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 – 0.723468 – 0.719901
AUDUSD – 0.777556 – 0.773607
USDCHF – 0.893684 – 0.890566
EURUSD – 1.213768 – 1.209504
- In a consolidation period, deeper correction or trend reversal in upcoming weeks
- Key Levels – 0.724007 – 0.709654
- Overall long trend
- Last week deeper correction, potential reversal
- Key Levels – 0.777805 – 0.756589
- Broke out of consolidation period last week
- A beautiful move to the upside!
- Key Levels – 0.898838 – 0.886650
- Key Levels – 1.217708 – 1.204640
- Overall Long Trend
- Currently in continuation period
- Key Levels are 1.388356 and 1.375329
Cheers to another successful week!
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