Trade Ideas: AUDUSD: Looking To Sell On Strength Whilst Under 0.6900 & GOLD: Looking To Sell On Strength Whilst Under $1520 – November 15th, 2019
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.
AUDUSD – Looking To Sell On Any Bounce Whilst Under ‘Price Action Event Area’ And Key Resistance At 0.6900
Relevant Key Levels: Resistance 0.7205, 0.7080, 0.7050, and 0.6900 area. Support 0.6700
Price Action: Price sells off from a double Pin Bar pattern that formed under the 0.6900 resistance level recently (event area).
Current Notes: The bias is bearish whilst prices remain below the 0.7050 to 0.7080 resistance levels.
Trade Idea: We will consider selling short on any short term bounce in prices and/OR after a bearish price action sell signal (eg: Pin Bar) whilst prices remain below the 0.6900 and 0.7080 resistance levels. Initial downside targets to 0.6800 and 0.6700 area.
NOTE – You can trade AUDUSD via the preferred trading platform we use HERE.
GOLD – Looking To Sell On Any Bounce Whilst Under ‘Price Action Event Area’ And Key Resistance At $1520
Trend: Bearish / Neutral
Relevant Key Levels: Support at $1350, $1380, $1400 and $1440 to $1450’s area. Resistance at $1525 and $1550.
Price Action: A small Bullish Pin Bar formed at the $1450 level (counter-trend). Price remains contained below a recent Bearish Pin Bar, that had formed just under the $1525 level several weeks ago. (event area)
Current Notes: Price may bounce in the short term, however, the short term bias is still bearish under $1525 resistance. The long term bias is still bullish whilst prices remain supported above the $1400 support area.
Trade Idea 1 : We will consider selling after a retracement higher in prices and after a price action sell signal to confirm a short entry (eg: Bearish Pin Bar) whilst prices remain below $1525 resistance area, targeting a move back down to $1450’s area.
NOTE – You can trade Spot GOLD 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 Course Membership Page Here.
Note: – Download a Free Trial of the Broker & Charting Platform We Use HERE.
Please Leave A Comment Below