Sunday, September 13, 2009

Range-Bound Trades

  • The strength of support & resistance at the different pivot level is determined by the number of times the price bounces off the pivot level.
  • The more times a currency pair touches a pivot level than reverses, the stronger the level is.
  • If the pair is nearing an upper resistance level, you could see the pair & place a stop above the resistance level but if the price is moving up & break the resistance level & considered "upside breakout", get stop of your entry order.

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