Hello everyone and Happy Mother’s Day! 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 – 0.730775 – 0.726525
AUDUSD – 0.786215 – 0.783023
USDCHF – 0.902691 – 0.899180
EURUSD – 1.218153 – 1.214364
- Currently in consolidation period
- Key Levels – 0.730255 – 0.720052
- Overall long trend however we are currently in a consolidation period
- Key Levels – 0.786444 – 0.778645
- Key Levels – 0.904456 – 0.897934
- Key Levels – 1.221036 – 1.20869
- Overall Long Trend
- Potential Trend Reversal in upcoming weeks
- Currently in a consolidation period
- Key Levels are 1.40426 and 1.388691
Cheers to another successful week!
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