Christmas Special: Get 50% Off Nial Fuller's Price Action Trading Course & Daily Newsletter (Ends Dec 31st)
Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Forex Trade Setups Commentary: Gold Inside Bar Setup 8-30-10

Forex Trade Setups Commentary: Gold Inside Bar Setup

Gold formed an inside bar today in the context of the recent bullish momentum. We have pointed out some of the other recent price action setups that have worked out nicely on the daily chart of gold below.

The inside bar setup that formed today could provide traders with a low-risk entry into this recent up move, however we would need to see a break of the mother candle high near 1242.15 to initiate any new long positions.

1283211809-clip-12kb

For a more in-depth analysis of the major forex currency pairs and price action analysis, please check out my forex trading course.

Commentary:

The U.S. dollar and Japanese yen strengthened today on the back of renewed risk aversion due to concerns over the pace of the global economic recovery.

The yen was the big winner today, beating out all the other majors including the U.S. dollar.

The Dow lost 140.92 points, or 1.39 percent, the S&P 500 dropped 15.67 points, or 1.47 percent, and the Nasdaq lost 33.66 points, or 1.56 percent.

Print Friendly, PDF & Email

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.

Leave a Comment

Your email address will not be published. Required fields are marked *