• Nial Fuller

    NIAL FULLER Nial Fuller
    Professional Trader, Author & Coach

    Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – April 6th to 10th, 2020

    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 Setups Ideas & Chart Analysis by Nial Fuller – April 6th to 10th, 2020

    GBPUSD 

    Trend: Bearish

    Relevant Key Levels: Resistance: 1.3190, 1.2770 and 1.2580. Support: 1.2020 and 1.1400.

    Price Action: Multiple Inside Bar cluster formed over past few days.

    Current Notes: Price collapsed below 1.2770 and 1.2580 resistance activating a short term bear market recently.

    Potential Trade Idea: We will consider looking to sell after a price action sell signal at or just below either the 1.2580 or 1.2770 resistance level. Targeting a move back down to 1.2020 and then possibly 1.1400.

    CRUDE OIL  

    Trend: Very Bearish

    Relevant Key Levels: Support $18.80 to $21.00. Resistance $27.80, $36.00, $41.50 and $49.50.

    Price Action: Pin Bar formed at $36.00 resistance levels recently. Gap in prices formed at $41.50 area (remains unfilled)

    Current Notes: Price remains very bearish whilst under the $36.00 and $41.50 levels (prior gap).

    Potential Trade Idea: We will consider selling on any bounce in prices and after a price action sell signal whilst prices hold below the $36.00 level, targeting a move back to the $21 region or possibly lower.

    HSI (Hang Seng Index) 

    Trend: Bearish

    Relevant Key Levels: Support: 20000, 21000 and 22100. Resistance 24800, 25280, 25880 and 26850.

    Price Action: Price collapsed dramatically after breaking below the neckline support of the giant head and shoulders pattern recently (event area).

    Current Notes: The short term bias is Bearish below the 24800 to 25880 resistance zone. Long term chart shows a classic bearish head and shoulders pattern which has triggered lower.

    Potential Trade Idea: We will consider selling on a retracement higher and retest of the key resistance area around 24800 to 25880 OR a price action sell signal around those levels, targeting a move back towards the 21,000 area (recent swing lows).

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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. Moses

      Thanks master

      Reply
    2. Noel

      Thank you for your effort.

      Reply
    3. Mr Ali

      Thanks for the analysis Mr fuller

      Reply

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