The post below was written by world-class trader Nial Fuller who specializes in price action analysis.
You can find the original text here – “Weekly Trade Ideas: USDJPY, GOLD & S & P500 – Sep 12th – 16th, 2022“
Chart note: a necessary precondition for trading success is a broker offering the “New York Close Forex Charts” (a true 5 day chart that is consistent with the New York session close).
Dollar exchange rate (USD / JPY): Buy on the level and after the Price Action signal from the support level 139.40
Price Action: The price fell slightly against the Inside Bar formation which formed late last week (we haven’t considered trading with this formation, nor mentioned it). The price rose compared to the previous Inside Bar pattern that formed on Monday, September 5 (we did not consider trading this pattern). The price went up from the last Double Pin Bar + Inside Bar (Setup Combo) that formed on Wednesday August 31 (we did not consider trading this setup). The price went up compared to the last bullet Pin Bar + many Inside Bars (Setup Combo) that formed on Friday, August 26 (we suggested trading a breakout from this setup in the August 29 weekly newsletter and hopefully some traders got on board ).
Potential Trade Idea 1: We are considering buying at the lower level of the retracement and, following a buy signal from Price Action, at or just above the short-term support level of 139.40.
Want to have access to the same technical charting analysis and broker platform that Nial Fuller uses? – Download free software here.
Potential Trade Idea 2: We are considering buying on the lower retracement while price remains above 135.58 short-term support, coinciding with the recent bullish Pin Bar + multiple Inside Bars (Setup Combo) on Monday August 29.
Gold Rate (XAU / USD): Sells after the potential bearish Multi-Bar Fakey setup collapses
Price Action: Price created a bearish bar signal with a large shadow from above at the end of last week (we are not considering trading this signal). As of Tuesday, September 6, price creates a potential Fakey bearish multi-bar setup (this setup will only be triggered if the price drops below the mother bar). The price has dropped from the bearish Pin Bar signal that formed on Thursday, August 18 (we did not consider trading this signal, nor did we mention it at the time of its formation).
Potential Trade Idea 1: We are considering selling after breaking down the current potential bearish Multi-Bar Fakey setup.
Potential Trade Idea 2: We are considering a post-correction sell while price remains below the short-term resistance level of $ 1,765, which coincides with the last bearish Pin Bar signal that formed on Wednesday, August 18.
S&P 500 rate: Sales after correction and signal PA in the area 4215 – 4326
Price Action: The price rose from the bullish Pin Bar signal that formed late last week (we didn’t consider trading the signal or mentioning it). The recent bearish Pin Bar + Inside Bar (Setup Combo) that formed early last week failed (we suggested a correction sell to the bearish Pin Bar range from this setup in the September 5th newsletter).
Potential Trade Idea: We are considering selling after the retracement and after the Price Action signal while price remains below short-term resistance 4,215-4,326, coinciding with the last breakout of Inside Bar on Friday 19th August.
More from Nial Fuller:
This post was written by world-class trader Nial Fuller and is based on his own price action trading strategies.
You can find the original text here – “Weekly Trade Ideas: USDJPY, GOLD & S & P500 – Sep 12th – 16th, 2022“
Follow us on Google News. Search for what’s important and stay up to date with the market! Watch us >>