With so much bearish pressure last week price has come to a standstill and is just ranging, Bears are also failing to push price below our support zone ( green box ) So we are waiting to see what price does, if price breaks to the downside we will see further bearish momentum, but if the bears are exhausted this could mean bulls are ready to take over and we could see a lovely run to the upside. We are sitting ready to pounce like a sniper either way.
This is a waiting game, you must have patience when trading because if you don't the markets will chew you up and spit you out.
If you are also too emotional when loosing money you will also fail, you may as well smash your laptop up and go work you 9-5 for minimum wage until you are 70 years old.
A good way to trade this sort of ranging market is to set a couple of orders ( buy order and a sell order ) about 20-30 pips either side of current market price, This way if we get a big sudden movement ( which normally happens in ranging markets ) you catch the trade... Your welcome ;p
Always trade with correct risk management.
This is a waiting game, you must have patience when trading because if you don't the markets will chew you up and spit you out.
If you are also too emotional when loosing money you will also fail, you may as well smash your laptop up and go work you 9-5 for minimum wage until you are 70 years old.
A good way to trade this sort of ranging market is to set a couple of orders ( buy order and a sell order ) about 20-30 pips either side of current market price, This way if we get a big sudden movement ( which normally happens in ranging markets ) you catch the trade... Your welcome ;p
Always trade with correct risk management.