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Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 6th to 10th, 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 6th to 10th, 2018

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

GBPUSD

Technical Summary: Long term down trend remains in tact with the most relevant nearby resistance levels at 1.3205 and 1.3440. Price could pop up in the short term, however it’s likely prices will experience sell pressure from nearby resistance.

The inside bar pattern in line with down trend, that we discussed last week, has resulted in a substantial break lower.

Potential Trade Idea: This week consider selling short on any price strength under 1.3205 or wait for a price action sell signal on 4 hour or daily chart. We will alert our members to any potential trade setups on this market via the members daily trade setups ideas newsletter this week.

USDJPY

Technical Summary: Long term up trend remains in tact with nearby support at 110.80-111.30. Over the last week, we can see multiple tailed bar buy signals forming at this support area.

Price surged higher from pin bar that we discussed a few days ago, and is now consolidating above nearby support. The bias remains positive above 110.80, and we still prefer to buy dips on any weakness towards support. Upside targets 113.18 recent highs.

Potential Trade Idea: Wait for a price action buy signal above 110.80-111.30 support. We will alert our members to any potential trade setups on this market via the members daily trade setups ideas newsletter this week.

GOLD

Technical Summary: Down trend remains in tact with nearby resistance at 1237 and 1266. Price could pop up in the short term, however it’s likely prices will experience sell pressure from nearby resistance.

As mentioned last week, we are avoiding trading pin bar signals that form against the current trend. We also noted last week that a failure below the tails of those recent counter trend pin bars would activate lower prices, potentially to 1200 and 1180. This scenario has unfolded late last week and adds more downside momentum heading into this week.

Potential Trade Idea: Consider selling short on any price strength under 1237 or wait for a price action sell signal on 4 hour or daily chart. We will alert our members to any potential trade setups on this market via the members daily trade setups ideas newsletter this week.

S&P 500 USA

Technical Summary: Long term up trend remains in tact with nearby support levels at 2790 and 2704.

A giant pin bar buy signal formed on the daily chart late last week, right at the key support level of 2790, a bullish sign for prices.  Traders who bought last weeks dip towards 2790 support are sitting in a nice trade, however there is still a chance to buy again this week if prices pull back briefly.

Potential Trade Idea: Consider buying on a minor pull back towards 2790 support or wait for a price action buy signal on 4 hour or daily chart. We will alert our members to any potential trade setups on this market via the members daily trade setups ideas newsletter this week.

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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