May Membership Special: Get 40% Off Life-Time Access To Nial Fuller's Price Action Trading Course & Daily Newsletter (Ends May 31st) -
Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Trading Opportunities in U.S. markets after Renewed Violatility, 31st July 2014

author thumb
By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | One Comment

Trading Setups / Chart in Focus:

S&P 500 – S&P sells off, bearish momentum takes hold

The S&P 500 sold off aggressively today following multiple recent failed attempts to extend the uptrend. We can see the price action has acted as a leading indicator yet again, cluing us into this potential move lower, and now that we have some ‘confirmation’ via today’s strong sell-off, we have to consider that at least a short-term top could be in place here. Thus, if we get a retrace back up to resistance, we can watch for price action sell signals. However, we would also be tempted to consider a buy signal should one form from a key support level.

sp500

EURUSD – Euro/dollar bearish bias remains

The EURUSD consolidated today, forming an inside bar in the process. Our outlook hasn’t changed on this market; looking for a sell signal, ideally after a rotation back to resistance either in the 8 / 21 day EMA layer or from a horizontal level / up near 1.3480 – 1.3500 area, to trade in-line with downtrend.

eurusd

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. Lakes August 1, 2014 at 10:55 am

    Market wizard..There you go again and that’s what I’ll always follow. My trading account grown fat and now I’m thinking of taking it to a gym by pulling out some $$$ to take myself, wife and lil son for a trip to Vegas, USA.
    Keep up the good job!

    Reply

Leave a Comment

Your email address will not be published. Required fields are marked *