Check out the 400 Pips in 1 Week we squeezed out of the EUR/JPY with our sweet and simple, Forex Range Trading Strategy. When price is not trending up, nor trending down, you need to implement our special Forex Range Trading Strategy. This Forex Course is for all trading levels: beginners to advanced.
What is a Range?
When you don't have an uptrend or a downtrend, you have what is called a Range. In other words, you have No Higher Highs, and No Lower Lows. Price is simply moving sideways in a nice and concise Range.
3 Step Forex Range Trading Strategy:
Step 1: Entry - You look for Reversal Patterns at either the Range High or the Range Low.
Step 2: Stop Loss - Comfortably placed Above the Range High or Below the Range Low.
Step 3: Take Profit - Opposite Side of the Range.
Once price executes your Take Profit setting, now price is at the opposite side of the Range. You can look for a Reversal Pattern and a trade in the exact opposite direction. If a Reversal Pattern is present, then you initiate Steps 1 thru 3 above for a trade in the exact opposite direction. In other words, you can continually trade from Range High to the Range Low and vice versa - from the Range Low to the Range High. Simply follow our 3 Step Forex Range Trading Strategy, when you identify Reversal Patterns at the Range Lows and the Range Highs.