GoldViewFX - RANGE MANAGEMENT SETUP

Hey All,

We will post our usual analysis for the week on our weekly GoldView report shortly before market opens. This is a quick post using historical ranges using range HIGH and range LOWs to create support and resistance trading zones and the range of the potential swing in the trading zone.

Its really important, as a trader to identify the potential reversal in order to manage the reversal on your equity and exposure without making rational cuts too early or hold a reversal, when the swing range is too big for your exposure. Every trade entered; 8 out of 10 times it reverses, we need to work this into our trading psychology in order to make room for this in our risk management and make sure the potential swing falls within our risk appetite.

We have highlighted the zones to BUY and SELL with the central zone for take profit, which is inline with the ranges consolidation area allowing any swings and momentum based movement to come back to this range for consolidation, providing a safe zone to take exits before you find yourself trading against the range and outside of the SWING RANGE. If you find yourself trading against the range, it should only be within the swing range, which provides more confidence in coming back into direction then stretching out your equity, with no plan or a range management map.

We hope you find the range management map useful for the current range and it helps you to see a clearer picture of what the price is doing. Remember nobody can tell you what the market will do or predict the movement 100%. The best anyone can do is use historical data to have a better idea and speculation of what the price may potentially do, based on what it did before and how it reacted to similar market dynamics before.

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GoldViewFX
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