Weekly Trade Setups Ideas & Chart Analysis By Nial Fuller – December 23rd to 27th 2019

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 – December 23rd to 27th 2019

EURUSD – Sells Off After Pin Bar + Inside Bar Combo Pattern Breaks Down From The 1.1180 Resistance

Trend: Bearish

Relevant Key Levels: Resistance at 1.1180 and 1.1280. Support at 1.0805, 1.0925

Price Action: Price sells off aggressively after a Bearish Pin Bar + Inside Bar combo pattern that formed over a week ago.

Current Notes: The long term bias remains bearish as prices remain contained below the 1.1180 to 1.1280 long term resistance range.

Potential Trade Idea: We will consider selling short on any short term bounce in prices and/or after a bearish price action sell signal, whilst prices remain below the 1.1180 and 1.1280 resistance areas. Initial downside targets to 1.0925.

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

CRUDE OIL – Waiting For A Pull Back To Around The $54.90 to $57.20 Support Area.

Trend: Bullish

Relevant Key Levels: Support at $50.00 to $50.80, $54.90 and $57.20 to $58.65. Resistance at $60.50, $63.50 and $66.50 area.

Price Action: 2 weeks ago, price broke up from a Multiple Inside Bars pattern that formed right around the $58.65 level. A giant weekly Pin Bar formed several weeks ago and triggered a substantial move higher.

Current Notes: Price is still holding above the $54.90 to $57.20 support area and could move back up towards $60.50 and $63.00.

Potential Trade Idea: We will consider looking to buy around the $54.90 to $57.20 short term support area and/or after a price action buy signal, targeting a move back up to $60.50 and $63.00 levels initially.

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

S & P 500 – Looking To Buy On Any Weakness Whilst Price Holds Atop The 3075 to 3130 Support Area

Trend: Bullish

Relevant Key Levels: Support at 3075, 3030, 2960, 2860-80. Resistance – none

Price Action: Price recently broke up strongly after a bullish Fakey Pattern signal that activated 2 weeks ago (now an event area).

Current Notes: The bias is still very bullish whilst prices hold above 3030 to 3075 support area.

Potential Trade Idea: We will only consider buying on a retracement lower in prices and/or after a clear price action buy signal, whilst prices remain above the 3030 to 3075 support area.

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

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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.