Note On Charts: It’s imperative to your trading success that you are trading with a broker that offers ‘New York Close Forex Charts‘, (a true 5 day chart that aligns with the New York Close).
You Can Download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.
Chart Commentary Disclaimer: Nial’s views on the Charts is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this newsletter, do your own research and be aware of the risks and rewards.
Weekly Trade Setups Ideas & Chart Analysis – Feb 18th to 22nd, 2019
TECHNICAL PRICE ACTION ANALYSIS:
All charts illustrated are daily charts unless marked otherwise.
EURUSD – Pin Bar to send prices higher, but the trend remains bearish under 1.1490
Relevant Key Levels: Resistance 1.1490, 1.1615 and 1.1820. Support 1.1218 to 1.1300.
Price Action: A Bullish Pin Bar has formed at the 1.1218 support area.
Current Notes: Price could bounce from the pin bar signal, however, the bias is still bearish beneath 1.1490 to 1.1615 resistance, thus we would prefer selling into any strength.
Potential Trade Idea: We will consider looking to sell short on any strength whilst 1.1490 resistance holds, targetting 1.1350 1.1200 area.
GOLD – Bullish Fakey setup triggers, price heading to $1350
Relevant Key Levels: Support at $1237, $1266, $1280 and $1305. Resistance at $1355.
Price Action: A Bullish Fakey setup has triggered as price moves back through the highs of the mother bar of a failed inside bar setup from several weeks ago.
Current Notes: The bias is bullish above $1266, $1280 and $1305 support, we would prefer buying on any short term pullbacks. The current upward swing targets a move higher into the next resistance at $1355.
Potential Trade Idea: Whilst $1305 short term support holds firmly, we will consider buying on any weakness, targetting a move to at least $1355.
CRUDE OIL – Bullish Fakey setup triggers, price looking to test $58.20
Trend: Slightly Bullish
Relevant Key Levels: Resistance: $58.20. Support: $54.50, $51.20 and $42.30.
Price Action: The Bullish Fakey Setup has triggered and the market has exploded higher, reclaiming the $54.50 key chart level in the process. The prior bullish pin bar remains intact at $51.20
Current Notes: Price reclaims the $54.50 level and looks to be headed to test the next key level at $58.20. The bias is bullish above the recent pin bar low around the $51.20 area.
Potential Trade Idea: We will consider buying on any weakness whilst the low of the bullish pin bar holds at $51.20, targetting $54.50 and then $58.20.
Get Trade-Ideas & Chart Analysis From Nial Fuller Every Day … All Members of Nial Fuller’s trading education courses get access to Nial’s members daily trade setups ideas newsletter. You will get potential trade ideas and detailed chart analysis on at least 10 Currency Pairs, Commodities, Stock Indices and more, every trading day. For more info visit the Trading Course Membership Page Here.
Note: – Download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.
Leave A Comment Below