Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – Nov 16th to 20th, 2020 » Learn To Trade The Market


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 – Dec 1st to Dec 4th, 2020

GBPUSD (Spot) 

Short Term Trend: Bullish

Short Term Key Levels: 1.2640 to 1.2660 area, 1.2725, 1.2810, 1.3000, 1.3170, 1.3265,  1.3320, 1.3480.

Price Action Signals: Multiple Inside Bar pattern forms above 1.3265 short term support.

Potential Trade Idea: We are considering trading longs from a bullish price action signal (inside bar break out out or bullish fakey signal), whilst price holds above the 1.3170 key support level.

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

GOLD (Spot) 

Short Term Trend: Bearish

Short Term Key Levels: $1640, $1670, $1750, $1790, $1850, $1905 to $1915-$1930, $1975, $2015, $2070

Price Action Signals: Price just broke down from a Multiple Inside Bar pattern that had formed below $1850 short term resistance.

Potential Trade Ideas: We are considering trading shorts after a retracement higher in prices and after a bearish price action signal (eg bearish pin bar or bearish fakey) on the 4 hour or daily chart, whilst prices hold below the $1850 to $1905 resistance area.

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

S&P 500 (Cash) 

Short Term Trend: Bullish

Short Term Key Levels: 2800, 2970, 3140-50 area, 3210-30 area, 3290, 3400 to 3430, 3500, 3585, 3675.

Price Action Signals: Small Bullish Pin Bar signal forms above 3585 short term support. Price is still contained below the recent huge Bearish Long Tailed Pin Bar below 3685 (counter trend), but a break above the tail to invalidate that signal would be bullish (failed signals suggest a move in opposite direction).

Potential Trade Idea: We are considering trading longs after a pull back in prices, and after a price action buy signal on the 4 hour or daily chart timeframe, whilst price holds above the 3585 short term support level.

NOTE – You can trade S&P 500 Cash 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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