Note On Charts: It’s imperative you are trading with a broker that offers ‘New York Close Charts‘, (a true 5 day chart that aligns with the true New York Close). Download a demo of our Preferred Broker & Charting Platform HERE.
Chart Commentary Disclaimer: This should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments.
Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – September 21st to 25th, 2020
AUDUSD (Spot) – Waiting for a minor pull back to nearby support.
Short Term Trend: Bullish
Short Term Key Levels: 0.6560, 0.6670, 0.6970, 0.7050-60 area, 0.7200.
Price Action Signals: Choppy conflicting bullish and bearish tailed bars in recent days.
Potential Trade Idea: Considering longs on price weakness whilst price remains above the 0.7060 key support level, in anticipation of a bounce back towards 0.7395 and beyond.
NOTE – You can trade Spot AUDUSD via the preferred trading platform we use HERE.
USDJPY (Spot) – Breaking down from multiple inside bar pattern.
Short Term Trend: Bearish
Short Term Key Levels: 101.00, 104.20 to 105.00, 106.10, 106.60 to 106.90 area, 109.35
Price Action Signals: Bearish Multiple Inside Bar pattern finally broke down last week.
Potential Trade Idea: Considering shorts on price strength whilst price remains contained below the 106.90 resistance area, and after a price action signal to confirm an entry, in anticipation of a collapse back towards 104.20 and 101.00.
NOTE – You can trade Spot USDJPY via the preferred trading platform we use HERE.
CRUDE OIL (Futures) – Looking for selling opportunities under nearby resistance.
Short Term Trend: Short Term Bearish
Short Term Key Levels: $28.60, $34.50, $38.60, $41.50 to $42.50 area, $43.50, $48.50.
Price Action Signals: None.
Potential Trade Idea: Considering trading shorts on price strength, whilst price holds below the $41.60 to $43.50 resistance area, targeting a move back to $38.60 and $34.50.
NOTE – You can trade CRUDE OIL Futures via the preferred trading platform we use HERE.
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Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.