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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

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

GBPUSD (Spot)

Trend: Bearish / Neutral

Relevant Key Levels: Resistance: 1.3190, 1.2770 and 1.2640. Support: 1.2020 and 1.1400.

Price Action: Inside Bar Pattern formed under 1.2640 resistance. (Watch for potential bearish Fakey pattern or Inside bar break down)

Current Notes: Price collapsed below both 1.2770 and 1.2640 levels activating a short term bear market recently.

Trade Idea: We will consider looking to sell after a price action sell signal, at or just below either 1.2640 area or 1.2770 resistance level. Targeting a move back down to 1.2020 and then possibly 1.1400.

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

S & P 500 (Cash)

Trend: Bearish

Relevant Key Levels: Support at 2200, 2430 and 2600-2650. Resistance at 2960, 3030, and 3130

Price Action: There is a prior gap fill resistance around 2960 (event area).

Current Notes: The short bias remains bearish whilst prices hold beneath 2960, 3030 and 3130 levels.

Trade Idea: We will consider selling on a retracement higher AND after a clear price action sell signal at or just below the 2960 resistance area, ( ideally looking for a sell signal at or just under the gap fill area at 2960 (the same scenario we discussed last week) ), targeting a move back towards 2600-2645 and then and then potentially 2500’s and 2400’s.

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

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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. Raz T May 8, 2020 at 5:30 am

    Thank you, Sir.
    I was trading blindfolded. Now, after a few days of reading your articles and following your steps, not only I have reduced the amount of money that I am loosing but I gained something much more important, KNOWLEDGE. I still have a long way till I will have my financial freedom and the lifestyle I want but as least I know I am on the right path and I am following the right teacher.

    Thank you once again.

    Reply
  2. Mr Q May 7, 2020 at 2:49 am

    you are at another level . Many thanks Sir for analysis .

    Reply
  3. Moses May 6, 2020 at 5:17 pm

    Thanks master

    Reply
  4. Erdal May 6, 2020 at 5:00 pm

    Looks like a consolidation is on the way. Thank you.

    Reply

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