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 – Feb 24th to 28th, 2020
NZDUSD – Look to sell on any strength + watch for a price action sell signal.
Relevant Key Levels: Resistance 0.6750 and 0.6440-70 area. Support 0.6200’s
Price Action: Price broke down from an Inside Bar pattern last week.
Current Notes: The bias is bearish whilst prices remain below 0.6440-70 area and the 0.6750 major resistance area.
Potential Trade Idea: We will consider selling on any retracement and after a price action sell signal, whilst prices remain below the 0.6440-70 resistance area. Initial downside targets to 0.6200’s.
NOTE – You can trade NZDUSD via the preferred trading platform we use HERE.
GOLD (XAUUSD SPOT) – Look to buy on any weakness + watch for a price action buy signal.
Relevant Key Levels: Support at $1525 to $1540 area and $1610 to $1620 area. Resistance $1800 to $1850
Price Action: Prices exploded through the $1610 major resistance (now an ‘event area’ ). Price broke up from an Inside Bar pattern last week.
Current Notes: Prices remain supported atop $1610 key level.
Potential Trade Idea: We will consider looking to buy on weakness whilst price holds atop the $1610 key support area and/or after a price action buy signal, targeting a move up to $1800 to $1850 initially.
NOTE – You can trade Spot GOLD via the preferred trading platform we use HERE.
CRUDE OIL (WTI CASH) – Look to sell on any strength + watch for a price action sell signal.
Relevant Key Levels: Support at $49.50 to $50.00. Resistance $59.45, $58.60 and $55.00
Price Action: Price fell from a Pin bar signal that formed at $55.00 resistance late last week.
Current Notes: Price remains under the significant resistance levels at $55.00 and $58.60’s
Potential Trade Idea: We will consider selling on a bounce in prices and after a price action sell signal whilst prices remain below the $55.00 resistance area, targeting a move back to the $49.50 to $50.00 area.
NOTE – You can trade CRUDE OIL via the preferred trading platform we use HERE.
Note 1: Download a Free Trial of the Broker & Charting Platform We Use HERE.
Note 2: Get Daily Trade Ideas & Chart Analysis From Nial Fuller Every Day …
All Members of Nial Fuller’s trading courses & members area get access to Nial’s daily trade setups ideas newsletter. You will get potential trade ideas and technical chart analysis on Currency Pairs, Commodities, Stock Indices and more. For More Info Visit the Course Membership Page Here.
Please Leave A Comment Below