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Monday, June 28, 2021

Range trading: Forex as of 28/06/2021

Range trading: Forex as of 28/06/2021

Calculations of the fluctuations range for the present day are published in this section. That is, at the very beginning of the day, you can determine the maximum and minimum of this day (with a known probability).
What does this information give? In fact, a lot. But first of all, these are guidelines for trade. For example, if during the day the price approaches the upper (lower) mark, you know that it won’t go above (below) this mark with a particular probability today. Accordingly, you can open a position opposite to the current movement, knowing in advance what the probability is to be profitable.

EURUSD

snapshot

Long position 1
(the price today will not fall below this mark with a probability of 68%) 1.1880
Long position 2
(the price today will not fall below this mark with a probability of 95%) 1.1850
Long position 3
(the price today will not fall below this mark with a probability of 99%) 1.1820

Short position 1
(the price today will not rise above this mark with a probability of 68%) 1.1982
Short position 2
(the price today will not rise above this mark with a probability of 95%) 1.2012
Short position 3
(the price today will not rise above this mark with a probability of 99%) 1.2042


GBPUSD

snapshot

Long position 1
(the price today will not fall below this mark with a probability of 68%) 1.3805
Long position 2
(the price today will not fall below this mark with a probability of 95%) 1.3772
Long position 3
(the price today will not fall below this mark with a probability of 99%) 1.3740

Short position 1
(the price today will not rise above this mark with a probability of 68%) 1.3961
Short position 2
(the price today will not rise above this mark with a probability of 95%) 1.3994
Short position 3
(the price today will not rise above this mark with a probability of 99%) 1.4026

USDJPY

snapshot

Long position 1
(the price today will not fall below this mark with a probability of 68%) 110.35
Long position 2
(the price today will not fall below this mark with a probability of 95%) 110.16
Long position 3
(the price today will not fall below this mark with a probability of 99%) 109.97

Short position 1
(the price today will not rise above this mark with a probability of 68%) 111.14
Short position 2
(the price today will not rise above this mark with a probability of 95%) 111.34
Short position 3
(the price today will not rise above this mark with a probability of 99%) 111.53


Calculations are based on historical data, and there is no history recurrence on a specific day. We remind you that the indicated probabilities values aren't a 100% guarantee of risk-free trading.


from TradingView Ideas https://ift.tt/3jkYlFJ
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