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 – 0.730974 – 0.727418
AUDUSD – 0.788214 – 0.784261
USDCHF – 0.897809 – 0.894613
EURUSD – 1.213768 – 1.209504
D1 Analysis:
- NZDUSD
- Broke consolidation period last week
- Upper Key Level broke and moved roughly 60 pips in profit
- Key Levels – 0.731444 – 0.713756
- AUDUSD
- Overall long trend
- Last week continuation push
- May see a correction this upcoming week, buy on dips
- Key Levels – 0.791188 – 0.777805
- USDCHF
- Possible trend reversal
- currently in consolidation period
- Key Levels – 0.898838 – 0.886650
- EURUSD
- Key Levels – 1.217708 – 1.204640
- GBPUSD
- Overall Long Trend
- Currently in continuation period
- Key Levels are 1.40658 and 1.388782
Cheers to another successful week!
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