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 – 0.710496 – 0.706741
AUDUSD – 0.755547 – 0.751655
USDCHF – 0.890723 – 0.888045
EURUSD – 1.214896 – 1.209808
GBPUSD – 1.324955 – 1.318852
- Currently in long continuation phase
- We may experience a correction to the 0.694367 level
- Price boke previous resistance last week for continuation of long trend
- Watch for corrections beginning of the week
- Continuation of short broke last week
- We may see a correction this week but overall short trend continuation until previous resistance in broke 0.899342
- Broke previous resistance last week for continuation of long trend
- We may see a correction to the 1.20329 level
- Expecting sideways movement between 1.35142 and 1.33200
Cheers to another successful week!
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