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S&P 500 – CASH: Selling On Retracement Into The Range Of Bearish Multiple Inside Bar + Small Pin Bar (Combo Setup)
Price Action: Price moved lower from the Bearish Fakey + Small Pin Bar Setup that had formed early last week (We did not consider trading this setup, nor did we mention it).
Potential Trade Idea: We are considering selling on a retracement higher to within the range of the most recent Bearish Fakey + Small Pin Bar Setup that had triggered mid-last week.
NOTE – You can trade S&P 500 Cash via the trading platform we use HERE.
Price Action: The Small Bullish Pin Bar Signal that had formed over a week ago failed (We did not consider trading this signal).
Potential Trade Idea 1: For more aggressive traders, we are considering buying on a retracement lower and after a price action buy signal on a daily or 4-hour chart time frame, at or around the $86.68 short-term support level.
Potential Trade Idea 2: We are considering buying on a retracement lower and after a price action buy signal, at or just above the $81.28 short-term support level (Minor Event Area), which coincides with the recent Bullish Pin Bar Signal that had formed on Monday, Oct 24th.
NOTE – You can trade CRUDE OIL Futures via the trading platform we use HERE.
Price Action: Price moved briefly higher from the Bullish Long-Tailed Pin Bar Signal that had formed mid-last week (We suggested buying on a retracement lower into the range of this signal in the Nov 3rd, members’ daily newsletter).
Price formed a Potential Bullish Multi-Bar Fakey + Small Pin Bar Setup late last week (We did not consider trading this setup, as given its width, it will be hard to manage risk-reward).
Potential Trade Idea: We are considering buying on a retracement lower and after a price action signal, within or just above the 140.33 – 143.49 short-term support area.
NOTE – You can trade Spot USDJPY 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.