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NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

VIDEO: How I Make Money Trading GOLD Using Price Action Analysis

In this video trading lesson, I discuss how I use the ‘fakey price action pattern’ to make money trading GOLD and the next ‘potential trade setup’ I see setting up on the GOLD chart.

After watching, please leave a comment below and share with other traders.  Enjoy… Nial

I WOULD LOVE TO HEAR YOUR THOUGHTS, PLEASE LEAVE A COMMENT BELOW :)

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Any questions or feedback? Contact me here.

Hey guys it's Nial here from learn to trade the market and welcome to another trade setups video.

In todays video i'm going to be talking about a huge gold trade setup we recently discussed in the members weekly trade setups newsletter and i'm going to talking about a potential trade setup on gold that I see setting up over the next few weeks.

So firstly, lets have a look at the zoomed out daily gold chart.. we can see the market found strong resistance at the 1295-1300 resistance region on several occasions over the past 6 months

What's interesting to note is that on the past 3 tests of this 1295 resistance, the price quickly reversed lower, but on this most recent move up to test that resistance, prices didn't reverse lower, instead price started to consolidate right under that resistance.

If we zoom in closer on the daily chart, we can see a pin bar reversal sell signal formed exactly at that resistance, but again, there was no follow through lower, we just went sideways.

We can see these 4 daily price bars where a classic coiling inside bar structure (this is where you see multiple daily price bars that form within the range of the previous bar). Now typically when we see so many inside bars compressing like this, it's a warning sign that the market is about to make a major break in one direction, but remember at this point we don't what direction that is.

On this 4th price bar, you can see prices did initially break out to the downside and for some this would have been a short signal. However, as you can see, the shorts had it wrong and prices quickly reversed off the lows and formed a large bullish pin bar reversal with a long tail.

This is a pattern I call the fakey setup, because prices make a false break in one direction and quickly start moving in the opposite direction, so the first move was 'fake out' designed to trap most fo the market on the wrong side. It's a very powerful price action pattern that shows the psychology that's taking place between traders in the market, where you have the majority of traders betting prices are going to move one way, and they are about to get squeezed out of their positions and will be forced to exit or will stop out as prices start moving the other way. This pattern leads to huge moves, especially around major levels.

Ok, for anybody short, the fakey pattern was a clear signal to get out of shorts and reverse to longs and for those traders not in a trade, this was a clear signal to take a long position. At the close of this bullish pin bar, we took an aggressive entry at the market price... and as you can see in the following few days prices rallied strongly up through the resistance at 1300 and beyond.. a really nice trade for those who got on board.

Personally, I like to trade fakeys where the false break bar is a really clear pin bar (like the one we have in this example), but there are 4 different types of fakeys and I expand in more detail about this in my trading courses.

Ok, so if you missed that trade, the question now is, where is gold headed and how can we trade it from here ?

Well given that price has shown it's hand and started trending strongly above that previous resistance at 1295-1300, we could assume that level is going to act as strong support, in fact after the first break out prices actually re tested that level here and quickly pushed higher.

So from here, the best potential trades will likely be to buy gold if prices pull back towards that 1295-1300 major level ... we would either wait for a price action buy signal, or we could just blindly jump in.

If we zoom out on the daily chart again, we can see the technical picture for gold looks very bullish now that we are above that 1300 resistance, and until prices collapse back below that support, we can assume prices are contained higher and will continue trending higher. Obviously If prices fail, that's potentially a good sign to close any longs and re assess the chart.

The next major level is around these 1370-1400 levels, and that would be my first upside target, but it's possible we could move even higher than that longer term.  So for now, i'm buying gold on any price dips down towards that support and i'll be setting profit targets up around 1370-1400 area.

If you'd like to receive more trade setups ideas and trading lessons like this, please head over to learntotradethemarket.com

Be sure to sign up to the newsletter mailing list and remember to subscribe to our youtube channel.

I'll see you in the next video, until then safe trading.

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Nial Fuller

About Nial Fuller

is a Professional Trader, Investor & Author who is considered ‘The Authority’ on Price Action Trading. His blog is read by over 200,000+ followers and he has taught 25,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
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  1. Mamoun ALI

    Great Nial
    Thanks for you

    Mamoun ALI

    Reply
  2. Rass

    Good video but every one in the site is by this time years old, nothing made recently.

    Reply
  3. Hilia

    This training is indeed very helpful,thanks Nail.

    Reply
    • Mahlomola

      Thank you this trading video has been helpful to me as I am still struggling to make a winning trades I would like to know if putting a stop loss does it reduce my profit and how

      Reply
  4. Ifeanyi Arisokwu

    I still need more clarity on the price action candles,

    Reply
  5. olufemi

    would this strategy still work in a 2000t chart?

