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 – 0.719076 – 0.715612
AUDUSD – 0.777671 – 0.773296
USDCHF – 0.932816 – 0.928221
EURUSD – 1.196807 – 1.192670
- Currently in a consolidation period
- Key Levels – 0.721822 – 0.713756
- Overall long trend however we are currently in a consolidation period
- Key Levels – 0.782717 – 0.772205
- Long Trend Overall
- May be entering deeper correction phase or consolidation period
- Key Levels – 0.935064 – 0.924837
- Lower Key Level broke last week and went roughly 25+ pips into profit
- Currently entering potential consolidation period or correction phase
- Key Levels – 1.198877 – 1.187034
- Overall Long Trend
- Currently in correction phase
- Potential consolidation period
- Key Levels are 1.396042 and 1.376815
Cheers to another successful week!
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