Nial Fuller

NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

Weekly Trade Ideas Newsletter: GBPUSD, GOLD & SPI 200 – April 19th to 23rd, 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.

GBPUSD – Spot

Key levels: 1.3570, 1.3620, 1.3671, 1.3702, 1.3760, 1.3917, 1.4002, 1.4236

Price Action: Price formed a Bullish Fakey +  Giant Tailed Bar setup within the 1.3671 – 1.3759 key support range late last week (Price initially false break down below the inside bar pattern that we discussed in the last Friday’s members newsletter, before aggressively reversing back up to form a Bullish Fakey setup). Price broke out from the Inside Bar + Pin Bar combo pattern that had formed just above the 1.3671 key support level early last week (discussed in last Wednesday’s newsletter). Price moved higher from the bullish Tailed Bar signal that had formed just above the 1.3671 key support level over a week ago (discussed in the previous weekly newsletter).

Potential Trade Idea: We are considering trading longs on retracement lower to within the range of the Bullish Fakey +  Giant Tailed Bar setup, whilst price remains above the 1.3671 – 1.3759 key support range.

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

GOLD – Spot

Key levels: $1676, $1755 – $1764, $1790, $1816, $1823, $1852, $1861, $1874

Price Action: Price moved higher and reconnected above the prior $1755 – $1764 key resistance zone which now becomes a new key support zone, late last week. Early last week, price invalidated the bullish Tailed Bar signal that had formed just under the $1755 – $1764 resistance zone over a week ago (not a signal we had been considering trading at the time). Just over a week ago, price broke above the recent Inside Bar pattern that had formed just under the $1755 – $1764 resistance zone (we discussed not trading this signal, as it was counter-trend, and had formed just under a key resistance zone).

Potential Trade Idea: We are considering trading longs on a retracement lower and only after a substantial price action buy signal on the daily or 4 hour chart time frame, at or around the $1755 – $1764 key support zone.

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

SPI 200 – Cash

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

Price Action: Late last week, price formed a Bullish Pin Bar signal at all-time highs. Price broke out from the Multiple Inside Bar Pattern that had formed just above the 6862 – 6920 major support level early last week. Price didn’t end up triggering the potential Bearish Fakey + Pin Bar setup that had formed just above the 6862 – 6920 major support zone early last week (We had mentioned not considering trading this potential Bearish Fakey + Pin Bar signal, as we are in an aggressive uptrend and the setup had formed just above the 6862 – 6920 major support zone – discussed in last Thursday’s members newsletter). Over a week ago, price broke out strongly above the 6920 major resistance level (discussed in April 8th newsletter).

Potential Trade Idea:

Trade Idea 1: We are considering trading longs on a retracement lower to within the range of the recent Multiple Inside Bar Breakout, whilst price remains above the 6862 – 6920 major support zone.

Trade Idea 2: Aggressive traders might consider trading longs from the Bullish Pin Bar signal, in anticipation of the recent bullish momentum continuing and taking prices to new all-time highs.

NOTE – You can trade SPI 200 Cash via the trading platform we use HERE.

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Please Leave A Comment Below With Your Questions or Feedback.

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. nafea

    nice I’m happy to learn from you

    Reply
  2. Edward Showers

    Hi Nial
    This is where I really need your help. Both my EUR/USD trade and GBP/USD have hit my
    2-1 risk reward. I don’t yet have an exitGood one) that I feel good about! I don’t want to appear
    greedy, but one of them seem to have more to go.
    Best Regards Edward Showers [email protected],com

    Reply
    • As long as you executed and managed those trades as per your trading plan, you should be feeling good. You can’t control the market and should not feel bad about the market going up after you took your profits in a buy trade, as the market will go where it wants to go.

      Reply
  3. EZEH

    Thank you sir! I will keep my eyes there!

    Reply
  4. Rehan Azmi

    👌thanks

    Reply
  5. Moses

    Wow. Quickest of all time trade update. Thanks Nial

    Reply

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