S&P 500, CRUDE OIL & GBPJPY – 24th August, 2021 » Learn To Trade The Market

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S&P 500, CRUDE OIL & GBPJPY – 24th August, 2021 » 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.

Disclaimer: This newsletter 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.

S&P 500 Index – Daily Chart

Price surged from a bullish Pin Bar signal that formed within the 4388 and 4425 support area previously mentioned in the members newsletter last week. (this is now an Event Area).

We are again considering waiting for a retracement lower in prices + price action buy signal on the 4 hour or daily chart, at or around the 4388 to 4425 support area.

2021 08 24 14 18 29

CRUDE OIL – Daily Chart

Several Bullish Pin Bars failed as price broke below $65.00 support level, activating a short term bearish trend. Nearby resistance is now at most recent swing high around $69.70 resistance level.

We are considering selling short on a retracement higher, at our just below $69.70 resistance level, ideally after a price action signal on the 4 hour or daily chart time frame.

2021 08 24 14 16 51

GBPJPY – Daily Chart

A trading range persists between the 148.55 support level and 153.40 resistance level. There is also a prior Event Area (bullish Pin Bar) around the 148.55 support level.

Not considering anything at the moment and will update the members newsletter this week with any potential opportunities.

2021 08 24 14 13 14

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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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