aud japan
Range trading actually works in a market with just enough volatility due to which the price goes on wiggling in the channel without breaking out of the range. In the case the level of support and resistance breaks you should exit range-based positions. The most efficient way of managing this type of risk is the use of stop and limit orders as most traders do. They place stop limit orders when the currency price keeps dropping below the entry point and set the limit order to make profit when the security moves to the top of the range. In other words, while selling a range you should set limit orders down near the support level to take profit and while buying, you should place take profit or- ders at the previously defined resistance level......