XAUUSD - 4H Range!

A lot of traders seem to be getting caught the wrong side of this range and losing money. We have shared a post in the past on 'Trading the range' pinned below, please have a read of this.

The chart shows the 4H range we're in together with the key levels of the range! This makes it nice and simple when you add the chart patterns and observe the structure of the chart. Now you can see that if the range support breaks we are likely to target the bottom of the range, and if we remain above the price level we are likely to test the higher levels.

When we say level to level trading, we are trading between the short term support and resistance levels within the range, waiting for a range high or range low to be confirmed so we can then take better entries.

We're going to keep this simple as the pinned post has more detail to it! Plot the range on the time frame you are trading, don't try and trade every candle at random price zones, add your MA's, add the levels! Be patient, this stops you from entering short too low or entering long too high as well as being able to manage your trades within the range if you are in the wrong way.

This is more of an educational post, we want to make clear that traders need to be charting regularly, zoom out of the chart and look at the overall picture.

As always, trade safe.

KOG