We are still doing some final tests before release – to the new file pack for all EAs, indicators, templates, etc. We will do a post to let you know when the updated file pack is fully released. It is very important that you download the new files to your MT4 as the old ones will no longer work.
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 – 0.667905 – 0.664774
AUDUSD – 0.725632 – 0.721641
USDCHF – 0.911033 – 0.908334
EURUSD – 1.184695 – 1.180742
GBPUSD – 1.307551 – 1.299381
- The 0.651471 level held and we are expecting sideways movement in between 0.675886 and 0.651471 in the upcoming weeks.
- If the 0.651471 level breaks then we can expect a reversal to short
- If the 0.675886 level breaks then we can expect a push to the 0.681232 level and long trend continuation
- We can expect some sideways movement in the upcoming weeks
- Key Levels are 0.725626 and 0.702139
- trend reversal is still following all rules
- We had the correction expected last week and now can expect a bounce back to the upside to continue the long trend or potential sideways movement for a bit
- If key level 0.913598 does not hold then we will expect further correction and will exit trade
- The short reversal is still following all rules
- We experienced a further drop and then correction for completion of leg 1
- We can expect sideways movement or continuation to the downside in the upcoming weeks
- Key level to watch for is 1.186067. If it breaks to the upside then we exit and wait for another setup
- Fulfilled the sideways movement we were expecting last week
- If price breaks below 1.262537 then we can expect full trend reversal to the downside with next target of 1.255473
Cheers to another successful week!
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