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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 3rd to 7th, 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 3rd to 7th, 2020

S&P 500 (Cash) 

Short Term Trend: Bullish

Short Term Key Levels: 2800, 2970, 3140-50 area, 3210-20 area, 3398

Price Action Signals: 2 successive Bullish Pin Bars have formed at 3210 support level late last week. The multiple Bullish Pin Bars that formed at the major 3140-50 support level several weeks ago have led to a massive surge higher (price action event area).

Potential Trade Idea: We will consider trading long from the Bullish Pin Bars after a pull back in prices whilst 3210 support holds, in anticipation of a bounce higher back towards 3290 and potentially 3398.

Get More S&P 500 Trade Ideas & Analysis – Sign up to the member’s daily trade setups ideas & chart analysis newsletter for more trade ideas and updates.

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

GOLD (Spot) 

Short Term Trend: Bullish

Short Term Key Levels: $1560, $1640, $1670, $1790, $1816, $1905 to $1915, ($2000 – round number projected target)

Price Action Signals: Multiple Inside Bars have formed within a giant Bullish Tailed Bar, right under the $2000 level (we will be difficult to trade due to size of the tailed bar, however a retracement to the lows of the tailed bar might be a more ideal entry point). Price recently broke up from a Bullish Pin Bar and subsequent Inside Bar pattern that formed around the $1790 to $1816 area (price action event area).

Potential Trade Idea: We will consider trading long if price retests the lows of the Bullish Tailed Bar around the $1905 level (and/or after a new price action signal to confirm an entry), in anticipation of a continuation higher towards $2000 again.

Get More GOLD Trade Ideas & Analysis – Sign up to the member’s daily trade setups ideas & chart analysis newsletter for more trade ideas and updates.

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

CRUDE OIL (Futures) 

Short Term Trend: Neutral

Short Term Key Levels: $28.60, $34.50, $36.20, $37.00, $41.50.

Price Action Signals: An Inside Bar formed right next to a Bullish Tailed bar late last week (combo pattern). (we will not be trading this as right under major resistance and in neutral trend). Price broke down from the Bearish Tailed Bar + Inside Bar combo pattern that formed 2 weeks ago, just under the $41.50 key resistance level,

Potential Trade Idea: We will consider trading short from the current bearish Tailed Bar + Inside Bar combo pattern that formed under the $41.50 resistance level, in anticipation of a break down lower towards $36.20 and then potentially $34.50.

Get More Crude Oil Trade Ideas & Analysis – Sign up to the member’s daily trade setups ideas & chart analysis newsletter for more trade ideas and updates.

NOTE – You can trade CRUDE OIL Futures 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. Mr Ali August 4, 2020 at 9:26 pm

    Thank you sir,much love.

    Reply
  2. Moses August 4, 2020 at 5:21 am

    Thanks Master

    Reply

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