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NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

Trade Ideas: SPI 200 Inside Bar Pattern & AUDUSD Bullish Fakey Setup – April 6th, 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.

AUDUSD – Spot

Key levels: 0.7562, 0.7620, 0.7705, 0.7806 – 0.7838, 0.8006

Price Action: Price surged overnight from the Bullish Fakey + Pin Bar signal that formed at the 0.7562 support level late last week (discussed in last Friday’s newsletter). The price tested and held the 0.7562 major support level late last week.

Potential Trade Idea: We are still considering trading longs from the Bullish Fakey + Pin Bar signal, whilst the price remains above the 0.7562 major support level.

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

SPI 200 – Cash

Key levels: 6511, 6561, 6658, 6761, 6862, 6900, 6920

Price Action: Price opened with a Gap up today and violently broke above the Inside Bar Pattern that formed above the 6761 short-term support level late last week (discussed in Monday’s newsletter). Price saw strong buying pressure from the 50% range of the recent Bullish Tailed Bar that formed at the 6761 short-term support level mid-last week (discussed in last Thursday’s members newsletter). Two bullish Long-Tailed Pin Bars formed at the 6658 key support level over the past few weeks (discussed in last Monday’s members newsletter).

Potential Trade Idea: We are considering trading longs on a retracement lower to within the range of the recent Inside Bar Pattern, whilst price remains above the 6761 short-term support level.

NOTE – You can trade SPI 200 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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  1. Moses

    A big thank you

    Reply

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