• Nial Fuller

    NIAL FULLER Nial Fuller
    Professional Trader, Author & Coach

    Trade Ideas: GBPUSD Price Surges From Tailed Bar Signal & EURUSD Potential Fakey Setup – April 13th, 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).
    Download a demo of our Preferred Broker & Charting Platform Here.

    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.

    EURUSD – Spot

    Key levels: 1.1704, 1.1833, 1.1988, 1.2180, 1.2243

    Price Action: Price formed a Multiple Inside Bar + Pin Bar combo pattern just above the 1.1833 short-term support level overnight (we are not trading this signal as it would effectively be trading a breakout into a key resistance level, and the overall trend is still technically bearish). Last Thursday Price invalidated the recent bearish Pin Bar signal, that formed above the 1.1833 short-term support level early last week (we had mentioned not considering trading this signal as it had a narrow range, formed in no man’s land, and was just above the 1.1833 short-term key level – discussed in last Thursday’s members newsletter).

    Potential Trade Idea:

    Trade Idea 1: We are considering selling short on a retracement higher and from a price action sell signal at or around the 1.1988 key resistance level.

    Trade Idea 2: We are considering trading longs from a Potential Bullish Fakey setup (False break down below the Multiple inside bar pattern and then reversal back up), at or around the 1.1833 short-term support level.

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

    GBPUSD – Spot

    Key levels: 1.3570, 1.3620, 1.3671, 1.3702, 1.3760, 1.3917, 1.4002, 1.4236

    Price Action: Price moved higher from the bullish Tailed Bar signal that had formed just above the 1.3671 key support level late last week (discussed in Monday’s weekly newsletter). Price formed a bearish Pin Bar signal just above the 1.3671 – 1.3702 support zone late last week (we had mentioned not considering trading this signal as it had formed just above a key support zone – discussed in last Friday’s members newsletter).

    Potential Trade Idea: We are still considering trading longs on a retracement lower and after a price action buy signal on the 4 hour or daily chart time frame, at or just above the 1.3671 major support level.

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

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    Please Leave A Comment Below With Your Questions or Feedback.

    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. Moses

      Thanks Sir

      Reply
    2. Mr Ali

      Thanks alot for the analysis, really appreciating what you are doing.

      Reply
    3. Anggara

      I am very surprised at your analysis of GBP / USD that the signal is a bullish tailed bar. I have often neglected that tailed pattern and now because of your post that I have learned a lot more about how you view the market.

      Amazing Sir.

      Reply

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