Nial Fuller

NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

Trade Ideas: AUDUSD Surges From Fakey Setup & CRUDE OIL Buying A Pullback – April 15th, 2021

Note On Charts: It’s important you are trading with a broker that offers New York Close Charts, (a true 5-day chart that aligns with the true New York Close).
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Commentary Disclaimer: This should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments.

AUDUSD – Spot

Key levels: 0.7562, 0.7636, 0.7675, 0.7705, 0.7806, 0.7838, 0.8006

Price Action: Price moved higher overnight after breaking out from the Bullish Fakey + Pin Bar setup that had formed just above the 0.7562 major support level yesterday (discussed in Yesterday’s newsletter). Price surged higher from the prior Bullish Fakey + Pin Bar signal early last week that had formed at the 0.7562 major support level two weeks ago (discussed in 2nd of April newsletter).

Potential Trade Idea: We are considering trading longs on a retracement lower to within the range of the recent Bullish Fakey + Pin Bar setup (second chance entry), whilst price remains above the 0.7562 major support level.

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

CRUDE OIL – Futures

Key levels: $51.56, $53.81, $57.35, $59.16, $62.23, $63.73, $66.22, $67.94

Price Action: Price moved higher overnight, after breaking out from the Giant Multiple Inside Bar pattern that had been forming within the $57.35 – $59.16 key support range since early last week (discussed in 12th of April members weekly newsletter). The recent bearish Fakey + Pin Bar setup that had formed at the $57.35 – $59.16 support zone earlier this week, has now failed. (we had mentioned in the members daily newsletter on Tuesday, not considering trading this setup, as it was formed just above the key support zone and price didn’t trigger any downside movement). The prior bullish Multiple Inside Bar breakout that triggered just above the $57.35 – $59.16 support range two weeks ago, still remains intact.

Potential Trade Idea: We are considering trading longs on a retracement lower to within the range of the recent multiple Inside Bar breakout (second chance entry), whilst price remains above the $57.35 – $59.16 key support zone.

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

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Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.

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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. Mr Ali

    How you simplify your charts and analysis is just so amazing! So easy and straightforward. Thanks for this amazing gift Nial

    Reply

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