KaKeungChoi

USDCHF-Large Range Trading Zones

FX_IDC:USDCHF   U.S. Dollar / Swiss Franc
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USDCHF-Large Range Trading Zones

Price has been moving in large range for over 5 months between the two white lines here in this chart.
as power not show any clear direction of breaking these two range,
therefore, trade by sight using S/R zones as the entry indication for sells and buys.


Trading the S/R Zones

Trading Rules:
All S/R Zones has power to reverse the trade, but once broken with a closing candle Support zone will become Resist zone, and Resist zone will become Support zone .
Only trade when levels in zones are touch for the first time with a 1 hour engulfing candle to confirm the reverse.
Do Not chase price, let the price come to the S/R zones before entries.
S/R levels between zones can be use as Take Profit or stop lost location.