Nial Fuller

NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

Weekly Trade Setups Ideas & Chart Analysis – April 20th to 24th, 2020

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).

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.

Members Weekly Trade Setups Ideas & Chart Analysis – April 20th to 24th, 2020

GBPUSD 

Trend: Bearish

Relevant Key Levels: Resistance: 1.3190, 1.2770 and 1.2580. Support: 1.2020 and 1.1400.

Price Action: none.

Current Notes: Price collapsed below 1.2770 and 1.2580 resistance activating a short term bear market recently.

Potential Trade Idea: We will consider looking to sell after a price action sell signal at or just below either the 1.2580 or 1.2770 resistance level. Targeting a move back down to 1.2020 and then possibly 1.1400.

NOTE – You can trade Spot GBPUSD via the preferred trading platform we use HERE.

GOLD

Trend: Long Term Bullish

Relevant Key Levels: Support at $1445 and $1535 to $1565 and $1590. Resistance $1690 to $1700.

Price Action: 2 Bearish Tailed bars form at recent highs around $1690, and prices sell off slightly. The False break down from the Inside Bar around $1590, 2 weeks ago turned into a bullish Fakey pattern, catapulting prices higher.

Current Notes: Short term support $1535 to $1565 area. Price tested and held above the $1445-$1455 major support recently.

Potential Trade Idea: We will still consider looking to buy on a retracement lower, whilst prices hold above the $1535 to $1565 short term support area, targeting a move back up to $1690-$1700 area.

NOTE – You can trade Spot GOLD via the preferred trading platform we use HERE.

CRUDE OIL  

Trend: Very Bearish

Relevant Key Levels: Support $18.80 to $21.00. Resistance $27.80, $36.00, $41.50 and $49.50.

Price Action: A bearish Tailed Bar / Pin Bar formed as a result of an Inside Bar false break late last week, this pattern then activated a larger bearish Fakey pattern as prices broke below the mother bar low.

Current Notes: Price remains very bearish whilst under the $36.00 and $41.50 levels (prior gap).

Potential Trade Idea: We will still consider selling after a price action sell signal (ie: Bearish Tailed Bar or Pin Bar), whilst prices hold below the $36.00 level, targeting a move back to the $20.00 t $21.00 region and then the $10.00 to $11.00 region or possibly lower.

NOTE – You can trade CRUDE OIL Cash via the preferred trading platform we use HERE.

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Please Leave A Comment Below 

Nial Fuller

About Nial Fuller

is a Professional Trader, Investor & Author who is considered ‘The Authority’ on Price Action Trading. His blog is read by over 200,000+ followers and he has taught 25,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
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  1. Gcinumuzi

    Niall you really know your game. Thank you for the analysis I wish I can understand the fakery and inside bar.

    Thank you once more

    Reply
  2. Mr Ali

    Nial the authority,thanks for the analysis Mr fuller

    Reply
  3. Frank Müller

    Oil did not have a bearish pinbar. The tail was too small. In best, it was a bearish tail bar :)

    Reply
    • Moses

      The tail is obvious enough @Frank

      Reply
      • Frank

        Yes, the tail is obvious, but a pinbar or a tailed bare are two different candles. I believe a pinbar give stronger signal than a long tailed bar. :)

        Reply

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