signal, at or around the 157.70 – 158.21 short-term support area.

NOTE – You can trade Spot GBPJPY via the trading platform we use HERE.

GOLD – SPOT: Bullish Pin Bar Buy Signal

Price Action: There is no new price action signal to note at this time.

Price briefly moved higher from the recent Bullish Pin Bar Signal that had formed, early last week.

The prior Bullish Multi Bar Fakey Setup that had formed over a week ago had been invalidated.

Potential Trade Idea 1: For more aggressive traders, we are considering buying on a retracement lower to within the range of the recent Bullish Pin Bar Signal, with risk management below the Pin Bar low.

Potential Trade Idea 2: We are still considering buying on a lower retracement and after a price action buy signal on a daily, 4 hourly, or 1 hourly chart, at or just above the $1853 – $1877 short-term support area.

NOTE – You can trade GOLD Spot via the trading platform we use HERE.

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Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.

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