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Members Daily Trade Ideas Newsletter – April 20th, 2021

April 20th, 2021 by Forexsn.com

Disclaimer: Forexsn.com 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 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 aware of the risks and rewards in trading or investing in any financial product.

Important Notes:

  • It’s important you are trading with a broker that has ‘New York Close Charts‘, (a true 5 day chart that aligns with the New York Close). Download a demo of our Preferred Broker & New York Close Charting Platform HERE.
  • All markets are ‘spot’ or cash markets unless stated as ‘futures’.
  • Trading Longs = Buy/Bullish and Trading Shorts = Sell/Bearish.
  • An ‘Event Area’ = A Key Area On A Chart Where A Significant Price Action Signal Formed Previously

REQUEST: PLEASE START LEAVING YOUR COMMENTS, QUESTIONS & FEEDBACK BELOW EACH NEWSLETTER VIA THE COMMENT BOX BELOW THIS POST. I LOVE HEARING FROM YOU ALL 🙂


EURUSD – Spot

Key levels: 1.1704, 1.1833, 1.1988, 1.2180, 1.2243

Price Action: Yesterday, price surged aggressively and reconnected above the prior 1.1988 key resistance level which now becomes a new key support level. Last Tuesday, price moved higher after breaking out from the Multiple Inside Bar + Pin Bar combo pattern that had formed just above the 1.1833 short-term support level early last week and is now sitting just under the 1.1988 key resistance level (we had mentioned not considering trading this pattern as it would have effectively been trading a breakout into a key resistance level, and the overall trend was still technically bearish). Just over a week ago, price invalidated the prior bearish Pin Bar signal, that had formed just above the 1.1833 short-term support level two weeks ago (we had mentioned not considering trading this signal as it had a narrow range, formed in no man’s land, and was just above the 1.1833 short-term key level – discussed in the April 8th newsletter).

Potential Trade Idea: We are considering trading longs on a retracement lower and after a price action buy signal, whilst price remains above the 1.1988 support level.

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

GBPUSD – Spot

Key levels: 1.3570, 1.3620, 1.3671, 1.3702, 1.3760, 1.3917, 1.4002, 1.4236

Price Action: Yesterday, price surged aggressively from the Bullish Fakey + Giant Tailed Bar setup that had formed within the 1.3671 – 1.3759 key support range late last week (Price initially false break down below the inside bar pattern that we discussed in the previous newsletter, before aggressively reversing back up to form a Bullish Fakey setup). Price broke out from the Inside Bar + Pin Bar combo pattern that had formed just above the 1.3671 key support level early last week (discussed in last Wednesday’s newsletter). Price moved higher from the bullish Tailed Bar signal that had formed just above the 1.3671 key support level over a week ago (discussed in the previous weekly newsletter).

Potential Trade Idea: We are still considering trading longs on retracement lower to within the range of the Bullish Fakey + Giant Tailed Bar setup (second chance entry), whilst price remains above the 1.3671 – 1.3759 key support range.

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

USDJPY – Spot

Key levels: 108.35, 109.29, 109.85, 110.95, 111.70

Price Action: Yesterday, price broke strongly below the 108.35 key support level which now becomes a new resistance level and closed under that level. Price moved lower from the Bearish Tailed Bar signal that had formed within the 109.29 – 109.85 resistance range mid-last week (discussed in last Wednesday’s newsletter). Price broke below the recent Inside Bar pattern that had formed within the 109.29 – 109.85 resistance range early last week (discussed in last Tuesday’s newsletter). Price moved lower after breaking below the multiple Inside Bar Pattern that had formed above the 109.29 – 109.85 support zone around two weeks ago.

Potential Trade Idea: We are considering trading shorts on a retracement higher and after a price action sell signal, whilst price remains below the 108.35 – 109.29 resistance range.

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

AUDUSD – Spot

Key levels: 0.7562, 0.7636, 0.7675, 0.7705, 0.7806, 0.7838, 0.8006

Price Action: Yesterday, price moved higher from the Inside Bar pattern that had formed just above the 0.7705 key support level late last week (We wouldn’t consider trading this signal, as we would much rather prefer buying on a pullback). Early last week, price moved higher and closed above the 0.7705 key level, after breaking out from the Bullish Fakey + Pin Bar setup that had formed just above the 0.7562 major support level early last week (discussed in last Wednesday’s newsletter). Price surged higher from the prior Bullish Fakey + Pin Bar signal early last week that had formed at the 0.7562 major support level two weeks ago (discussed in Friday the 2nd of April newsletter).

Potential Trade Idea: We are considering trading longs on a retracement lower to around the breakout point of the recent Bullish Fakey setup (second chance entry), within the 0.7636 – 0.7705 support range.

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

GOLD – Spot

Key levels: $1676, $1755 – $1764, $1790, $1816, $1823, $1852, $1861, $1874

Price Action: Yesterday, price formed a bearish Pin Bar signal just under the $1790 key resistance level (We are not considering trading this signal as it has formed just above the $1755 – $1764 key support zone). Price moved higher and reconnected above the prior $1755 – $1764 key resistance zone which now becomes a new key support zone, late last week. Early last week, price invalidated the bullish Tailed Bar signal that had formed just under the $1755 – $1764 resistance zone over a week ago (not a signal we had been considering trading at the time). Just over a week ago, price broke above the recent Inside Bar pattern that had formed just under the $1755 – $1764 resistance zone (we discussed not trading this signal, as it was counter-trend, and had formed just under a key resistance zone).

Potential Trade Idea: We are considering trading longs on a retracement lower and only after a substantial price action buy signal on the daily or 4 hour chart time frame, at or around the $1755 – $1764 key support zone.

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

SPI 200 – Cash

Key levels: 6511, 6561, 6658, 6761, 6862, 6900, 6920

Price Action: Yesterday, price formed a Bullish Pin Bar + Inside Bar combo pattern at all-time highs. Price broke out from the Multiple Inside Bar Pattern that had formed just above the 6862 – 6920 major support level early last week (discussed in the April 14th newsletter). Price didn’t end up triggering the potential Bearish Fakey + Pin Bar setup that had formed just above the 6862 – 6920 major support zone early last week (We had mentioned not considering trading this potential Bearish Fakey + Pin Bar signal, as we are in an aggressive uptrend and the setup had formed just above the 6862 – 6920 major support zone – discussed in last Thursday’s newsletter). Over a week ago, price broke out strongly above the 6920 major resistance level (discussed in April 8th newsletter).

Potential Trade Idea:

Trade Idea 1: We are considering trading longs on a retracement lower to within the range of the recent Multiple Inside Bar Breakout, whilst price remains above the 6862 – 6920 major support zone.

Trade Idea 2: Aggressive traders might consider trading longs from the Bullish Pin Bar + Inside Bar combo signal, in anticipation of the recent bullish momentum continuing and taking prices to new all-time highs.

NOTE – You can trade SPI 200 Cash via the trading platform we use HERE.

NOTE: It’s important you are trading with a broker that has ‘New York Close Charts‘, (a true 5 day chart that aligns with the New York Close). Download a demo of our Preferred Broker & New York Close Charting Platform HERE.


Chương 5 - Tín hiệu Inside Bar
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