XAU/USD Daily Range & The Entry Strategy

One strategy that forex traders can use is to take advantage of the daily average range. Many argue that if the price has moved and reached its daily range then it is time to open a position. This means that if the price moves up and has reached the daily average range, then it's time to sell, and vice versa.

The range strategy is one that is favored by professional traders. This strategy benefits from taking advantage of monthly, weekly, and daily averages. Many traders think that if the price movement has moved and reaches a certain time range, then that time is a suitable range or benchmark for opening a position.

To identify the range is to identify a breakout or price bounce back and forth, or many traders identify price movements with the movement of the daily average of the movement of a currency.

Using a range trader strategy don't leave the trend, and every range goes. This is the secret of a profitable range strategy, namely using the trend.

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