Beginner Questions - Range trading

Greetings all,

I have just joined, am an absolute beginner, have been demo-ing for a few weeks and have the following questions;

Would appreciate any thoughts;

1) What currency cross pair is best suited to range trading?

2) What charting tools are best suited to finding support and resistance levels in range trades? I have looked at the Bollinger band bounce, are there any others?

Many thanks,

Green

Just have a look on daily charts, put the ATR and u will see which currency trade in range most of the time.

I agree with you Mike59
The charts and ATR tells everthing..

Range trading is one technique forex traders can use in an effort to meet their investment objectives. Some traders use this approach in an attempt to identify ranges, predict how a currency or currency pair will behave, and profit from such expectations. As always, no investment strategy is guaranteed. Certain traders harness ranges to forecast that a currency will remain between certain highs and lows. However, the currency could break out of the range and then return, or it could break out and form a new trend.

There are many pairs that have long periods of range, but I think that EUR/USD is the most obvious example, despite its recent impressive rally.

The general rule of range trading is: buy in the lower level and sell from the upper level of range!

You can use any pair or instrument for range trading.

I wouldn't recommend to use any indicator, just the chart itself.

Only thing that works in the financial markets is support & resistance.

You definitely get range pattern in all of the trading pairs from major to exotic! I basically, use major pairs and I get so many ranges there since I am working with H1 time frame! By the way, I am not interested about range market, I like to trade in the trendy market!

seriously?

the pattern:
take one idiot: faisal13
let him pick out any lost thread, preferable 8-10 years old without fresh comments
add some copy paste internet comment by faisal13 ( never has an original word, can google the texts)
have others pile in by deep meaning comments, like buy the bottom sell the top of the range!

rookie talk! yay!

Another good pair for range trading seems to be USD/JPY, which has long periods of consolidation, although lately there has been a definite trend to it.

You still need to deploy some kind of strategy in order to trade the borders of the range.

How do you tend to trade those areas?

Sorry to comment here, can't find anything about the Dow Jones. I'm fairly new to trading but have been making reasonable profits recently. However I'm stuck in Dow Jones short trade. Any views on when it's gonna move down?

I was also short in SP500 but closed it for BE

I think that it's hard to decide now that shorting is the right idea, most odds we can see higher prices (see attached daily chart with S & R levels)