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 – 0.715472 – 0.710496
AUDUSD – 0.763767 – 0.758942
USDCHF – 0.884985 – 0.882240
EURUSD – 1.227328 – 1.222338
GBPUSD – 1.354958 – 1.348307
D1 Analysis:
- NZDUSD
- Currently in long continuation phase
- We may experience a correction to the 0.703242 level
- AUDUSD
- Price boke previous resistance last week for continuation of long trend
- Watch for corrections beginning of the week
- USDCHF
- Continuation of short broke last week
- We may see a correction this week but overall short trend continuation until previous resistance is broke 0.899342
- EURUSD
- Broke previous resistance last week for continuation of long trend
- We may see a correction to the 1.211253 level
- GBPUSD
- Expecting sideways movement between 1.361412 and 1.339415
Cheers to another successful week!
