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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – Feb 4th to 8th, 2019

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | 2 Comments

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).
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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.

Daily Trade Setups Ideas & Chart Analysis by Nial Fuller – Jan 31st, 2019

TECHNICAL PRICE ACTION ANALYSIS:

All charts illustrated are daily time frame candlestick charts unless marked otherwise.

EURUSD – Bearish signals form under 1.1490 resistance.

Trend: Bearish

Key Levels: Resistance 1.1490, 1.1615 and 1.1820. Support 1.1218 to 1.1300.

Price Action: 2 bearish tailed bars at resistance (not quite an inside bar combo). Price had recently false broke above 1.1490 and reconnected back down.

Current Notes: The bias is still mildly bearish beneath 1.1490 to 1.1615 resistance.

Potential Trade Idea: Consider trading the current sell signals and go short whilst 1.1490 resistance holds, targetting 1.1350 1.1200 area.

GOLD – Looking for potential buy entry on a pullback to support.

Trend: Bullish

Key Levels: Support at $1237, $1266, $1280 and $1215. Resistance at $1305 and $1355.

Price Action: Major break above $1237 to $1266 resistance levels have activated new bullish swing higher several weeks ago, becoming the new line in the sand for bulls.

Current Notes: The bias is bullish above $1237 to $1266 support, we would prefer buying on any short term pullbacks. Target a move higher into the next resistance at $1305 and $1355, but beware a strong bearish reversal in this region is likely.

Potential Trade Idea: We will consider buying on a bullish price action signal that forms around relevant nearby support areas at $1237, $1266 or $1280ish,  Targetting a move to $1305 or $1355.

CRUDE OIL – Still bearish under $58.20 major technical resistance.

Trend: Bearish

Key Levels: $58.20 resistance. $54.50 and $42.30 support.

Price Action:  A failed bearish pin bar last week activated a move to higher prices. Long term downtrend still remains after a major break down below $58.20 long term support level recently (now resistance).

Current Notes: The bias remains bearish beneath the $58.20 resistance level. We are looking for sell signals from near or just under resistance.

Potential Trade Idea: We will consider selling on a bearish price action signal from around /under the $58.20 resistance zone. Targeting a move back to $54.50 initially and potentially lower towards $50.00ish

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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. Truong February 10, 2019 at 7:25 am

    Thanks!

    Reply
  2. Ehab February 7, 2019 at 3:43 pm

    Thank you for help

    Reply

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