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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Trade Ideas: EURUSD Bearish Pin Bar + Inside Bar Combo Setup, GBPUSD Potential Bearish Fakey Setup – August 9th, 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.

EURUSD – Bearish Pin Bar + Inside Bar Combo Setup

Trend: Bearish

Relevant Key Levels: Resistance at 1.1280, 1.1325, 1.1430 and 1.1570. Support 1.1110 and 1.1020’s.

Price Action: Double Inside Bar + Bearish Pin Bar forms over the past few days. A bullish pin bar formed at the 1.1000 support level late last week (not trading as counter-trend).

Current Notes: The short term remains bearish as prices remain contained below 1.1280 resistance.

Potential Trade Idea: We will consider selling short on any pockets of strength OR on a price action sell signal, whilst price remains below 1.1280 resistance, targeting a move back to the 1.1110 level, and then potentially much lower to 1.1020’s.

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

GBPUSD – Potential Bearish Fakey Setup

Trend: Bearish

Relevant Key Levels: Resistance 1.2820-70, 1.2770, 1.2580, 1.2380 to 1.2430. Support 1.1990.

Price Action: False break of Inside Bar structure mid this week, suggests the commencement of potential Bearish Fakey Pattern if prices break back down. A bearish pin bar formed mid-last week around the recent lows. 2 small tailed bars form at the recent lows.

Current Notes: The bias remains very bearish whilst prices remain below the 1.2400 to 1.2560 resistance area.

Potential Trade Idea: We will continue looking to sell short on any pockets of strength OR on a price action sell signal whilst prices remain below the 1.2400 to 1.2560 resistance area, targeting further declines towards 1.1990 area.

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

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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.
  1. Jaya August 11, 2019 at 11:47 am

    Thx Sir

    Reply
  2. Mr Ali. August 10, 2019 at 2:53 am

    Thanks for the analysis Mr Fuller

    Reply

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