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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Trade Ideas: GOLD Fakey Signal + Pin Bar & USDJPY Inside Bar Breaks Down – April 29th, 2020

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.

GOLD (Spot) – Potential Bullish Fakey Setup + Pin Bar Forms Early This Week.

Trend: Long Term Bullish

Relevant Key Levels: Support at $1445 and $1535 to $1565 and $1590. Resistance $1690 to $1700.

Price Action: The start of a bullish Fakey Setup + Pin Bar formed early this week, just above $1690.

Current Notes: Short term support remains around the $1535 to $1565 area. Price tested and held above the $1445-$1455 major support in the recent past.

Trade Idea: We will continue to consider looking to buy on any short term retracement lower and after a price action buy signal (Start of Fakey + Pin Bar had formed early this week), whilst prices hold above the $1535 to $1565 short term support area, targeting a move back up to $1700 and then $1745 (recent highs)

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

USDJPY (Spot) – Multiple Inside Bar Cluster Breaks Down.

Trend: Neutral

Relevant Key Levels: Support at 101.15, 104.80 and 107.00.  Resistance 111.70 to 112.00

Price Action: The multiple Inside Bar cluster broke down early this week.

Current Notes: A short term sideways range exists between 112.00 and 101.15.

Trade Idea: We had previously considered looking to trade the break out from the Inside Bar pattern (already triggered). Downside targets 106.70 and potentially lower.

NOTE – You can trade Spot USDJPY 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. Mr Ali April 30, 2020 at 12:39 am

    Clear and direct as always,thanks my mentor.

    Reply
  2. Jarvis April 29, 2020 at 11:16 pm

    Nial Fuller,Thank you very much for your hard work, let me learn a lot of things and start to make money, thank you very much, I hope you will be healthy and happy in your life!

    Reply

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