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Forex review blog for you

My Forex review blog for you

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Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – April 6th to 10th, 2020

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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.

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – April 6th to 10th, 2020

GBPUSD (Symbol GBPUSD ON FXTRADING.com Platform)

Trend: Bearish

Relevant Key Levels: Resistance: 1.3190, 1.2770 and 1.2580. Support: 1.2020 and 1.1400.

Price Action: Multiple Inside Bar cluster formed over past few days.

Current Notes: Price collapsed below 1.2770 and 1.2580 resistance activating a short term bear market recently.

Potential Trade Idea: We will consider looking to sell after a price action sell signal at or just below either the 1.2580 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.

CRUDE OIL  (Symbol WTI ON FXTRADING.com Platform)

Trend: Very Bearish

Relevant Key Levels: Support $18.80 to $21.00. Resistance $27.80, $36.00, $41.50 and $49.50.

Price Action: Pin Bar formed at $36.00 resistance levels recently. Gap in prices formed at $41.50 area (remains unfilled)

Current Notes: Price remains very bearish whilst under the $36.00 and $41.50 levels (prior gap).

Potential Trade Idea: We will consider selling on any bounce in prices and after a price action sell signal whilst prices hold below the $36.00 level, targeting a move back to the $21 region or possibly lower.

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

HSI (Hang Seng Index) (Symbol HK50 ON FXTRADING.com Platform)

Trend: Bearish

Relevant Key Levels: Support: 20000, 21000 and 22100. Resistance 24800, 25280, 25880 and 26850.

Price Action: Price collapsed dramatically after breaking below the neckline support of the giant head and shoulders pattern recently (event area).

Current Notes: The short term bias is Bearish below the 24800 to 25880 resistance zone. Long term chart shows a classic bearish head and shoulders pattern which has triggered lower.

Potential Trade Idea: We will consider selling on a retracement higher and retest of the key resistance area around 24800 to 25880 OR a price action sell signal around those levels, targeting a move back towards the 21,000 area (recent swing lows).

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 Price Action Trading Course Membership Page Here.

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