Need help on ranging market.
Feb 15, 2014 at 19:24
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1 Replies
Feb 15, 2014 at 19:24
Anyone can share me with their strategies on trading a side range market? I find it is quite hard to predict... By the way, do you guys take profit on the neckline, or wait untill it broke the support / resistance line only you will take profit? Need help... 😭😲
Member Since Nov 21, 2011
1718 posts
Feb 15, 2014 at 23:10
If all pairs were ranging we all would be very successfull at trading.
Here an example on EURCHF where market is ranging in between 1.21 to 1.23 since SNB is defending 1.20 area.
You have:
- 4 longs opportunities
- 4 shorts opportunities.
Don't expect market to breakout. Simply sell the top of the range and buy the bot of the range.
Look at the last Long opportunity issued on the begining of the month. => Now price will chanllenge once more the top of the range. => Close your long trade and reverse trade (sell).
SL must be set up:
- Below support for long
- Above resistance for short
Here an example on EURCHF where market is ranging in between 1.21 to 1.23 since SNB is defending 1.20 area.
You have:
- 4 longs opportunities
- 4 shorts opportunities.
Don't expect market to breakout. Simply sell the top of the range and buy the bot of the range.
Look at the last Long opportunity issued on the begining of the month. => Now price will chanllenge once more the top of the range. => Close your long trade and reverse trade (sell).
SL must be set up:
- Below support for long
- Above resistance for short
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