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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – July 16th to 20th, 2018

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | 3 Comments

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 PRICE ACTION TECHNICAL ANALYSIS & TRADE SETUPS IDEAS – July 16th to 20th, 2018

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

EURUSD 

Market Summary – A strong bearish / downtrend remains intact whilst the market is contained under technical resistance at 1.1840 area. Price lost slight ground last week in what was a pretty quiet week. We could see a short-term bounce this week but we expect sellers to move in near resistance levels.

Trade Forecast – Whilst contained below 1.1840 resistance we would look to sell short on any price strength or wait for a price action sell signal on the 4 hour or daily chart at 1.1840 area.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

USDJPY

Market Summary – The USDJPY exploded higher last week, in-line with our discussions in recent weeks of looking to buy this market. Price broke out above 110.90 – 111.35 resistance levels last week, as bulls took over. We could see a short-term pull back here but we expect buyers to defend support levels this week.

Trade Forecast – Whilst contained above the 108.65 -108.35 key support, we would look to buy on any price weakness or wait for a price action buy signal on the 4 hour or daily chart. We can watch the 110.90 – 111.40 support zone for a buy signal this week on a pullback.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

CRUDE OIL WTI

Market Summary – Our bullish bias in Crude Oil remains despite the sell-off last week. Whilst price is sitting firmly atop key support levels will keep looking to buy. Note that price bounced slightly at 69.35 support; a level we mentioned in recent weeks as a potential buy-level. However, we aren’t seeing any obvious buy signals on this pullback just yet, so we will keep waiting for a clear buy signal near 69.35 – 66.50 zone.

Trade Forecast – Whilst contained above or within the 69.35 to 66.50 support zone, we would look to buy on a clear price action buy signal on the 4 hour or daily chart, ideally at or within that zone.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

GOLD

Market Summary – A strong bearish trend remains intact in Gold whilst price is contained under the technical resistance level at 1282. Note, price moved lower from the fakey pin bar combo signal that we discussed as a potential selling opportunity last week in our daily members trade setups newsletter. This move is in-line with our recent conversations of looking to sell this market on a signal or on strength.

Trade Forecast – Whilst price is contained below the 1282 resistance, we would look to sell short on any price strength towards 1282, or wait for a price action sell signal on the 4 hour or daily chart.
We will alert members to a potential trade setup this week in the member’s daily trade setups newsletter.

S&P500 USA INDEX

Market Summary – The S&P500 has moved up and reclaimed 2740 and 2795 resistance as the recent bullish momentum continued last week. The market has hammered out a strong base near 2700 area and is now breaking back through 2740, 2795 and possibly higher. The trend is bullish above 2700 key support area.

Trade Forecast – We are continuing to look to buy weakness whilst above 2700 swing low and we can watch for price action buy signals on pullbacks towards support near 2740 – 2700 this week.

Want Daily Trade-Ideas & Chart Analysis? Members of Nial Fuller’s trading education courses get access to the members daily trade setups newsletter. You will get potential trade ideas and detailed chart analysis on Currency Pairs, Commodities, Stock Indices and more, every trading day. For more information visit the Trading Course Membership Page Here.

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.

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. solomon July 22, 2018 at 10:47 am

    good

    Reply
  2. Rey July 20, 2018 at 2:11 am

    Very helpful insights. Thanks you very much Nial and team.

    Reply
  3. Muhammad Yusuf July 16, 2018 at 3:40 pm

    Nial how to add long arrow object in Metatrader 4 like you use in weekly trade setups?

    Reply

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