EURUSD: Range Market Conditions and How to Trade

After a solid trend reversal signal, the price didn't move toward but started a sideways movement. We can draw a price channel with 1.17550 and 1.20000 borders. If so, we have to follow the rules for the range market conditions and buy from the support and sell at the resistance.

If the price breaks the support zone, it will be a bearish signal in the line with the trend reversal signal from the daily chart. The breakout above 1.20000 will confirm the bullish trend.

Here is an example of a possible long trade IF the price reverses from the support zone one more time:
Buy above 1.17915
Stop below 1.17280
Profit Target at 1.19850

Risk per trade must be no more than 2% of the capital.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.