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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

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By in Forex Trading Commentary on | 3 Comments
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Gold – Gold surges higher, looking for pull back to buy

As we discussed in our weekly market analysis this week, we are looking to be a buyer of Gold, ideally on a small pull back in price. However, in light of the surge higher today and the close above the high of last week’s bearish tailed pin bar, we are moving up our support / potential buy zone to around 1240.00 – 1220.00 support area or even the 21-day ema. Traders can look for weakness / pull backs to the aforementioned support levels to get long (ideally on a buy signal on the 1hr, 4hr or daily chart but blind entries are also something to consider for more experienced traders) and trade in-line with the uptrend from value. Also, note the key support zone down near 1180.00 – 1200.00; we will remain bullish / looking to buy whilst price is trading above that area.

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About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 15,000+ students since 2008. Checkout Nial's Professional Forex Course here.

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  1. Petrus July 31, 2017 at 3:15 pm

    Thank you.
    I would like to know your advice or suggestion on how swing traders who are using daily time frame dealing with gapping up or down that usually happen on Monday.

    Reply
  2. Samuel July 31, 2017 at 11:57 am

    Great analysis.. your insight into the market is always refreshing. Keep it up Neil

    Reply

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