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Nial Fuller

NIAL FULLER
Professional Trader, Author & Coach

Weekly Trade Ideas & Price Action Analysis by Nial Fuller – April 5th to 9th, 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: 1.3564, 1.3668, 1.3759 – 1.3777, 1.4002, 1.4236

Price Action: Price saw strong buying pressure above the 1.3759 – 1.3777 major support zone late last week. Price broke below the 1.3759 – 1.3777 support zone early last week and later re-connected back above that zone. A bearish Pin Bar signal formed at the 1.3759 – 1.3777 major support zone early last week, however, we did not consider trading this signal as it formed just above a major support zone.

Potential Trade Idea: We are still considering trading longs on a retracement in prices and from a price action buy signal, whilst price holds above the 1.3759-1.3777 support zone.

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

USDJPY – Spot

Key levels: 104.90, 105.77, 106.20, 108.40, 109.29, 109.85, 111.70

Price Action: Price formed a multiple Inside Bar Pattern above the 109.29 – 109.85 support zone late last week. (This pattern is also a potential minor Fakey setup if prices break back above the mother bar, i.e A False break of the Inside Bar and reversal back up). Price broke higher from the Inside Bar + Pin Bar combo pattern that formed at the 109.29 support level early last week (discussed in last Tuesday’s newsletter).

Potential Trade Idea:

Trade Idea 1: We will consider waiting for a breakout above the multiple Inside Bar Pattern, whilst price holds above the 109.29 – 109.85 range.

Trade Idea 2: We are still considering trading longs on a pullback to within the range of the recent Inside Bar + Pin Bar Combo Pattern (second chance entry), whilst price remains above the 109.29 support level.

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

AUDUSD – Spot

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

Price Action: Price formed a Bullish Fakey setup + Pin Bar signal just above the 0.7562 major support level late last week (discussed in last Friday’s newsletter). 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: An Inside Bar Pattern formed above the 6761 short-term support level late last week. 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 the members newsletter last Thursday). Two bullish Long-Tailed Pin Bars formed at the 6658 key support level over the past few weeks (discussed in the members newsletter last Monday’s).

Potential Trade Idea:

Trade Idea 1: We are considering trading longs on a retracement lower to within the range of the recent Bullish Tailed Bar, whilst price remains above the 6761 short-term support level.

Trade Idea 2: We are considering trading longs on a breakout of the Inside Bar pattern, whilst price remains above the 6761 short-term support level.

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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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. Joe April 8, 2021 at 11:57 pm

    Nial
    What is going to happen to the Forex market if we go to a one world currency?

    Reply
    • Nial Fuller April 9, 2021 at 5:17 pm

      We won’t be going to a one-world currency, it’s impossible if you understand how economics and the financial system works, so let’s not worry about it.

      Reply
  2. Femi April 6, 2021 at 12:19 pm

    I am new here
    Nice thought but some how confusing
    Please sir I need more lite concerning
    Stop loss and take profit

    Reply
  3. Nikhil Tripathi April 5, 2021 at 7:50 pm

    Dear Sir,

    I am new to your blog, hence It is little difficult to analyze and understand what you said.

    Reply
    • Nial Fuller April 5, 2021 at 9:38 pm

      Stick with it and continue to study all the content on the blog and it will fall into place over time.

      Reply
    • Khesiwe April 5, 2021 at 10:06 pm

      Thank you Nial, you always hit it on the nail

      Reply
      • Nial Fuller April 6, 2021 at 12:45 am

        Cheers, thanks for the feedback, glad your enjoying the trade ideas.

        Reply
  4. Moses April 5, 2021 at 6:14 am

    Thank you.
    First time am witnessing you (Nial) posting at this time.

    Reply
    • Nial Fuller April 5, 2021 at 6:47 pm

      We will regularly post the commentary around the same time during Sunday – Friday

      Reply
  5. Mr Ali April 5, 2021 at 4:53 am

    Nail your trading spirit is up this days… It’s making me happy seeing you posting analysis like this. Thanks and keep the good work up sir

    Reply
    • Nial Fuller April 5, 2021 at 7:28 pm

      You are Welcome! We will continue to post the daily commentary as opportunities in the market present themselves.

      Reply

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