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Ranging or Trending

Ranging or Trending

Richard Krivo, Trading Instructor

Instructor's Response:Unfortunately we cannot predict what a pair will do before the fact…nothing happens until it happens.What we do know, in a general sense, is that markets are either trending or ranging. If they are trending, at some point they will begin trading in a range and if they are in a range, at some point they will begin trending. Once we have identified that a pair is trading in a range, we can trade that at support and sell at resistance. Once the pair breaks out of the range, then we would trade the trend…in an uptrend wait for a pullback to support to buy and in a downtrend wait for a pullback to resistance to sell.See the chart below for a visual....

Ranging_or_Trending_body_19085d1221803319-post-day-chart-9-18-08.png, Ranging or Trending

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