Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 31st to September 4th, 2020

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 31st to September 4th, 2020

Note On Charts: It’s imperative you are trading with a broker that offers ‘New York Close Charts‘, (a true 5 day chart that aligns with the true New York Close). Download a demo of our Preferred Broker & Charting Platform HERE.

Chart Commentary Disclaimer: This should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments.

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – August 31st to September 4th, 2020

EURUSD (Spot)

Short Term Trend: Bullish

Short Term Key Levels: 1.0990, 1.1140, 1.1180, 1.1415, 1.1500’s, 1.1700, 1.1815, 1.1910, 1.2080 (old major level)

Price Action Signals: Price broke up from a multiple Inside Bar Pattern late last week.

Potential Trade Idea: We will consider trading long after a retracement and after a price action buy signal on the 4 hour or daily chart time frame to confirm an entry, whilst prices hold above the 1.1500 to 1.1700 key support area, in anticipation of a bounce higher back towards the 1.1910 level and then potentially the 1.2080 level.

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

AUDUSD (Spot)

Short Term Trend: Bullish

Short Term Key Levels: 0.6560, 0.6670, 0.6970, 0.7050-60 area, 0.7200.

Price Action Signals: Price broke out from a multiple Inside Bar pattern last week.

Potential Trade Idea: We will consider trading long after a retracement, and after a price action buy signal on the 4 hour or daily chart timeframe to confirm an entry, whilst prices remain above the 0.7050-60 key support area, in anticipation of a continuation higher towards 0.7395.

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

GOLD (Spot) 

Short Term Trend: Bullish

Short Term Key Levels: $1560, $1640, $1670, $1790, $1816, $1866, $1905 to $1915, $1980, $2000, $2070

Price Action Signals: Price is pushing higher from a Bullish Pin Bar formed at the $1905 support level last week (a key area we have been watching for buying opportunities).

Potential Trade Idea: We will consider trading long after a retracement to around the $1866 to $1905 support area, and after a price action buy signal on the 4 hour or daily chart timeframe to confirm an entry, in anticipation of a move higher back towards $2000 and then possibly back to $2070 (recent all time high).

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

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Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.

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