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 – 0.683426 – 0.678719
AUDUSD – 0.72476 – 0.71966
USDCHF – 0.91957 – 0.916571
EURUSD – 1.133097 – 1.129199
- Currently in a short
- Key Levels – 0.684072 – 0.676113
- Currently in correction phase. More than likely sideways movement in upcoming weeks
- Key Levels – 0.726842 – 0.717762
- Currently in Consolidation
- Key Levels – 0.921943 – 0.915918
- Continuation of short trend
- Currently in a consolidation period. Potential double bottom pattern
- Key Levels – 1.136739 – 1.127531
- Overall short trend
- Currently in retracement phase
- Key Levels are 1.344649 – 1.334011
Cheers to another successful week!
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