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USDJPY – SPOT: Buying On A Breakout Of Bullish Multiple Inside Bar Pattern
Price Action: Price formed a Bullish Multiple Inside Bar + Ultra-small Pin Bar (Combo Setup) late last week.
Price formed a Potential Bullish Multi-Bar Fakey Setup early last week (This Setup will trigger only if price breaks out above the Mother Bar’s high), (We waiting suggested for the Bullish Fakey setup in May 25th, daily newsletter).
Potential Trade Idea 1: We are considering buying on a breakout above the current Bullish Multiple Inside Bar + Ultra-small Pin Bar (Combo Setup)
Potential Trade Idea 2: We are considering waiting to see if the current Bullish Multiple Inside Bar + Ultra-small Pin Bar (Combo Setup) turns into a Potential Bullish Fakey Setup.
NOTE – You can trade Spot USDJPY via the trading platform we use HERE.
GOLD – SPOT: Selling On A Retracement
Price Action: Price formed an ultra-small Bearish Pin Bar Signal late last week (We are not considering trading this signal).
Price moved higher from the recent Bullish Pin Bar Signal that had formed over two weeks ago (We did not consider trading this signal).
Potential Trade Idea: We are considering selling on a higher retracement and after a price action signal at or just below the $1877 – $1895 short-term resistance area.
NOTE – You can trade Spot GOLD via the trading platform we use HERE.
BITCOIN (BTCUSD) – Cash: Bearish Multiple Inside Bar Breakout
(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 formed a Bullish Pin Bar + Multiple Inside Bar (Combo Setup) overnight (We are not considering trading this setup).
Price briefly moved below the Multiple Inside Bar Pattern that had formed last Sunday (We suggested trading the breakdown of this pattern in the May 24th, daily newsletter).
Price moved significantly lower (Almost $4500) from the Bearish Pin Bar Signal that had formed just under the $31327 short-term resistance level on Tuesday, May 10th (Before reversing up), (We suggested trading the pullback to this signal in the May 12th , daily newsletter).
Potential Trade Idea: We are considering recent selling on a retracement higher to within the range of the Bearish Multiple Inside Bar Breakdown that was triggered on May 26th, last Thursday.
NOTE – You can trade BITCOIN & CRYPTO CURRENCY 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.