Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – July 30th to 3rd August, 2018
Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.
Disclaimer: Nial’s views and comments on the following markets and charts is not advice or a recommendation, it is for educational and general information only.
WEEKLY PRICE ACTION TECHNICAL ANALYSIS & TRADE SETUPS IDEAS – July 30th to August 3rd, 2018
All charts illustrated are daily chart time frames unless marked otherwise.
GBPUSD
Summary: Long term down trend remains in tact with nearby resistance levels at 1.3318-1.3440. Price could pop up in the short term, however it’s likely prices will experience sell pressure from nearby resistance.
Trade Idea: Sell short on any price strength under 1.3318-1.3440 resistance or wait for a price action sell signal on 4 hour or daily chart.
USDJPY
Summary: Long term up trend remains in tact with nearby support at 110.80-111.00. Over the last few days we can see multiple Tailed Bar buy signals forming at this support area. If support holds here we could see a substantial move back towards 113.18.
Trade Idea: Wait for a price action buy signal above 110.80-111.00 support.
GOLD
Summary: Down trend remains in tact with nearby resistance at 1237 and 1266. Price could pop up in the short term, however it’s likely prices will experience sell pressure from nearby resistance. As mentioned last week, we are avoiding trading pin bar signals that form against the current trend.
Trade Idea: Sell short on any price strength under 1237 to 1266 or wait for a price action sell signal on 4 hour or daily chart.
CRUDE OIL
Summary: Up trend remains in tact with nearby support levels at 66.25 to 64.10. It’s likely prices will continue to experience buying pressure from nearby support.
Trade Idea: Wait for a price action buy signal above 64.100 support
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Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.
your technical analysis is very encouraging. thanks
Great trade ideas
USD/JPY spot on!!!!
goood
tnx mr fullers your analis is very goooooood