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Nial Fuller is professional forex trader specializing in price action trading. He has become one of the most widely followed Forex Trading mentors in the world with a monthly readership of more than 250,000 traders. Learn to trade the market provides professional forex trading education & training courses. Get forex trading commentary, videos, articles & more.
There are numerous misconceptions and incorrect assumptions that surrounding trading. These myths are held both by aspiring traders as well as the public. Not only are they untrue, they are hurtful both to you as a trader and your chances off success but also to the reputation of trading in the minds of the public who know next to nothing about it.
The EURUSD moved higher last week as price rebounded following a decline to 1.2200 area the previous week. Notice the false break of key resistance up near 1.2520 that occurred last Friday, this pullback could continue this week as this is a formidable resistance level having give rise to a pin bar reversal a few weeks back. However, the uptrend is still intact and so we are continuing to view any downward pullbacks as potential buying opportunities near support. We will look to be a buyer at or near 1.2200 near-term support or possibly the 21 day ema (blue level) following a clear 4-hour or daily chart price action buy signal.
Today’s lesson is going to help you eliminate one of the biggest psychological handicaps that is standing in the way of your trading success. First, we will identify the issue and then help you cure it and prevent it from returning. Essentially, we are going to 'vaccinate' you against one of the worst trading ‘diseases’ that ‘kills’ many traders each year…
The EURUSD pulled back last week as price rotated lower but remained above key support levels with the technical uptrend still intact. As a result, we remain more bullish on this market still and looking for buying opportunities again this week as this market retraces closer to support. More advanced traders can watch for a blind entry at 1.2100 - 1.2090 key support zone; we would expect a strong bounce from that level if price holds above it. However, more conservative traders can wait for a firm pin bar signal from from that support zone on the daily or 4 hour chart time frame.
Last week in the EURUSD, price pushed higher again, albeit with more subdued gains than the previous week. However, the trend is still up overall and as we have been discussing in recent commentaries we are looking to buy this market on pull backs to support. We are now watching 1.2335 near-term support, the 21 day ema (blue level) and down to 1.2090 area for price action buy signals on a rotation lower (pull back) this week. Stay tuned to our daily members trade setups commentary for ongoing updates on the EURUSD.
A commercial airline pilot goes through an extensive pre-flight checklist to avoid any problems once that jumbo-jet gets it airborne. Similarly, you must go through a trading checklist before you get ‘airborne’ and enter a live trade. But, how often do you sit down in front of your computer, open your trading platform and begin searching for trades without going through any type of checklist to make sure you’re doing things right? For most traders, this is how they operate all the time and it’s a big reason they don’t make money.
It's no secret that some of the major stock market indices have been screaming higher recently. If you look at an S&P500 daily chart for example, it's been on fire for well over a year now, especially since the second half of 2017. To the outsider who doesn’t actively trade, it may seem super easy to take advantage of these one-way markets, but not so fast.
Last week in the EURUSD, price pushed higher again, in-line with our recent EURUSD analysis. However, price did form a bearish pin bar on Thursday, reversing at a key long-term resistance area up near 1.2540, visible on the weekly time frame. As a result, a rotation lower early this week is likely, with nearby support sitting much lower, between 1.2080 and 1.2160 area. We can look to be a buyer after such a pullback within the support region seen in the chart below or above if a firm price action confirmation signal forms. Look for price action buy signals on a pullback whilst prices remain above the support
The EURUSD consolidated last week as we can see below on the daily chart. However, this market is in the midst of a strong uptrend with a lot of bullish momentum behind it and we see no reason for that to change this week. We are looking for a pullback before buying with close focus being paid to the 21 day exponential moving average (blue line) and the support / value zone between 1.2090 to 1.1950. We will be looking for 1 hour, 4 hour or daily chart price action buy signals this week on any weakness whilst price is trading within or above that support zone.
Simply put, without the proper knowledge, training, preperation and skills, you will never win at the game of trading. So, in today’s lesson, I am not just going to preach to you that you "can’t get rich quick” in trading (you really can’t), instead, I am going to give you sound, actionable insight into what you need to do to win the long-term trading game, which is the only game that matters.
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