Range trading: Forex as for 30/08/2021
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
Long position 1
(The price today will not fall below this mark with a probability of 68%) 1.1762
Long position 2
(The price today will not fall below this mark with a probability 95%) 1.1744
Long position 3
(The price today will not fall below this mark with a probability 99%) 1.1726
Short position 1
(The price today will not rise above this mark with a probability of 68%) 1.1838
Short position 2
(The price today will not rise above this mark with a probability of 95%) 1.1856
Short position 3
(The price today will not rise above this mark with a probability of 99%) 1.1873
GBPUSD
Long position 1
(The price today will not fall below this mark with a probability of 68%) 1.3698
Long position 2
(The price today will not fall below this mark with a probability 95%) 1.3671
Long position 3
(The price today will not fall below this mark with a probability 99%) 1.3644
Short position 1
(The price today will not rise above this mark with a probability of 68%) 1.3826
Short position 2
(The price today will not rise above this mark with a probability of 95%) 1.3853
Short position 3
(The price today will not rise above this mark with a probability of 99%) 1.3880
USDJPY
Long position 1
(The price today will not fall below this mark with a probability of 68%) 109. 40
Long position 2
(The price today will not fall below this mark with a probability 95%) 109.20
Long position 3
(The price today will not fall below this mark with a probability 99%) 109.00
Short position 1
(The price today will not rise above this mark with a probability of 68%) 110.18
Short position 2
(The price today will not rise above this mark with a probability of 95%) 110.38
Short position 3
(The price today will not rise above this mark with a probability of 99%) 110.58
Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. About mentioned probabilities are not 100% and do not guarantee risk-free trading
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source https://www.smartmoneymanagement.info/2021/08/range-trading-forex-as-for-30082021.html
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