News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3%
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Action May Swing on Chinese Industrial Profits Link: https://…
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX!
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
Strategy Series, Part 7: Trading Forex Ranges

Strategy Series, Part 7: Trading Forex Ranges

Walker England, Forex Trading Instructor

Talking Points:

  • Look for Ranges When Trends Stop
  • First Find Support & Resistance
  • Use OCOs Near Key Charting Values

While trending market strategies are always a popular, traders should have a plan when markets fail to trade in a singular direction. This way instead of being deterred by sideways price action, traders will have a plan in place to adapt to present market conditions. To help with this process, today we will continue our conversation on strategies, by reviewing the “SRTS” range trading strategy. Let’s get started!

Get the latest strategies right to your inbox! Sign up for my email list here: SIGN UP HERE

Learn Forex – EURUSD 30 Minute Range

Strategy Series, Part 7: Trading Forex Ranges

Find the Range

The first step of any range trading strategy is to find the range. This can be done by identifying key values of support and resistance on your chart. To begin, add a 30 minute chart to your screen, which includes a minimum of 1 weeks’ worth of price data. Resistance is your price ceiling and can be found by connecting 2 or more price peaks on your graph. Next, identify values of support by connecting a series of swing lows. These areas may not line up to the pip, but remember to draw these lines as parallel as possible.

Above we can see a sample range on the EURUSD currency pair. After looking at a weeks’ worth of data, support is found by connecting a series of lows near 1.1275. Resistance is found overhead by connecting a series of swing highs near 1.1350. These points create an active 75 pip range, which will become the basis for today’s strategy. It is important to clearly identify these points prior to moving forward to the next portion of this strategy.

Learn Forex – EURUSD Range with Entry and Stops

Strategy Series, Part 7: Trading Forex Ranges

OCO Entries

When trading an active range, it is always important to plan your entry as close to a support or resistance value as possible. The “SRTS”range strategy uses an OCO (one-cancels-the-other)) order to achieve this task. The idea behind this type of placement is to set one order to execute a sale at resistance, while another pending order, to buy the market, resides at the corresponding value of support. This way, if price is trading in the middle of the range you will be prepared to buy or sell regardless of the direction of the market.

Above we can see a sample range setup developing on the EURUSD. An OCO order would be set looking to sell the EURUSD at 1.1350. Conversely a buy order would be set to enter the market at 1.1275. With price currently in the center of the range, a move to resistance would execute the pending sell order while canceling the buy order below at support. If instead price first moves to support, the pending buy order would be executed while the sell entry at resistance would be canceled.

Learn Forex – EURUSD with Sample Limit

Strategy Series, Part 7: Trading Forex Ranges

Stop and Limit Placement

Just as trending markets can come abruptly to an end, so too can ranges. Eventually when price breaks from its range, any existing trades should be closed. When initiating a buy order, stop orders should be placed above resistance. Any easy way to determine the exact placement, is to take half the value of the range in pips, and add this to the top of the range. When buying support, stops can be managed in the same way; subtract half the range in pips from support, to find your final stop placement.

When it comes to profit targets, basic range trading strategies will use a standard 1-2 Risk:Reward ratio. This means that you limit placement should look for twice the amount of pips relative to your stop. For example, if a sample range has a 100 pip range, a minimum 100 pip profit target is suggested along with a 50 pip stop.

Strategy Series, Part 7: Trading Forex Ranges

Learn More

This “SRTS” range trading strategy is just one installment of an ongoing article series on market strategies. If you missed one of the previously mentioned strategies, don’t worry! You can catch up on all of the action with the previous articles linked below.

Strategy 1: Trading Inside Bars with OCO Orders

Strategy 2: The Easy MAC

Strategy3: The CCI Swing

Strategy 4: The HI-Low Breakout

Strategy 5: Day Trading Market Reversals

Strategy 6: Trend Trading with ADX

---Written by Walker England, Trading Instructor

To contact Walker, email Follow me on Twitter @WEnglandFX.

To be added to Walker’s e-mail distribution list, CLICK HERE and enter in your email information.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.