Weekly Trade Ideas Newsletter by Nial Fuller – Dec 14th to Dec 18th, 2020

Note On Charts: It’s imperative 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.

Chart 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.

Weekly Trade Ideas Newsletter by Nial Fuller – Dec 14th to Dec 18th, 2020

EURUSD (Spot)

Short Term Trend: Bullish

Short Term Key Levels: 1.1180, 1.1415, 1.1500’s, 1.1610, 1.1750 to 1.1830, 1.1915, 1.1960, 1.2010-80, 1.2240.

Price Action Signals: Start of a Bullish Fakey setup commenced mid last week (false break out  of inside bar), and could break up at any moment.

Potential Trade Idea: We are considering trading longs from a bullish price action signal (eg: if the Bullish Fakey setup triggers to the upside), whilst price holds above the 1.1915  key support level.

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

USDJPY (Spot) 

Short Term Trend: Bearish

Short Term Key Levels: 101.00, 104.00 to 104.20, 104.80 to 105.20, 106.10 to 106.60, 106.90, 109.35.

Price Action Signals: Another Bearish Pin Bar forms under the 105.20 key level.

Potential Trade Idea: We are considering trading shorts from a price action sell signal (eg: Bearish Pin Bar), whilst price holds below the 105.20 to 106.10 resistance zone.

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

S&P 500 (Cash) 

Short Term Trend: Bullish

Short Term Key Levels: 2800, 2970, 3140-50 area, 3210-30 area, 3290, 3400 to 3430, 3500, 3550, 3585, 3675.

Price Action Signals: A small Bullish Pin Bar formed around 3673 (whilst this signal did not form at an ideal area on chart, it could be worth considering if we see a subsequent signal on the 4 hour or daily time frame to re confirm an entry). Price recently moved higher from a small Bullish Pin Bar signal that formed above the 3585 short term support level.

Potential Trade Idea: We are considering trading longs after a pull back in prices, and/or from a price action buy signal on the 4 hour or daily chart (eg: Pin Bar signal), from at or above the 3550 to 3585 short term support area.

NOTE – You can trade S&P 500 Cash via the preferred 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.