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NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 13th to 17th, 2018

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | One Comment

Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

Disclaimer: Nial’s views and comments on the following markets and charts is not advice or a recommendation, it is for educational and general information only.

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 13th to 17th, 2018

All charts illustrated are daily chart time-frames unless marked otherwise.

GOLD

Multiple inside bars on daily chart suggest more downside to come.

Summary: Down trend remains in tact with nearby resistance at 1237.  A series of inside bars has developed, with a break to the downside likely towards 1200 and 1180 support.

Trade Idea: Consider selling short and riding the market lower to next support at 1200 and 1180 area.

GBPUSD

Bears remain firmly in control under 1.2950 resistance.

Summary: Long term down trend remains in tact with the most relevant nearby resistance levels at 1.2950

Trade Idea: This week consider selling short on any price strength under 1.2950 or wait for a price action sell signal on 4 hour or daily chart.

EURUSD

Bears remain firmly in control under 1.1615 resistance.

Summary: Long term down trend remains in tact with nearby resistance at 1.1500 and 1.1615 resistance.

Trade Idea: Continue to consider selling short on any price strength whilst price is under 1.1500 to 1.1615 resistance range or wait for a price action sell signal on 4 hour or daily chart.

NZDUSD

Looking very weak after last weeks collapse below 0.6690.

Summary: Long term down trend remains in tact with nearby resistance at 0.6690.

Trade Idea: Consider selling short on any price strength whilst prices remain contained under 0.6690.

CRUDE OIL

The bulls can still resume whilst price holds 64.10 support.

Summary: Up trend remains in tact with nearby support at 66.25 to 64.10. It’s likely prices will continue to experience buying pressure from nearby support.

Trade Idea: Wait for a price action buy signal confirmation above 66.25 to 64.100 support, but avoid a blind entry.

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Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

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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 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. Ash August 14, 2018 at 12:06 am

    You nailed the Gold move. 1190 Low. If only I had I seen this a few hours ago.

    Reply

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