    Reply
  6. zinna

    Hey Nial, your analysis has been so helpful to my trading journey as a newbie. Thanks

    Reply
  7. Phiwayinkosi Qwabe From SA

    Hi Nial
    I’m Mr Phiwayinkosi Qwabe Known as Phiwa. I’m glad I found your website and went through to it and got interested with some interesting advises and notes. I started FX Trading long time ago, but as part-time trader in 2015.since I have full time job in South Africa. but I started to be serious about it on 2017 where I relocated to coast of the Province. I bought Laptop and looking for mentors and other tools. but since then I was not profitable ,because I was lacking patience and self discipline, I bought some E-Books as well to get used to the system, but still not consistence on my trading. what I discovered about myself I love trading very much and I believe in it ,it’s like in my veins, now I would like to be more consistence on my trading and taking it as my day to day business.

    I am very much happy to find your website, after a long way of struggle. I like clean chart with no indicators and other stuff. I really like the Price action than relying on indicators I hope I came into the right place.

    Reply
  8. sombrero papi

    salut ,j’aime bien ta vidéo et ta méthode je t’encourage !!!

    Reply
  9. Lateef

    Hi Nial,the video is well explanatory and very easy to understand I am encouraged thanks.

    Reply
  10. Phindile Ncane

    Good day, I have just watched the video and i’m so impressed and would love to learn more and watch more videos.

    Reply
  11. Neil Connor

    I’m very impressed. Lots to learn. Bring it on . I’m signing up please.
    Neil

    Reply
  12. khangdq

    thanks

    Reply
  13. Oscar Radise

    Much Appreciated indeed, so educational

    Reply
  14. Ginno

    Thanks alot..its really great and helpful

    Reply
  15. Nikolai Senkevitch

    It is very good starting point. Gold is good, a little bit more expensive than major currency pairs. It looks very easy to comprehend and copy. I will follow you Nial.
    Nick S.

    Reply
  16. ALABI 0BAOLUWASANJO E

    GOOD METHOD, I KNOW IT WILL GOOD RESULT,THANKS SIR.

    Reply
  17. Danny

    Good method

    Reply
  18. Esther

    I’m gland and um sure um gonna make it. .wow. .this is amazing. .thank you so much

    Reply
  19. Phumlile

    Wow, its amazing

    Reply
  20. Mangut Kefas Mafwalal

    Nice and educative video. Thanks and God bless you.

    Reply
  21. Yuran Edgar Alar

    Just Amazing

    Reply
  22. Mekateko Vuma

    Wow, this really left me with insight.
    Thanks so much Sir🎟

    Reply
  23. David

    Just found your fakey strategy, apply it on EURAUD and got 180 pips.
    Thanks Nial.

    Reply
  24. Kennedy

    Good leason broo thanks

    Reply
  25. MUZI

    good sstuff and it earsy to understad Nial you the best i like P.A

    Reply
  26. Kekeli Anyigba

    This is very educative, I must confess this is really confusing for me now because I am totally new to Forex Trade but I am determined to become a professional Forex Trader soon. I know with you I will learn more. Thank you Nial Fuller. God bless you abundantly.

    Reply
  27. Jishua

    Hello Nail
    Looking forward for same more videos
    Also willing to learn more
    This is going to be interesting journey to becoming a trader

    Reply
  28. Douglas

    Thank you Nial

    Reply
  29. Douglas

    i have been missing out opportunities. I am now on track

    Reply
  30. Malusi fire mhlongo

    good sstuff…thanks bro

    Reply
  31. Eugene Delim

    very powerful PA, especially when we are trading with the bias trend. awesome.

    Reply
  32. Che Di

    Thank you.

    Reply
  33. Taime Khanist

    Thank you.

    Reply
  34. Chawalit Booncha

    Fail now gold is not up its breakout to down trend

    Reply
  35. Umer Aslam

    I never knew that one can trade inside bars like this. Thanks Nial.

    Reply
  36. Erik Eriksson

    Nial you the best thnk you

    Reply
  37. KIng

    Thanks Nial for making me understand the price action better, been stuck in the indicators and blowing acounts but now im doing better and trying to understand and master the craft of the key support and resistance method. thank you and take care

    Reply
  38. Oyinade

    Good job!

    Reply
  39. Agnes Kaposambo Kebonang

    Nial you the best thank you

    Reply
  40. Benedict Moemedi Motsumi III

    I wish someone can help me understand everything

    Reply
  41. Sukury Romy

    Gold signal

    Reply
  42. Sukury Romy

    Hi.Can you provide signal?

    Reply
  43. MatFX

    Thanks Nial! I always have problems with gold :) Maybe now I will improve my trading with that metal.

    Reply
  44. Wynand Koen

    Hey Nial.Thank you for all the great tips on price action.To be sucsessfull you need to learn from the best.And u are the best.

