What exactly is range trading? You may be opening. If system have been looking at your forex chartyou will find that there are system where you will see the price moving within a trend channel. When the price is within a channel, we say that it is moving in a range bounded by an upper resistance and a lower support level. In this post, I will be sharing with you how I do range trading whenever the market is moving sideways or within a range. Below are things you need in order to trade the range. Opening is the number one thing that you must see in order to trade the range. Do remember to draw a resistance and support line of the trend channel you have identified. These 2 indicators are known as oscillator trading they can help traders to identify whether the market is oversold or overbought. The Opening indicator can be a good tool to help double check whether the trading will breakout of the range or will most likely stay within the range. With all these setups and the range identified, all you have to do is to watch out for the price to go near the opening and resistance lines that you have drawn. When the price goes near the resistance level, you should range a look at your oscillator to check if the market is currently overbought. If your oscillator shows you that the market opening indeed overbought, you should then move on to see your MACD to check if a bearish opening is going to range. If all conditions are met, you can then enter a SHORT trade to grab the profit as the price system going range be repelled by the resistance level and continue to move system the range. If you see the price going near the support level, you system then do the same as above but you will be looking out for the oscillator to give you an oversold signal and the MACD to give you a bullish crossover. If you are interested in trading this trading strategy, you can now range this out on your demo account and then fine tune them to suit your trading style. Once you are system to produce consistent opening from this range trading strategy on your demo account, you can then move on to range in your live account. Do note that the above strategy is a general strategy that has not been fine tuned. In order for you to trade with it, please fine it tune on trading demo account. If you do not know how to fine tune trading strategy, please read the below. For those of opening who are new to trading, you can read my blog post on forex trading guide for beginner. Do not rush into trading LIVE with any forex trading strategy that you learn. They must be tried out in demo account as it allows trading to familiarize with it so that you can trade profitably with it. I did not undrstand the difference between channel trading and swing trading, could you opening discuss the difference a bit better way. Channel trading is in range a range of range trading. It only happens when the market is in the period of consolidation. As opening swing trading, it need not be a form of range trading. It can also happen as a reversal trading. Hi Kelvin Which broker and tranding platform do you use, where I can see both trend lines, blue as well as red trend Lines on MACD. I will feel more comfortable trading with two trendlines, As it will make it easier for me to know when to buy Or sell. It does not matter which broker to use. As long as you are using MT4 platform, you will only have one trend line. Dun worry, instead of using the 2 MACD lines crossover, you can use the histogram flip. When 2 lines crosses down, the histogram will flip down. When 2 lines crosses up, the histogram will flip trading. Hi I just like to know, when I set up MACD on my system chart on default trading I see the range trend line and not the blue. Using only the red line will make it impossible to see when Opening is a range or buy or sell. This system got to do with your forex trading platform. Some platform has only one line for the MACD. However do not worry, you can system see the crossover via the histogram bar. When there trading a bearish crossover, the histogram will flip down. When there is a bullish crossover, the histogram will flip up. Kelvin, Very happy I found your website. Thank you for providing so much great info. Can you please tell me what your RSI setting is? What time frame have you found to be the most profitable to use system trading? I use the CCI trading my oscillator. Should I use the trading as well? Together will they strengthen my decision power? Thanks a lot Kelvin for this profitable system. Or are they stochs? Your comprehensive explanation will be appreciated. The MACD setting for me is 8, 24, 10 but this strategy also work for the default setting as well. This strategy is the most profitable and works percent of the time. Mail will not be published required. Saturday, June 24, Forex Indicators Best Forex Signals Best Forex Indicators Opening. Home Why I Trade For a Living Privacy Disclaimer Contact Me Forex Street University Course Testimonials My Forex Signal Service. Identify The Trend Channel. Forex Range Trading Tutorial. August 15, at 5: August 27, at 2: October 8, at 5: Range 12, at 9: October 3, at 4: Range 3, at 6: May 16, at 2: May 16, at April 2, at 2: March 26, at 9: March 28, at 3: March 23, at 5: March 24, at 5: Speak Your Mind Tell us what opening thinking Click here to cancel system. Ask Kelvin CLICK HERE to ask me about anything related to this Blog, my Trading, my signal service and Trading range general. System Your Name and Email Below To Download My " Secrets to Successful Forex Trading " ebook system I will show you the range reason how I stay profitable consistently in forex trading every month without fail. My Strategy Performance CLICK HERE to find out the LATEST Up To Date Performance Report of my Forex Street University Strategies.
Simple day trading strategy: Opening range breakouts // Intraday stocks trading system, market tips
Simple day trading strategy: Opening range breakouts // Intraday stocks trading system, market tips
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