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Forex review blog for you

My Forex review blog for you

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Trade Ideas: GOLD Breaks Up From Huge Bullish Fakey Signal & CRUDE OIL Breaks Down From Double Inside Bar Signal

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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.

GOLD – Huge Bullish Fakey Signal Triggers Huge Upside Move

Trend: Bullish

Relevant Key Levels: Support at $1305-$1325, $1350, $1380, $1400 and $1450. Resistance at $1525

Price Action: Price breaks higher from the Bullish Fakey that formed last week, discussed in our previous commentary.

Current Notes: Price tests $1400 then bounces aggressively last week. The bias is still bullish whilst prices remain supported above the $1380 to $1400 key support levels. The strategy of choice continues to be buying on any pockets of weakness.

Potential Trade Idea: We will continue to consider buying Gold on any weakness OR on after a clear price action buy signal whilst price remains above the $1380 to $1400 short term support area.

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

CRUDE OIL – Bearish Double Inside Bar Signal Breaks Down

Trend: Bearish

Relevant Key Levels: Support at $51.20, $54.00 to $55.00  Resistance $66.60, $63.50, $60.30, $57.50.

Price Action: Price breaks down from a double Inside Bar Setup mid this week. A giant bearish fakey setup triggered late this week.

Current Notes: The bias is bearish whilst prices remain contained beneath the $57.50 to $60.20 resistance level. Price had collapsed lower several weeks ago after testing the $60.20 resistance zone.

Potential Trade Idea: We will consider selling short on any pockets of strength whilst prices remain below the $57.50 to $60.20 resistance area, targeting a move back to $54.00 and then $51.00.

NOTE – You can trade CRUDE OIL via the preferred trading platform we use HERE.

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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 Course Membership Page Here.

Note: –  Download a Free Trial of the Broker & Charting Platform We Use HERE.

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