Weekly Trade Setups Ideas & Chart Analysis By Nial Fuller – Feb 10th to Feb 14th, 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.

Weekly Trade Setups Ideas & Chart Analysis By Nial Fuller – Feb 10th to Feb 14th, 2020

EURUSD – Look To Sell On A Bounce Or After A Price Action Sell Signal This Week

Trend: Bearish

Relevant Key Levels: Resistance at 1.0980. 1.1180, 1.1240 and 1.1280. Support at 1.0805 and 1.0925

Price Action: Several Bearish Pin Bar Signals recently formed below 1.1180 resistance and have sent prices lower.

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 continue to 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 resistance areas. Initial downside targets to 1.0925.

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

GOLD (SPOT) – Play The Trading Range Between $1525 and $1620 this week.

Trend: Bullish

Relevant Key Levels: Support at $1440 to $1450 and $1510 to $1525 area. Resistance at $1610 to $1620 area.

Price Action:  A massive bearish Long Tailed Pin Bar formed at the $1610 resistance area over 4 weeks ago.

Current Notes: The bias is mildly bullish whilst prices remain atop $1510 to $1525 key support area, however, prices may experience strong sell pressure at the $1610 to $1620 on the next test of this level.

Potential Trade Idea 1 : We will consider looking to buy on weakness whilst price holds atop the $1510 to $1525 short term support area and/or after a price action buy signal, targeting a move up to $1610 to $1620 recent swing high resistance area initially.

Potential Trade Idea 2 : We will consider looking to sell on strength whilst price holds below $1610 to $1620 resistance AND after a price action sell signal, targeting a move up to $1510 to $1520 area initially.

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

S & P 500 (CASH) – Look To Buy On Weakness Or After A Price Action Buy Signal This Week

Trend: Bullish

Relevant Key Levels: Support at 3160 to 3180, 3070, 3025, 2960 and 2860-80. Resistance 3260’s and 3340’s.

Price Action: Over a month ago, we saw a massive Bullish Pin Bar as part of a Bullish Fakey Pattern form at the 3180 short term support level (event area).

Current Notes: There is strong support around the 3160 to 3180 support level. The long term bias is bullish whilst prices hold above the 3025 to 3070 support area.

Potential Trade Idea: We will continue to consider buying on a retracement lower in prices AND after a clear price action buy signal at the 3160 to 3180 support area, targeting a move back towards the 3260 ad 3340 initially.

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.