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 – Dec 30th 2019 to Jan 3rd 2020
EURUSD – Waiting For A Price Action Sell Signal Within Major Resistance Zone Between 1.1180 and 1.1280
Trend: Bearish
Relevant Key Levels: Resistance at 1.1180 and 1.1280. Support at 1.0805, 1.0925
Price Action: Price is approaching the prior bearish Pin Bar ‘event area’ resistance around 1.1180.
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 – Buying On Weakness Whilst The $57.20 to $58.60 Area Holds Firm
Trend: Bullish
Relevant Key Levels: Support at $50.00 to $50.80, $55.00 and $57.20 to $58.60. Resistance at $60.95 and $63.00.
Price Action: Price broke up from an Inside Bar formation mid last week. 2 weeks ago, price broke up from a Multiple Inside Bars pattern that formed right around the $58.60 level. A giant weekly Pin Bar formed several weeks ago and triggered a substantial move higher.
Current Notes: Price is still holding above the $57.20 to $58.60 key support area and could move back up towards $60.50 and $63.00.
Potential Trade Idea: We will consider looking to buy at or just above the $57.20 to $58.60 support area and/or after a price action buy signal, targeting a move back up to $63.00 levels initially.
NOTE – You can trade CRUDE OIL via the preferred trading platform we use HERE.
S&P 500 – Waiting For A Pull Back To Buy Whilst The 3030-3070 Support Area Holds Firm
Trend: Bullish
Relevant Key Levels: Support at 3070, 3025, 2960, 2860-80. Resistance – 3250’s
Price Action: Small bearish Pin Bar forms at recent highs around 3250’s. Price recently broke up strongly after a bullish Fakey Pattern signal that activated at the 3160 area (now an event area).
Current Notes: The bias is still very bullish whilst prices hold above 3025 to 3070 support area.
Potential Trade Idea: We will consider buying on a retracement lower in prices and/or after a clear price action buy signal between 3160 and 3025-3070 area, targeting a move back towards the 3250’s region.
NOTE – You can trade S & P 500 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 Course Membership Page Here.
Note: – Download a Free Trial of the Broker & Charting Platform We Use HERE.
Please Leave A Comment Below
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.
