This strategy involves waiting for market volatility to reveal a range before trading a break of that range and makes use of a five-minute chart. For illustrative purposes this section incorporates the US Non-Farm Payroll release as this often has the greatest potential to move the market.
The disadvantage of this strategy is that volatility can push price above or below the short-term range, triggering an entry order, and then immediately reversing to hit a stop loss.Customize the chart settings to show 5- minute chartsSet entry orders when price breaks above or below the rangeThe market can trade in one direction immediately after a major news release only to reverse and trade in the opposite direction.
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Source: FXStreetNews - 🏆 14. / 72 Read more »