Please remember that we want the candle body to close above or below the new defined range for validation to enter the trade. Avoid getting caught in a trade with some of those wicked wicks!
Also, remember to set your trailing stop around 25 pips (using previous support resistance will give you best results). Majority of these trades reach 50 or more pips, but protect your profit in case the trade turns around.
SL is set at the opposite side of the new defined range.
New Defined 4H Ranges:
NZDUSD – 0.685509 – 0.681953
AUDUSD – 0.727681 – 0.72476
USDCHF – 0.913264 – 0.910408
EURUSD – 1.138609 – 1.135909
- Currently in a short
- Key Levels – 0.684072 – 0.676113
- Currently in correction phase. More than likely sideways movement in upcoming weeks
- Key Levels – 0.726842 – 0.717762
- Key Levels – 0.915918 – 0.910787
- Continuation of short trend
- Currently in a consolidation period. Potential double bottom pattern
- Key Levels – 1.136739 – 1.127531
- Deep correction phase
- Potential reversal in upcoming weeks
- Key Levels are 1.355635 – 1.345967
Cheers to another successful week!
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