I have just joined, am a complete novice, have been demo-ing for a few weeks and have these questions;
Would love any thoughts;
1) What currency cross pair is best suited to range trading?
2) What charting appliions are ideal for finding support and resistance levels in range trades? I have looked at the Bollinger band bounce, are there any others?
Range trading is one technique FX traders can use in an effort to meet with with their investment objectives. Some traders use this egy in an attempt to recognize ranges, predict how a currency or currency pair will act, and profit from these expectations. As always, no investment egy is ensured. Particular traders harness ranges to forecast that a currency will remain between particular highs and lows. However, the currency could break out of the range and then return, or it might split and form a new fad.
You get range pattern in each one of the trading pairs from major to exotic! I basically, utilize major pairs and that I get so many ranges there because I'm working together with H1 time period! By the way, I'm not interested about range market, I like to trade at the fashionable market!
The pattern:
choose one idiot: faisal13
let him pick out any missing thread, preferable 8-10 years old with no new comments
add some copy paste internet comment by faisal13 ( never has a first term, can google the texts)
have others pile in by deep significance comments, such as buy the bottom sell the cover of the range!
Another fantastic pair for range trading seems to be USD/JPY, that has long periods of consolidation, but lately there has been a definite trend for this.