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 – 0.712231 – 0.707975
AUDUSD – 0.760681 – 0.756639
USDCHF – 0.89229 – 0.889596
EURUSD – 1.220585 – 1.215954
GBPUSD – 1.358927 – 1.351091
D1 Analysis:
- NZDUSD
- Currently in a consolidation period with overall long trend
- We may experience a correction to the 0.703242 level
- Key Levels are 0.716474 and 0.703242
- AUDUSD
- Price is currently in a consolidation period with overall long trend
- Watch for corrections beginning of the week
- Key Levels are 0.764416 and 0.745132
- USDCHF
- The expected correction last week occurred
- Currently in a correction phase
- If level 0.898468 holds, then we can expect consolidation, deeper correction into continuation
- If level 0.898468 breaks, then we can expect possible trend reversal
- EURUSD
- The expected correction last week occurred
- Currently still in correction phase
- If level 1.211253 holds, then we can expect consolidation, deeper correction into continuation
- If level 1.211253 breaks, then we can expect possible trend reversal
- GBPUSD
- Expecting continued sideways movement between 1.361412 and 1.339415
Cheers to another successful week!
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