EURUSD, CRUDE OIL & BITCOIN – May 24th, 2022 » Learn To Trade The Market

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EURUSD, CRUDE OIL & BITCOIN – May 24th, 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.

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EURUSD – SPOT: Selling On A Retracement

Price Action: Price moved higher from the Inside Bar Pattern that had formed late last week (We did not consider trading this pattern).

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

Potential Trade Idea: We are considering selling on a retracement higher to within the range of the prior Bearish Multi-Bar Fakey + Pin Bar Signal (Event Zone) that had formed just under the 1.0804 – 1.0937 key resistance area, over four weeks ago.

NOTE – You can trade Spot EURUSD via the trading platform we use HERE.
eurusd may 24th 2022
CRUDE OIL – Futures:  Bullish Pin Bar Signal Triggered

Price Action: Price moved slightly higher from the Bullish Pin Bar Signal that had formed late last week (We suggested trading this signal in the May 20th, daily newsletter).

Price moved higher from the recent Bullish Pin Bar Signal that had formed over a week ago (We did not consider trading this signal).

Price moved higher from within the range of the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level around four weeks ago (We suggested trading the pullback to this signal in the May 1st, weekly newsletter and hopefully some traders got on board).

Potential Trade Idea 1: For more aggressive traders, we are considering buying on a retracement lower to within the range of the prior Bullish Pin Bar Signal that had formed last Thursday, May 19th.

Potential Trade Idea 2: We are considering buying on a retracement lower whilst price remains above the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level.

NOTE – You can trade CRUDE OIL Futures via the trading platform we use HERE.
crude oil may 24th 2022

BITCOIN (BTCUSD) – Cash: Multiple Inside Bar Pattern

(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 had been forming a Multiple Inside Bar Pattern since last Sunday.

Price formed a Potential Bullish Multi-Bar Fakey Setup last Thursday (We did not consider trading this setup).

Price briefly moved higher from the Bullish Long-Tailed Pin Bar Signal that had formed over a week ago (We did not consider trading this signal).

Price moved significantly lower (Almost $4500) from the Bearish Pin Bar Signal that had formed on Tuesday, May 10th (Before reversing up), (We suggested trading this signal in the May 11th, members’ daily newsletter).

Price significantly moved lower from the 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) around three weeks ago (We suggested trading this pattern in the April 29th, daily newsletter).

Potential Trade Idea 1: For more aggressive traders, we are considering selling on a breakdown below the current Multiple Inside Bar Pattern.

Potential Trade Idea 2: We are considering waiting to see if the current Multiple Inside Bar Pattern turns into a Bearish Fakey Setup.

NOTE – You can trade BITCOIN & CRYPTO CURRENCY via the trading platform we use HERE.
btcusd may 24th 2022 1
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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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