You know is approximately 70% of transactions in the Forex market time in time limits? Trending market takes only 30% of transactions a year. You can see any chance that it? This is good, if you see it. When the market is range and then a good range of trading strategy will help you win the game.
Ranging market is easy to identify because you're a technical analyst. Check out what your main weapon, your chart. When you see a market is trendless or non-trending or oblique then you meet a comprehensive market. Ranging market reflects a balance of fighting powers in a market i.e. bulls and bears or buyers and sellers. Also tells us the market expects something potentially important news that could yield large influence on the market. In this kind of market, the price moves within a very narrow limits.
The best strategy when dealing with varying market should be applied. Now let's grab one of the region the best trading strategies. This strategy is very simple and it will be easy for you to understand even if you're a rookie to Trade forex.
First thing to do before applying this range trading strategy is the calculation of the price range of the day, if it has already reached an average of five days and around then, wait a moment, take a look at charts, both 5 minutes and 15-minute. In both chart that you can apply after technical indicators: Bollinger Band stochastics with the default parameter.
Then, you should keep an eye on the first market retracement, when they're garnered enough retracement i.e. 50% or 61.8% of the previous animation and then you can expect the market will fluctuate as soon as possible. Your time is when the entry price touches the upper zone of the Bollinger band into two charts and your exit strategy is when you see the 5-minute chart price touches the lowest band of Bollinger band and simultaneous stochastic or about to move upwards from oversold zone should consider leaving your seat. Quite often, at the same time, in a 15-minute chart you can see the middle zone hits of Bollinger band.
In normal situation usually market will last long enough so you can get plenty of trading opportunities. Value will warrior within zones Bollinger and it will be easier for you to determine the limit of the range. Use stochastic buy an additional tool to identify and sell signals. Now go try this spectrum trading strategy, exercise more often, and sharpen your skill timing. Just remember to always stop loss level as we know never when the previous trend of the market you want to continue.
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Article source: http://ezinearticles.com/?expert=simon_grimshaw
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