EOS: How to Trade in Range Market Conditions
The price has been moving sideways in the borders of the horizontal price channel. The upper level is 3.00USD, and the bottom is at 2.30USD. So, how can we get benefits from such market movement?
We need to use trading strategies for the range markets. We buy from the bottom of the range and sell at the upper border. If the price breaks the border, we use a breakout signal and trade in the direction of a new movement. There is also a variant to use a false breakout, but for this market, this type of trading is not interesting.
The price is between the key levels, and now we should wait for a reversal signal or a breakout.
If the price moves downward and we get a reversal from 2.30USd support, it will be possible to buy with stop orders below the support and the local swing low. The main profit target will be at 3.00USD.
If the price moves upward and breaks 3.00USD resistance, it will be possible to buy with the stop orders below the local swing low and profit targets at 4.00USD and 5.50USD.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
We need to use trading strategies for the range markets. We buy from the bottom of the range and sell at the upper border. If the price breaks the border, we use a breakout signal and trade in the direction of a new movement. There is also a variant to use a false breakout, but for this market, this type of trading is not interesting.
The price is between the key levels, and now we should wait for a reversal signal or a breakout.
If the price moves downward and we get a reversal from 2.30USd support, it will be possible to buy with stop orders below the support and the local swing low. The main profit target will be at 3.00USD.
If the price moves upward and breaks 3.00USD resistance, it will be possible to buy with the stop orders below the local swing low and profit targets at 4.00USD and 5.50USD.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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