    Reply
  45. Ryan Poole

    Hey Nial. Thanks for all Your amazing blog posts. I took your Pin bar trading course a couple years ago. I feel like that was the first step in becoming a good price action trader. It really taught me to read price and candles. Sticks and patterns. My next trading goal is to master your pyramid strategy. Seemed to work great for me on the 4H while I was back testing. My biggest issue is I can never hold a trade when it start to retrace. If Im risking %2 per trade and Im up 3R or 4R I dont want to watch it come back to 1 or 2R or even worse. But I know the upside is huge. Especially if its with a pair that the swap is in your favour.. anyways, I highly recommend animals course, trading style and read every blog hes ever written. You will start your journey on becoming a real trader. Thank you so much

    Reply
  46. Clinton Obas

    Thanks nail you are still my boss

    Reply
  47. Ayrtons

    I did not trade that fakey signal, since it happen bellow the resistance. So trading this fakey pattern was trading long directly into above resistance. Gold is faling now, back to that same supoort, previous resistance and maybe we will get good Buy price action signal now.

    Reply
  48. Mbali Hlah Mthembu

    Thank you

    Reply
  49. Momoh Abdulrafiu

    here is my great boss

    Reply
  50. Mavhungu Lufuno

    fakey setup is super

    Reply
  51. Ivane Zurabishvili

    Thanks Nial, very great video!

    Reply
  52. Jessica Fernandez

    Thanks! Had same analysis

    Reply
  53. Debasis Mukhopadhyay

    Cogent and useful.

    Reply
  54. Costa Vranas

    What a superb analysis thank you Nial Gold is defintaely going on my watch list

    Reply
  55. Investingtrader

    information about forex are why everyone likes Facebook

    Reply
  56. Pelontle Gill

    Thank you for the video. Im still learning price action setup and your teachings makes it easy to understand.

    Reply
  57. Kabir Hussain

    very well explained video

    Reply
  58. Bongani Muthisi

    This missed trade is such a pain to my soul to think that I have been following Gold for many weeks and left it alone when that fakey setup formed – it stopped me out and I reacted emotionally by closing the Gold chart. But the market will still be here even tomorrow – there will be other opportunities. Great video Sir Nial, thanks

    Reply
    • Nial Fuller

      The market is always going to be there, plenty more opportunities for those patient enough to wait.

      Reply
    • Raveek Spence

      thank you very much for this information nial

      Reply
    • ThaboM

      Hi Nial, I am grateful of your teachings….always informative

      Reply
  59. Darrell

    Thank you Nial
    This trade taught me so much and this simply breaks it down even more for me
    Great video :)

    Reply
  60. Rahim

    Salute!!!!

    Reply
  61. William D Arbe

    Thanks Nial…. Fakeys seem not to be “Fake News”… they seem to be true to form.

    Reply
  62. Marc Trepanier

    Great video thank you

    Reply
  63. Giles

    Thanks Nial, love these break-down videos. Keep em coming!

    Reply
  64. 陈天雄

    Thank you so much for your great video

    Reply
  65. Marisa

    Many thanks. This is so helpful.

    Reply
  66. TJ

    Hi Nial,

    Nice trade, thank you for sharing.

    What do you think of the pin bar on the daily chart USDCAD formed last Friday sept 08. It seems to be in a strong support area. Would you wait for a candle confirmation before going long.

    Thank you

    Reply
    • Darrell

      For a start check out the multiple failed pinbars that can be found within a strong trending market
      importantly why would you trade against the trend ?
      Dont get me wrong you may pick a reversal sometimes but its not a profitable trading plan to try and pick the top and bottom , i have tried it , it doesnt work in the long term
      Dont force a trade , just let it come to you
      Just my thoughts :)

      Reply
    • Nial Fuller

      Click the contact us menu and send me a message.

      Reply
  67. Manoj Palekar

    thanks Nial great video

    Reply
  68. Roy Peters

    Missed the fakey pattern but I got in on the retest of support at 1300. I’ll look to buy at support or at the ema bounce. Great analysis as always. Trading really is easy. The hard part is waiting….patience :)

    Reply
    • Nial Fuller

      Yes ‘patience’ is the key to trading, I think I mention this in almost every trading lesson I produce.

      Reply
  69. Brett Reynolds

    Have missed both these ‘Fakey’ opportunities to get long on Gold over the last few weeks even though i knew that that the Daily/weekly trend was very Bullish. Most annoying!
    Gold has a habit of retesting previous ‘Break out’ levels so hopefully a nice retrace back down to the 1300 area would be ideal to get long back up to 1360/1370 previous long term highs!?

    Reply
    • Nial Fuller

      Brett, as I said in the video, that 1295-1300 level is now support, and I’ll be buying again if prices re visit that support area. The first trade up was such a huge move because prices broke out from 1300 resistance… fuelling massive short covering and break out buying.

      Reply
  70. Daphney Chauked

    Im starting to see the light. Thanks Nial

    Reply
    • Hung Nguyen Duc

      Great video thank you

      Reply

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