My preference is find the support/resistance levels and enter their breakouts with the break-hook-go strategy on the 15m chart.
I also watch the Macd for direction, pullbacks, & momentum moves.
What is your Range Trading Strategy - share with us in the comments below.
Komen
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Possible 15m Range Breakout Long
Komen
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3 failed break-hook-go attempts protect you from entering too early with fake breakouts. Either timing of the market for the breakout was not there or this may end up being a short breakout move.
Komen
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Price is in-between 2 ma's shows indecision. Macd has broken below 0 level line shows either indecision or possible new bearish direction.
Komen
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Pair had bearish move but now has returned back into range.
Komen
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Inner Range Scalp Trade - Buy Stop at 100 sma and Take Profit Inner Range Top -
Komen
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Pair did hit long scalp target and almost hit first long target.
Komen
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Wait for right pull back. Price moved in 3 long body 15m candles from 2460. to 2887. - needed to rest. Price far away from ma's, needed to center back toward 50 sma. Macd was far away from 0 level line indicating possible short pull back coming. I will switch to a 5m chart to watch for the right pull back. 5m pull backs can be powerful because they can retrace back a lot of price. I watch how price reacts to the 50 and 100 sma to see if they create support. This pair price has fallen back to the inner range top resistance level as support. Now we watch to see if price re-enters inner range or moves back above the 50 sma. I will have a bull stop above the 50 sma. I also will have a sell stop @2500.0 just below the inner range top and 15m 100 sma.
I've closed my position (stop reached)
It trades 8% lower from the highest price.
VishalTR
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i agree with you.... Same view here as well.
Tradingstrategyguides
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@VishalTR, Nice it is good to see a different perspective. Thanks
rmetz
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I've opener a long position @2823 dollar.
Little too late maybe with target @2898
That gives a small profit or it will pass the green topline.
Tradingstrategyguides
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@rmetz, Before I re-enter when price is at the top (I can tell that when macd is far away from 0 level line) I will switch to the 5m chart. I watch the 5m macd to cross back below the red signal line and fall back towards the 0 level line. 5m pull backs can cover a lot of price before it turns back long for a bullish continuation move. Hopefully you got some profit or closed out with a small loss.
It trades 8% lower from the highest price.