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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Ideas & Chart Analysis by Nial Fuller – August 5th to 9th, 2019

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.

Weekly Trade Ideas & Chart Analysis by Nial Fuller – August 5th to 9th, 2019

All charts illustrated are daily time frames unless marked otherwise.

GBPUSD – Bearish Trend Persists Below 1.2580 Major Resistance

Trend: Bearish

Relevant Key Levels: Resistance 1.2820-70, 1.2770, 1.2580, 1.2380 to 1.2430. Support 1.1990.

Price Action: A Bearish Pin Bar formed mid-last week around the recent lows. 2 small tailed bars form at the recent lows. Price broke down from a multiple inside bar cluster early last week.

Current Notes: Price recently tested the 21 day EMA briefly and repelled lower aggressively. The bias remains very bearish whilst prices remain below the 1.2400 to 1.2560 resistance area.

Potential Trade Idea: We will continue looking to sell short on any pockets of strength whilst prices remain below the 1.2400 to 1.2560 resistance area, targeting further declines towards 1.1990 to 1.2100 area.

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

GOLD – Bullish Fakey Signal Triggers After Test Of $1400 Support Holds

Trend: Bullish

Relevant Key Levels: Support at $1305-$1325, $1350, $1380 and $1400.  Resistance at $1450 area.

Price Action: Giant Bullish Fakey forms on gold last week.

Current Notes: Price tests $1400 then bounces aggressively last week. The bias is still bullish whilst prices remain supported above the $1380 to $1400 key support levels. The strategy of choice continues to be buying on any pockets of weakness.

Potential Trade Idea: We will continue to consider buying Gold on any weakness OR on after a clear price action buy signal whilst price remains above the $1380 to $1400 short term support area.

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

CRUDE OIL – Bearish Fakey Sell Signal Triggers After False Break Of $57.50

Trend: Bearish

Relevant Key Levels: Support at $51.20, $54.00 to $55.00  Resistance $66.60, $63.50, $60.30, $57.50.

Price Action: A giant Bearish Fakey Setup triggered late this week.

Current Notes: The bias is bearish whilst prices remain contained beneath the $57.50 to $60.20 resistance level. Price had collapsed lower several weeks ago after testing the $60.20 resistance zone.

Potential Trade Idea: We will consider selling short on any pockets of strength whilst prices remain below the $57.50 to $60.20 resistance area, targeting a move back to $54.00 and then $51.00.

NOTE – You can trade CRUDE OIL 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. Matt August 7, 2019 at 7:24 pm

    Loving your articles Nial. I have tryed to download your preferred trading platform but windows won’t allow me to do it. Any other platforms with the New York close anyone can recommend? Cheers

    Reply
  2. Mr. Ali August 5, 2019 at 9:41 pm

    Have been waiting for this,thank you very such my able mentor and trading godfather.

    Reply

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