USDJPY, EURUSD & BITCOIN – May 16th to 20th, 2022 » Learn To Trade The Market

Note on Charts: It’s important you are trading with a broker that offers True 5 Day New York Close Charts.

Note On Brokers: Download our Preferred Broker Platform with New York Close Charts Here.

USDJPY – SPOT: Waiting For A Bullish Fakey Setup

Price Action: Price formed an Inside Bar Pattern late last week (We are not considering trading this pattern).

Price moved lower from the prior Bearish Pin Bar Signal that had formed early last week (We did not consider trading this signal).

Potential Trade Idea: We are considering waiting to see if the current Inside Bar Pattern turns into a Bullish Fakey Setup.

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

EURUSD – SPOT: Selling On A Retracement

Price Action: Price moved significantly lower from the prior Bearish Multiple Inside Bar + Pin Bar (Combo Setup) that had formed early last week (We suggested trading this setup in the May 12th, members’ daily newsletter).

Price moved significantly lower from the recent Bearish Multi-Bar Fakey + Pin Bar Setup (Event Zone) that had formed over three weeks ago (We suggested trading this setup in the April 25th, weekly newsletter and hopefully some traders got on board).

Potential Trade Idea 1: For more aggressive traders, we are considering selling on a higher retracement whilst price remains below the prior Bearish Multiple Inside Bar + Pin Bar (Combo Setup).

Potential Trade Idea 2: We are considering selling on a higher retracement whilst price remains below the recent Bearish Multi-Bar Fakey + Pin Bar Signal (Event Zone).

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

BITCOIN (BTCUSD) – Cash: Selling On A Retracement

(WARNING ON CRYPTO: TRADING BITCOIN AND CRYPTO IS HIGH RISK, CONSIDER A REDUCED POSITION SIZE AND LOWER LEVERAGE UNTIL YOU ARE FAMILIAR WITH THESE MARKETS).

Price Action: Price briefly moved lower from the prior Bearish Pin Bar Signal that had formed last Friday (We did not consider trading this signal, nor did we mention it).

Price briefly moved higher from the recent Bullish Long-Tailed Pin Bar Signal that had formed last Thursday (We did not consider trading this signal).

Price briefly moved lower from the recent Bearish Pin Bar Signal that had formed last Tuesday (We suggested trading this signal in the May 11th, members’ daily newsletter).

Price significantly moved lower from the recent Multiple Inside Bar Pattern that had formed just above the 37559 prior short-term support level (Which is now a Key resistance level and an Event Area) over two weeks ago (We suggested trading this pattern in the April 29th, members daily newsletter).

Potential Trade Idea 1: For more aggressive traders, we are considering selling on a higher retracement whilst price remains below the recent Bearish Pin Bar Signal.

Potential Trade Idea 2: We are considering selling on a higher retracement whilst price remains below the 37559 key resistance level and the recent Multiple Inside Bar Breakdown Pattern (Event Area).

NOTE – You can trade BITCOIN & CRYPTO CURRENCY via the trading platform we use HERE.

Join My Pro Trading Course & Trade Ideas Newsletter: visit the Membership Page Here.

Get The Correct Charts We Use: Download our Preferred Charting & Broker Platform Here.

Already A Member? Log In To Members Area
Here.

Please Leave A Comment Below With Your Questions or Feedback.

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.

Print Friendly, PDF & Email

Nial Fuller Professional Trading Course
Preferred broker 2020 v1

Leave a Comment