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 – 0.706066 – 0.701961
AUDUSD – 0.735175 – 0.730982
USDCHF – 0.92222 – 0.919365
EURUSD – 1.145711 – 1.14295
- Currently in a long consolidation period
- Key Levels – 0.705513 – 0.699067
- Correction phase
- Key Levels – 0.736796 – 0.726912
- Sideways movement
- Key Levels – 0.923934 – 0.918321
- Continuation of short trend
- Key Levels – 1.149432 – 1.141306
- Continuation of short trend
- Key Levels are 1.344718 – 1.335211
Cheers to another successful week!
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