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Weeklyrange

GBP/USD Weekly Range ExampleHello Traders! As you can see this was last weeks trading range. Open, High, Low, Close Sunday Opening Price is drawn out to Friday We knew heading into this month that DXY was bullish and GBP was bearish (sessional tendencies). As I say as usual the high of the week when bearish will form either on Monday, Tuesday, or Wednesday (I personally favor Tuesday and Wednesday). The same can be said vice versa when bullish. I also when bearish the low of the week will form either on Thursday or Friday. The same can be said vice versa when bullish. Friday typically will give you a higher close from the low of the week when bearish. The same can be said vice versa when bullish. Overall last week has given traders a Judas Swing. A fake move above S.O.P (Sunday opening price), then a sell off for the rest of the trading week. Does this occur every week? No. Will it always be like this? No. This is the simplest form or most basic level of weekly market templates.
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by ForensicForex
Sunday Opening Price Bullish Tutorial Hello Traders! We know that these markets are not random and have an algorithmic structure to them. Sunday Opening Price is important to keep in mind when day trading or swing trading. Each new trading week the market will reset its oversold and overbought levels. S.O.P (Sunday opening price) allows us to see those levels WITHOUT INDICATORS! Anything above S.O.P is premium (overbought) and anything below is discount (oversold). When bullish we are seeking buying opportunities under S.O.P. Mon., Tue., and Wed is typically going to give you the low of the week. Thursday is typically going to give you the high of the week then give a mid-week reversal. Friday can also pose to give the high of the week or follow Thursdays reversal trend. The same can be said when in bearish conditions, just vice versa.
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by ForensicForex
Market Range - Anticipating Price ExpansionI have mentioned several times in my post that when a pair didn't reach its minimum range based on the 20-day average daily range, the market will compensate that "pips shortages" in the following day, in two or three days or the following week. These small ranges are more common in a flat market, where it is in an accumulation phase. "Ranging market begets trends" was the common belief back when I first started trading. I do not think it's necessarily true BUT I do believe ranging market or market in an accumulation phase, whatever you want to call it, will beget price expansion and more often than not, when the price do expand, it will pay back all the pips shortages few days/weeks earlier. How can you benefit/what are the actionable you can do from this repetitive yet tend to be overlooked market behaviour? Here are the three things I tend to use this information into my advantage : 1) Liquidity Pool will be there in a day where the range is so small because price is in accumulation phase 2) You can start managing your trades as small ranges particularly after a price expansion, means a retracement or reversal will happen. This gives us opportunities to look for either continuation trades or to move your stops to protect your profits 3) If you have a trading signal during the accumulation phase, you can expand your profit target more than usual as the smaller the ranges in the previous day(s) the bigger the price expansion would be. The smaller the ranges and the longer is the period of accumulation, the bigger the liquidity pool going to be hence the more delicious the price expansion going to be
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by sufiansaid
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