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Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 20th to 24th, 2018

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Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

Disclaimer: Nial’s views and comments on the following markets and charts is not advice or a recommendation, it is for educational and general information only.

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 20th to 24th, 2018

All charts illustrated are daily chart time-frames unless marked otherwise.

GOLD

GOLD breaks down from multiple inside bar pattern, collapsing below 1200 support.

Summary: Down trend remains in tact with nearby resistance at 1205 to 1215 area

Price broke below inside bars we discussed in last weeks commentary, and reached the expected target of 1180 (went far lower).

A pin bar has formed on daily time frame (against trend though), expect a bounce towards resistance at 1205 to 1215 area, then further selling to resume.

Forecast: Consider selling short on strength around 1205 to 1215 or on a price action sell signal on 4 hour or daily chart. Check for more updates in the members newsletter this week as price action unfolds.

EURUSD

EURUSD remain in bear market under 1.1750 core resistance.

Summary: Long term down trend remains in tact with nearby resistance at 1.1500, 1.1615 and 1.1750 resistance.

Small tailed bar forms on daily time frame (against trend though), expect a short term retrace to higher prices, before more selling resumes.

Forecast: Continue to consider selling short on any price strength whilst price is under 1.1750 or wait for a price action sell signal on 4 hour or daily chart. Check for more updates in the members newsletter this week as price action unfolds.

NZDUSD

An already bearish NZDUSD chart has seen price collapse further below 0.6700 key support level.

Summary: Long term down trend remains in tact with nearby resistance at 0.6690 and 0.6700.

Forecast: Consider selling short on any price strength whilst prices remain contained under 0.6690, or wait for a price action sell signal on 4 hour or daily chart. Check for more updates in the members newsletter this week as price action unfolds.

SPI 200 Index Australia

SPI 200 Index breaks free from consolidation pattern and surges through old highs at 6265.

Summary: Long term up trend remains in tact with nearby support at 6130 to 6050.

Trend continues higher through old highs at 6265. Any price dips continue to see the bulls step in and buy aggressively, expect higher prices if 6170 support holds.

Forecast: Consider buying on any price weakness above 6130-70 support area Or wait for a price action buy signal on 4 hour or daily chart. Check for more updates in the members newsletter this week as price action unfolds.

CRUDE OIL

Crude Oil chart at a cross roads, could go either way from crucial technical level of 64.10.

Summary: Up trend remains in tact with nearby support at 66.25 to 64.10. It’s likely prices will continue to experience buying pressure from nearby support until we fail.

Price collapsed at 66.25 and is resting right above 64.10 major support.  Expect a move either way once we reach 64.10, a failure could send prices much lower, however if we bounce strongly here, we could the trend resume upward.

Forecast: Sitting on sidelines for now, check for more updates in the members newsletter this week as price action unfolds.

Members Get Daily Trade Ideas On 10 Markets Every Morning – Members of Nial Fuller’s trading education courses get access to the members daily trade setups newsletter. You will get potential trade ideas and detailed chart analysis on Currency Pairs, Commodities, Stock Indices and more, every trading day. For more information visit the Trading Course Membership Page Here.

Note: – It’s imperative you are trading with a broker that offers New York Close Charts, (a true 5 day chart that aligns with the New Zealand open and New York Close) you can download a Free 30-day Trial of the Broker & Charting Platform We Use HERE.

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About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial’s Professional Trading Course here.





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