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NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

Trade Ideas – GBPJPY: Inside Bar Breakout & Crude Oil: Buying A Pullback – Feb 4th, 2022

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GBPJPY – SPOT

Price Action: Price exploded higher from the Inside Bar Breakout Pattern that had formed, earlier this week (We suggested buying the breakout above that pattern in the February 2nd Newsletter).

The recent Bearish Fakey Setup, failed (We did not consider trading this setup and hopefully saved some members on this market).

Potential Trade Idea: We are still considering buying if price pulls back to the current Inside Bar Breakout area.

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

Crude Oil – Futures

Price Action: The recent Bearish Tailed Bar Signal, failed (We did not consider trading this signal and hopefully saved some members on this market).

Price moved significantly higher from the prior Bullish Tailed Bar Signal + Inside Bar Breakout Pattern (Combo Setup) that had formed just under the $84.91 – $85.41 prior resistance area – which now acts as a short-term support area, also a minor Event area.

Potential Trade Idea 1: For more aggressive traders, we are considering buying on a retracement lower and after a clear price action buy signal, at or around the $84.91 – $85.41 short-term support area (Minor Event Area)

Potential Trade Idea 2: We are still considering buying on a deeper pullback and/or after a price action buy signal, whilst price holds above the $74.17 – $77.46 short-term support area.

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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