Important: Forex pairs range far, far more often than they trend.
Traders are often caught up always looking for the trend in every pair when more often than not there is no trend.
Clear case on the GBPUSD there being no clear trend either way.
You can have short term momentum, and clear on the GBPUSD that is all to the downside, but as for the trend there is none. We are in clear sideways action just as your chart clearly shows. So don’t worry about getting caught up in finding the trend when there is none. Identify the range and learn to trade with-in it.
The best way to trade ranges is not to get caught trading in the middle. The middle of ranges is where price can chops and turn and stop you out quite easily with whipsaws. Look to take trades from the extremes or in other words take trades from the highs and lows of the range, but not in the middle. That BUEB the other day was an example of a signal in the middle of a range. This would be much better down at the low of the range where major support could be found and there would also be more space to move and the risk of price chopping would be a lot less.
Mr J,
Would you be looking at trades setup in the EURUSD for reversal as it will soon touch the low/low of the range? Or continuation of the current downward momentum? Look at my chart as I am already awaiting signals, but been confused about going against the momentum as you said earlier on this topic, and avoid loses, or expect a rebounce on the low, as we are “ranging”…
Thanks again for this amazing thing you are doing here:
As I see the USDJPY there is a consoloditation (resting) (winding up), but where will it go? Would you set orders above and below of this box? to catch the next momentum? with a trailing stop? or it wouldnt be a winner A+?
Please advise doesnt matter the time you take, but answer please, this is for learning purpose so fat I already blown one account before getting stopped at this thread and demoing…
[QUOTE=“PipDom;506599”]Mr J,
Would you be looking at trades setup in the GBDUSD for reversal as it will soon touch the low/low of the range? Or continuation of the current downward momentum? Look at my chart as I am already awaiting signals, but been confused about going against the momentum as you said earlier on this topic, and avoid loses, or expect a rebounce on the low, as we are “ranging”…
Thanks again for this amazing thing you are doing here:
Look solid enough. Only thing I would have said is be very carefully trading intraday leading into the NFP in US currency pairs. This should generally be avoided leading into this announcement as the market will go nuts and picking it is like flipping a coin.
I am guessing you meant to write “understand” me and not “answer” me write? because it makes the question quite different and I did answer you, but I did not understand you.
As I said; what do you mean with your question “are there any possibilities that there will be some changes soon?” What are you looking for to change?
[QUOTE=“PipDom;506599”]Mr J,
Would you be looking at trades setup in the EURUSD for reversal as it will soon touch the low/low of the range? Or continuation of the current downward momentum? Look at my chart as I am already awaiting signals, but been confused about going against the momentum as you said earlier on this topic, and avoid loses, or expect a rebounce on the low, as we are “ranging”…
Thanks again for this amazing thing you are doing here:
As I see the USDJPY there is a consoloditation (resting) (winding up), but where will it go? Would you set orders above and below of this box? to catch the next momentum? with a trailing stop? or it wouldnt be a winner A+?
Please advise doesnt matter the time you take, but answer please, this is for learning purpose so fat I already blown one account before getting stopped at this thread and demoing…
