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 – 0.719769 – 0.715815
AUDUSD – 0.766311 – 0.761833
USDCHF – 0.892429 – 0.888479
EURUSD – 1.215566 – 1.210967
D1 Analysis:
- NZDUSD
- In a consolidation period, deeper correction or trend reversal in upcoming weeks
- Key Levels – 0.724007 – 0.709654
- AUDUSD
- Overall long trend
- Last week deeper correction, potential reversal
- Key Levels – 0.777805 – 0.756589
- USDCHF
- Currently in a consolidation period
- Key Levels – 0.891556 – 0.877682
- EURUSD
- Currently in a consolidation period or deeper correction phase
- Key Levels – 1.222603 – 1.201591
- GBPUSD
- Overall Long Trend
- Currently in consolidation period
- Key Levels are 1.375329 and 1.349884
Cheers to another successful week!
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