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 – 0.724916 – 0.720974
AUDUSD – 0.773028 – 0.768351
USDCHF – 0.910626 – 0.906526
EURUSD – 1.209344 – 1.205133
D1 Analysis:
- NZDUSD
- Upper Key Level broke and moved roughly 125 pips in profit
- Key Levels – 0.731444 – 0.713756
- AUDUSD
- Overall long trend however into deeper correction phase…potential reversal
- Key Levels – 0.776808 – 0.766327
- USDCHF
- Possible trend reversal
- Key Levels – 0.910106 – 0.902391
- EURUSD
- Key Levels – 1.217708 – 1.204640
- GBPUSD
- Overall Long Trend
- Currently in correction phase
- Key Levels are 1.40658 and 1.388782
Cheers to another successful week!
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