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 – 0.675187 – 0.671822
AUDUSD – 0.737563 – 0.732219
USDCHF – 0.907212 – 0.90255
EURUSD – 1.19254 – 1.185471
GBPUSD – 1.338387 – 1.328022
- break of last week’s zones occurred to the upside
- continuation of long trend
- overall long trend
- continuation of long trend with break to the long side of upper zone
- overall short trend
- waiting for correction or complete reversal
- heavy support level
- We can expect sideways movement or trend reversal in the upcoming weeks
- in consolidation period
- We can expect sideways movement or trend reversal in the upcoming weeks if key levels break to the downside
- overall long trend
- at supply zone
- upper portion of last week’s zone broke to the upside for a continuation of long trend
Cheers to another successful week!
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