Weekly Trade Setups & Chart Analysis By Nial Fuller – July 30th to August 3rd, 2018


Nial Fuller forex trader education

USDJPY

Expect Bulls to defend 111.00 key support this week.

Summary: Long term up trend remains in tact with nearby support at 110.80-111.00. Over the last few days we can see multiple Tailed Bar buy signals forming at this support area. If support holds here we could see a substantial move back towards 113.18.

Trade Idea: Wait for a price action buy signal above 110.80-111.00 support.

GBPUSD

Expect Bears to contain prices under 1.3440 this week.

Summary: Long term down trend remains in tact with nearby resistance levels at 1.3318-1.3440. Price could pop up in the short term, however it’s likely prices will experience sell pressure from nearby resistance.

Trade Idea: Sell short on any price strength under 1.3318-1.3440 resistance or wait for a price action sell signal on 4 hour or daily chart.

GOLD

Expect Bears to contain prices under 1237-1266 resistance range.

Summary: Down trend remains in tact with nearby resistance at 1237 and 1266. Price could pop up in the short term, however it’s likely prices will experience sell pressure from nearby resistance.  As mentioned last week, we are avoiding trading pin bar signals that form against the current trend.

Trade Idea: Sell short on any price strength under 1237 to 1266 or wait for a price action sell signal on 4 hour or daily chart.

This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder and CEO of Learn to Trade the Market, the world’s foremost trading education resource.

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Weekly Trade Setups & Chart Analysis By Nial Fuller - July 30th to August 3rd, 2018

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