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This is the basic premise of how I trade. Usually after a big downwards or upwards move there is a period of consolidation (ranging) the best way to trade this 'Chop' is to plot a range high after a big bounce, then plot a range low from the low where the bounce came from. Create supply/demand zones off these range highs and lows. Lastly plot a mid range. Then simply buy tests of the demand zone and short test of the supply zone. Take profits at the mid range.
In this scenario we got 6 trades totalling a gain of 27% which is great!
This is the basic premise of how I trade. Usually after a big downwards or upwards move there is a period of consolidation (ranging) the best way to trade this 'Chop' is to plot a range high after a big bounce, then plot a range low from the low where the bounce came from. Create supply/demand zones off these range highs and lows. Lastly plot a mid range. Then simply buy tests of the demand zone and short test of the supply zone. Take profits at the mid range.
In this scenario we got 6 trades totalling a gain of 27% which is great!