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.
Trade Idea: GBPUSD Inside Bar Break Down Potential – April 23rd, 2020
GBPUSD – Inside Bar + Small Bearish Tailed Bar (Combo) Has Potential To Break Down.
Relevant Key Levels: Resistance: 1.3190, 1.2770 and 1.2580. Support: 1.2020 and 1.1400.
Price Action: An Inside Bar + Small Bearish Tailed Bar (combo) forms mid this week.
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 (Inside bar break or Bearish Fakey 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.
Members Get Daily Trade Ideas & Chart Analysis From Nial Fuller Every Day …
All Members of Nial Fuller’s trading courses & members area get access to Nial’s daily trade setups ideas newsletter. You will get potential trade ideas and technical chart analysis on Currency Pairs, Commodities, Stock Indices and more. For More Info Visit the Membership Page Here.
Please Leave A Comment Below