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 – 0.701579 – 0.698192
AUDUSD – 0.741690 – 0.738637
USDCHF – 0.920748 – 0.917962
EURUSD – 1.183055 – 1.178683
- Currently in a short trend
- Consolidation period
- Key Levels – 0.703115 – 0.696512
- Currently in a short trend
- Key Levels – 0.744344 – 0.738083
- Currently in a long trend
- Key Levels – 0.921362 – 0.915848
- Overall short trend
- Key Levels – 1.183675 – 1.177574
- Overall Long Trend
- Potential Trend Reversal in upcoming weeks
- Key Levels are 1.381115 – 1.371516
Cheers to another successful week!
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