Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – Nov 2nd to Nov 6th, 2020

Weekly Trade Setups Ideas & Chart Analysis by Nial Fuller – Nov 2nd to Nov 6th – Some Insights

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 – Nov 2nd to Nov 6th, 2020

!!! US ELECTION ALERT !!! – BRACE FOR EXTREME VOLATILITY DURING THE US ELECTION THIS WEEK. ELECTION RESULTS WILL BE DETERMINED FROM TUESDAY EVENING THROUGH TO FRIDAY – USA TIME. A WINNER MAY NOT BE ANNOUNCED UNTIL DAYS AFTER THE ELECTION, SO EXPECT MARKETS TO REMAIN VOLATILE AND UNPREDICTABLE IN THE NEAR TERM.

S&P 500 – Bullish signals form at 3230 major support, but US election result poses risk.

Short Term Trend: Neutral

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

Price Action Signals: Bullish Pin Bar signal formed at the 3230 support level late last week. Price currently testing the 3230 major support level.

Potential Trade Idea: None. Refer daily members newsletter updates for ideas during and after US election this week.

sp500 2020 11 02 22 39 42

EURUSD – It will all depend on the 1.1600 key level this week.

Short Term Trend: Neutral

Short Term Key Levels: 1.0990, 1.1140, 1.1180, 1.1415, 1.1500’s, 1.1610, 1.1700-50, 1.1830, 1.1910, 1.1960, 1.2080.

Price Action Signals: A bearish Tailed Bar signal formed under the 1.1700 level late last week.

Potential Trade Idea: None. Refer daily members newsletter updates for ideas during and after US election this week.

eurusd 2020 11 02 22 39 42

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Credit: Learn to trade the market

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