How I Make Money Trading GOLD Using Price Action Chart Analysis


hey guys it’s Nial Fuller here from learn to
trade the market. welcome to another trade setups video today’s video
I’m going to be talking about a huge gold trade set up we recently discussed
and the members weekly trade setups newsletter and I’m going to be talking
about a potential trade setup on gold that I see sitting up over the next few
weeks so firstly let’s have a look at the zoomed out daily gold chart we can
see the market found strong resistance that 1295 to 1,300 resistance region on
several occasions over the last six months what’s interesting to note is
that over the past three tests of this 1295 resistance level the price quickly
reversed lower but on this most recent test of the resistance price didn’t
actually reverse lower instead we kind of just consolidated and grind it away
under that resistance at 1295 if we zoom in a little bit closer on the daily
chart we can see a large pinbar reversal sell signal formed at that resistance
right up against it but again there was no follow-through to the downside we
just kind of grinded out went sideways we can then drill down a little bit
further and see these four daily price bars actually formed a coiling inside
bar structure this is actually where you see multiple daily price bars that form
within the range of the previous bar and you can see that on the chart here these
bars are actually forming within the range of the previous bar so that’s a
coiling inside bar structure very powerful now typically when we see those
patterns with lots of inside bars compressing like this it’s a flashing
line of warning sign that the market is about to make a major break in one
direction but it’s important to remember that because this was two weeks ago we
didn’t actually know which way the market was going to break out at that
time so it’s kind of a point where the markets about to do something and then
we have to anticipate it and plan the trade from there on this fourth price
bar you can see prices did initially breakout of the downside and for some
this would have been a nice short signal however as you can see the shorts had it
wrong and prices quickly reversed off the lows and formed a large bullish pin
bar reversal with a long tail this is one of my proprietary price
action signals called the fakie setup because prices make a false break in one
direction and quickly start moving in the opposite direction so the first move
was a fake-out that’s designed to trap most of the retail money on the wrong
side of the market it’s a very powerful price action setup that shows the
psychology of what’s taking place between the buyers and sellers at that
time we have like the majority of the traders betting on the wrong side of the
market only to get squeezed out in their positions as price moves the other way
it’s like a self-fulfilling momentum prices start to move the other way try
to start panicking they stop out at liquidate and then ultimately the
professionals come in and drive the price through to new highs okay for
anybody short the fakie pattern was a clear signal to get out of shorts and
reverse to Long’s and for those traders not in a trade this was a clear signal
to take a long position at the close of this bullish pin bar we took an
aggressive entry at the market price and as you can see in the following few days
prices rallied strongly through that previous resistance at 1300 and beyond
now personally I like to trade fakies where the false break bar is a really
clear pin bar like the one we have in this example but there are four
different types of fakies and I expand in more detail about these in my trading
courses so if you miss this trade the question now is where is gold headed and
how can we trade it from here well given that price has shown its hand and
started trending strongly above the previous resistance at 1295 to 1300 we
would assume that this level is going to act as a strong support in fact after
the first breakout prices actually retested that level here and quickly
pushed higher so from here the best potential trade that I can see would be
to be buying gold if prices fall back towards that 1295 to 1,300 major level
we would either wait for a price action buy signal in that area or just blindly
jump in around that 1,300 area if we zoom out on the daily chart again we can
see the technical preacher for gold looks pretty bullish now that we’re
above that 1,300 resistance and I guess until prices collapse below that support
we can assume prices are going higher obviously a prices fail that’s
potentially a good sign to close any Long’s and recess a chart the next major
level is around these thirteen seventy to 1400 levels
and that would be my first up site target but it’s possible that we could
even move higher than that long-term so for now I’m buying gold on any price
dips down towards that support and I’ll be setting profit targets up around
thirteen seventy to fourteen hundred you like to receive more trade setups ideas
and trading lessons like this please hit over to learn to trade the market com be
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to our YouTube channel I’ll see you in the next video until then safe trading you

25 Replies to “How I Make Money Trading GOLD Using Price Action Chart Analysis”

  1. Great analysis. Gold is at 161.8 Fibo projection right now and it looks like it will fall to 1280 and back UP from that level so you BUY Limit order will get filled. Good luck with that trade Nial.

  2. Thank u so much for all ur help….ur videos and website has completely changed my trading mindset and the way I look at charts…I have been studying ur methods for a while now and I am a firm believer that studying ur strategies and articles on learntotradethemarket.com has been the force behind me becoming successful….every trade is independent and it only gets better from here…thank u again!!

  3. I did miss the last trade but waiting to hit the next buy button in the coming days. Thanks for your immense help and guidance!

  4. Hello Nial. Unfortunately for inexperience and lack of more knowledge I ended up opening a sell position in Gold on 15/08 when the price was consolidated and I believed that it was a distribution and that it would fall soon after. At the moment I am about 4,000 negative points in this position, I ask: do you think a pullback is more likely or do I believe that the price may come to break the line that is now support?
    Thanks and congratulations for the work.

  5. Thank u very much Nial for sharing your knowledge. A question: what about binary options? Is price action useful with em? Of course not the 60 seconds but major timeframes. Thank s

  6. Read about you winning the axitrader competition. You took $5k and turned finished with over $23k. How did you go about doing this?

  7. Thanks for sharing the great points on using price action to trade the Commodity & Forex Market.. I'll remember this for next time…

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