Nial Fuller

NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

Trade Ideas: GBPJPY Weekly Pin Bar & GOLD Breaks Lower From Fakey Setup – August 10th, 2021

Note On Charts: It’s important you are trading with a broker that offers True 5 Day New York Close Charts.

Disclaimer: This newsletter 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.

GBPJPY – Spot: Weekly Chart

A Bullish Long Tailed Pin Bar Signal formed several weeks ago.

The market is consolidating within a long term up trend.

There is strong support at 149.00 (low of the tail of the recent pin bar).

We are considering buying on weakness and/or after a price action buy signal, whilst price remains above the 149.00 support zone.

GOLD – Spot: Daily Chart

A Bearish Pin Bar + Fakey Setup triggered a substantial collapse last week (discussed in previous commentary on August 5th).

The market is now down trending strongly.

There is strong resistance at both the $1750’s and $1830’s levels.

We are considering selling on a retracement higher and/or after price action sell signal, whilst price remains below the $1750’s resistance level.

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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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