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 7th to 11th, 2020
AUDUSD (Spot) – Pin Bar Signal forms after pull back to support.
Short Term Trend: Bullish
Short Term Key Levels: 0.6560, 0.6670, 0.6970, 0.7050-60 area, 0.7200.
Price Action Signals: Bullish Pin Bar formed at 0.7230 level late last week. (signal formed after a decent retracement to a key level so is worth considering).
Potential Trade Idea: We will consider trading long after a retracement, and after a price action buy signal on the 4 hour or daily chart timeframe to confirm an entry, whilst prices remain above the 0.7050-60 key support area, in anticipation of a continuation higher towards the 0.7395 level and beyond.
NOTE – You can trade Spot AUDUSD via the preferred trading platform we use HERE.
DAX 30 (Cash) – Bearish Weekly Pin Bar Signal forms after false break out of overhead resistance.
Short Term Trend: Neutral
Short Term Key Levels: 11225, 11550, 11920, 12280, 12400, 12630, 12800 to 12900 area, 13290, 13800.
Potential Trade Idea: We will consider trading short after a minor retracement towards the 12900 to 13290 resistance area, and/or after a price action signal to confirm an entry. Targeting a move back to the 12280 level initially.
NOTE – You can trade DAX 30 Cash via the preferred trading platform we use HERE.
S&P 500 (Cash) – Looking to buy from major support level after the recent correction lower.
Short Term Trend: Bullish
Short Term Key Levels: 2800, 2970, 3140-50 area, 3210-30 area, 3290, 3398, 3500, 3585.
Price Action Signals: The huge range on last Friday’s long tailed bar signal means it is am impossible signal to trade, but the rejection of lower prices is worth noting in the short term. Price previously moved up from 2 Long Tailed Bullish Pin Bars that formed around the 3230 support level (now a major event area).
Potential Trade Idea: We will consider trading long after a retracement in prices t0 the 3230 key support area or just above, and / OR after a price action buy signal on the daily chart timeframe to confirm an entry (recent price action event area), in anticipation of a move higher back towards 3398 and then possibly back to the 3500 to 3585 area.
NOTE – You can trade S&P 500 Cash via the preferred trading platform we use HERE.
Get Daily Trade Ideas & Chart Analysis From Nial Fuller Every Day …
All Members of Nial Fuller’s trading courses & members area get access to Nial’s daily trade setups ideas newsletter. You will get potential trade ideas and technical chart analysis on Currency Pairs, Commodities, Stock Indices and more. For More Info Visit the VIP Membership Page Here.
Please Leave A Comment Below
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.