Can any trader here teach how to trade when market is in range bounce?
(1)Where is the best place to set SL & TP and entry point ? (within, beyond or just right at the support & resistance level)
(2)Doest the size of the range matter ?
(3)How much rist/reward ratio normally we can expect from it?
Thanks !
by
Pipocket
Place the stop below or above the low/high base on the direction you are trading. Yes the size of the range matters, there should be enough room for profit within. The r/r will be based on the size of the range. You want to get in at the bottom and exit before it reaches the top and vice-versa.
Cadarkitek,
That chart looks very much like GBP/USD from Friday’s session 
Extremely range bound.
Thanks…
that is so great that you share by an image.
It seems like we take neighbour candle’s leg and add a few pips above/below for SL. and entry once a bullish/bearish candle formed according to the direction of trade. the basic idea almost same like Babypips school lesson.
Well, this really require experience. if for the case in the first low point in the channel, if we entry a long… then we will stopped out by fakeout…
Anyway, still a great share if we trade that channel, winning trades still more then losing one.
Thanks
