Hello everyone! This post is covering the Market Commentary for multiple assets using The Professor and Pure Price Action Technical Analysis.
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 – 0.721447 – 0.716676
AUDUSD – 0.772466 – 0.767535
USDCHF – 0.88667 – 0.883532
EURUSD – 1.224541 – 1.219132
GBPUSD – 1.36901 – 1.362825
D1 Analysis:
- NZDUSD
- Overall Long Trend
- Key Level 0.716474 broke last week for continuation of long
- We can expect a potential correction to the 0.709714 level
- Buy on dips
- AUDUSD
- Overall long trend
- Key Level 0.764416 broke last week for a continuation of long trend
- Watch for corrections around the 0.757569 level
- USDCHF
- Currently in a short continuation
- Key Level 0.898468 broke last week for a continuation
- Key Levels are 0.887105 and 0.878799
- EURUSD
- Overall Long Trend
- Key Level 1.211253 broke last week for a continuation
- New Key Levels are 1.231321 and 1.21752
- GBPUSD
- Key Level 1.361412 broke last week for a continuation of long trend
- We may see a correction to the 1.355957 level
- Key Levels are 1.369862 and 1.355957
Cheers to another successful week!
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