Trade Ideas: S&P 500 Inside Bar Pattern Breaks Up & NZDUSD Consecutive Bearish Pin Bars – April 1st, 2021

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Commentary Disclaimer: This should not be considered financial advice or a recommendatdion 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.

S&P 500 – Cash

Key Levels: 3730, 3868, 3965, 3989

Price Action: Price broke higher from an Inside Bar Pattern that formed around the 3965 key level earlier this week. Price surged higher from the Bullish Pin Bar signal that formed last week at the 3868 support level “event area” (discussed in Tuesday’s commentary).

Potential Trade Idea: We are considering trading longs on a pullback to within the range of the recent Inside Bar Pattern (second chance entry). whilst price remains above the 3965 level.

NOTE – You can trade S&P 500 Cash via the trading platform we use HERE.

NZDUSD – Spot

Key Levels: 0.7000, 0.7105, 0.7268, 0.7304, 0.7464

Price Action: Two consecutive Bearish Pin Bar signals have now formed just under the 0.7000 short-term resistance level. Price is hovering within the range of the Bearish Pin Bar signal that formed at the 0.7000 short-term resistance level earlier this week (discussed in the previous commentary).

Potential Trade Idea: We are considering selling short from the two bearish Pin Bar signals, whilst price remains below the 0.7000 short-term resistance level.

NOTE – You can trade Spot NZDUSD 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.

Nial Fuller

About Nial Fuller

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.