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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 24th to 28th, 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 24th to 28th, 2020

GBPUSD (Spot) 

Short Term Trend: Bullish.

Short Term Key Levels: 1.2250, 1.2500, 1.2640 to 1.2660 area, 1.2725, 1.2810, 1.2980, 1.3180 to 1.3200 area.

Price Action Signals: Price moved up from a Bullish Pin Bar that formed at the 1.2980 level several weeks ago. (event area)

Potential Trade Idea: We will consider trading long after a price retracement and after a price action buy signal on the daily chart timeframe to confirm an entry, whilst prices hold above the 1.2640 t0 1.2810 key support area, in anticipation of a bounce higher back towards the 1.3180 level.

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

GOLD (Spot) 

Short Term Trend: Bullish

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

Price Action Signals: A Pin Bar formed at the $1905 support level late last week (a key area we have been watching for buying opportunities). Price surged higher from a giant Bullish Tailed Bar Signal that formed at the $1866 level last week (event area).

Potential Trade Idea: We will once again consider trading long after a retracement to around the $1866 to $1905 support area, and after a price action buy signal on the 4 hour chart timeframe or daily chart timeframe to confirm an entry, in anticipation of a move higher back towards $2000 and then possibly back to $2070 (recent all time high).

NOTE – You can trade Spot GOLD 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, 3398

Price Action Signals: Price is breaking up from a set of 2 Bullish Pin Bars that formed late last week. Price broke up strongly from the 2 successive Bullish Pin Bars that formed at the 3210 support level several weeks ago (huge price action event area).

Potential Trade Idea: We will continue to consider trading long after a retracement in prices and / OR after a price action signal on the daily chart timeframe to confirm an entry, whilst the 3210 support level holds (price action event area), in anticipation of a move higher back towards 3398 (old high) and then 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 & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ 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 August 26, 2020 at 2:52 am

    Thanks Master

    Reply
  2. Kurt Ray August 25, 2020 at 9:30 pm

    Hello, Nial. How about Weekly Pin on GBPUSD?

    Reply
    • Sirkay August 26, 2020 at 2:53 am

      it’s weekly Fakey at July high

      Reply
  3. Mr Ali August 25, 2020 at 7:21 pm

    Killer analysis, thank you mentor.

    Reply

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