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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

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

EURUSD – Looking To Sell On Any Strength Whilst Below 1.1180 Resistance.

Trend: Bearish

Relevant Key Levels: Resistance at 1.1180, 1.1240 and 1.1280. Support at 1.0805, 1.0925 and 1.0980.

Price Action: We saw a small Bullish Pin Bar formed at 1.0980 support last week, with prices bouncing hard into last weeks close. Several Bearish Pin Bars recently formed below 1.1180 resistance and have sent prices lower.

Current Notes: The long term bias remains bearish as prices remain contained below the 1.1180 to 1.1280 long term resistance range.

Potential Trade Idea: We will continue to consider selling short on any short term bounce in prices and/or after a bearish price action signal, whilst prices remain below the 1.1180 and 1.1280 resistance areas. Initial downside targets to 1.0925 to 1.0980.

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

GOLD (SPOT) – Looking To Buy Weakness Whilst Above $1510 to $1525 Support.

Trend: Bullish

Relevant Key Levels: Support at $1440 to $1450 and $1510 to $1525 area. Resistance at $1610 to $1620 area.

Price Action: Price has moved up from a multiple Inside Bar Pattern 2 weeks ago. A massive bearish Pin Bar formed at the $1610 resistance area 4 weeks ago.

Current Notes: The bias is mildly bullish whilst prices remain atop $1510 to $1525 key support area, however, prices may experience strong sell pressure at the $1610 to $1620 on the next test of this level.

Potential Trade Idea: We will consider looking to buy on weakness whilst price holds atop the $1510 to $1525 short term support area and/or after a price action buy signal, targeting a move up to $1610 to $1620 recent swing high resistance area initially.

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

S & P 500 (CASH) – Waiting For A Clear Buy Signal After A Retracement Lower.

Trend: Bullish

Relevant Key Levels: Support at 3160 to 3180, 3070, 3025, 2960 and 2860-80. Resistance 3260’s

Price Action: Recently we saw a massive Bullish Pin Bar as part of a Bullish Fakey pattern form at the 3180 short term support level (event area).

Current Notes: There is short term support around the 3160 to 3180 support level. The bias is still very bullish long term whilst prices hold above 3025 to 3070 support area.

Potential Trade Idea: We will continue to consider buying on a retracement lower in prices AND after a clear price action buy signal at the 3160 to 3180 support area OR at the 3025 to 3070 Support area, targeting a move back towards the 3260 initially.

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

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Please Leave A Comment Below 

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.

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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.
  1. Mr. Ali February 5, 2020 at 9:42 pm

    I just wonder how you are able to communicate with the market like this, getting almost exact messages as to what will happen next…well one day, just one day i hope to be like this.

    Reply
  2. Moses February 5, 2020 at 12:59 am

    Thanks master for your guidance. From your weekly post I can see the thinking.
    Most especially since early this year. You stuck to EUR/USD

    Reply

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