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Forex review blog for you

My Forex review blog for you


Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – May 4th to 8th, 2020


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.


Trend: Bearish / Neutral

Relevant Key Levels: Resistance: 1.3190, 1.2770 and 1.2640. Support: 1.2020 and 1.1400.

Price Action: Inside Bar Pattern formed under 1.2640 resistance. (Watch for potential bearish Fakey pattern or Inside bar break down)

Current Notes: Price collapsed below both 1.2770 and 1.2640 levels activating a short term bear market recently.

Trade Idea: We will consider looking to sell after a price action sell signal, at or just below either 1.2640 area 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.

S & P 500 (Cash)

Trend: Bearish

Relevant Key Levels: Support at 2200, 2430 and 2600-2650. Resistance at 2960, 3030, and 3130

Price Action: There is a prior gap fill resistance around 2960 (event area).

Current Notes: The short bias remains bearish whilst prices hold beneath 2960, 3030 and 3130 levels.

Trade Idea: We will consider selling on a retracement higher AND after a clear price action sell signal at or just below the 2960 resistance area, ( ideally looking for a sell signal at or just under the gap fill area at 2960 (the same scenario we discussed last week) ), targeting a move back towards 2600-2645 and then and then potentially 2500’s and 2400’s.

NOTE – You can trade S & P 500 Cash via the preferred trading platform we use HERE.

Members 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 Membership Page Here.

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