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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 17th to 21st, 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 Setups Ideas & Chart Analysis by Nial Fuller – August 17th to 21st, 2020

AUDUSD (Spot) – Looking to buy on weakness whilst the 0.7050-60 support area holds.

Short Term Trend: Bullish

Short Term Key Levels: 0.6560, 0.6670, 0.6970, 0.7050-60, 0.7200.

Price Action Signals: Price moved up from a Bullish Pin Bar that formed last week right above the 0.7050-60 support level.

Potential Trade Idea: We will continue to consider trading long after a price retracement, and after a price action buy signal on the 4 hour or daily chart timeframe to confirm an entry, whilst prices remain above the 0.7050-60 support area, in anticipation of a continuation higher towards 0.7200 and then potentially 0.7395.

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

GOLD (Spot) – Looking to buy on weakness whilst the $1866-$1905 support area holds.

Short Term Trend: Bullish

Short Term Key Levels: $1560, $1640, $1670, $1790, $1816, $1866, $1905 to $1915, $1980, $2000, $2070

Price Action Signals: Price retested the prior ‘event area‘ around $1905 short term key level last week, then formed a giant Bullish Tailed Bar signal, and has surged higher from an Inside Bar Pattern late last week.

Potential Trade Idea: We will again consider trading long after a deeper retracement to around the $1866 to $1905 support area (the same trade idea we discussed last week), and after a price action buy signal on the 4 hour or daily chart timeframe to confirm an entry, in anticipation of a move higher back towards $2000 and then possibly back to $2070.

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

S&P 500 (Cash) – Looking to buy on weakness whilst the 3210 to 3290 support area holds.

Short Term Trend: Bullish

Short Term Key Levels: 2800, 2970, 3140-50 area, 3210-30 area, 3290, 3398

Price Action Signals: Price has formed a Multiple Inside Bar pattern over the past week (this consolidation pattern looks likely to break up). Price broke up strongly from the 2 successive Bullish Pin Bars that formed at the 3210 support level over 2 weeks ago (huge price action event area).

Potential Trade Idea: We will consider trading long after a retracement in prices and /or after a price action buy signal on the daily chart timeframe to confirm an entry, whilst the 3210 to 3290 support area holds (price action event area), in anticipation of a move higher back towards 3398 (old high) and beyond (new highs)

NOTE – You can trade S&P 500 Cash via the preferred trading platform we use HERE.

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Please Leave A Comment Below 

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. Kingkamol August 20, 2020 at 7:06 pm

    Thank you so much Master

    Reply
  2. Mr Ali August 20, 2020 at 4:26 am

    Thank you my mentor.

    Reply
  3. Moses August 19, 2020 at 3:39 pm

    Thanks Master

    Reply

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