The current price action we've seen the passed week, has forced me to adapt and try to profit of ranging markets and develop a strategy. I have 3 daily zones which price is ping ponging off with the middle zone more like a pitstop.
I'm using the Williams Percent Range as I believe this is the best indicator for range trading. Larry Williams himself stated in his book, "as a matter of record, it was designed to help me as it identified the tops and lows of trading range markets with explicit exactness.”.
Currently price is in the middle of the Bollinger Band and ADX is way below 25.
It's important to note that I'm not using these as range identifiers but rather as confirmation. I am using price action and the fact price hasn't broke both support and resistance as the identifiers and supplementing it with the indicators.
Price is in the middle of the Bollinger band and middle zone and honestly I am looking for a short on the retest of the middle zone although I wouldn't recommend it. It all depends at NY open.
I look forward to feedback and a different perspective.
I'm using the Williams Percent Range as I believe this is the best indicator for range trading. Larry Williams himself stated in his book, "as a matter of record, it was designed to help me as it identified the tops and lows of trading range markets with explicit exactness.”.
Currently price is in the middle of the Bollinger Band and ADX is way below 25.
It's important to note that I'm not using these as range identifiers but rather as confirmation. I am using price action and the fact price hasn't broke both support and resistance as the identifiers and supplementing it with the indicators.
Price is in the middle of the Bollinger band and middle zone and honestly I am looking for a short on the retest of the middle zone although I wouldn't recommend it. It all depends at NY open.
I look forward to feedback and a different perspective.