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Strategies & Market Trends : Trading From Main Street.
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To: Brandon who started this subject11/27/2001 5:22:35 PM
From: Brandon  Read Replies (1) of 226
 
Trading in a range bound market has always been for me one of the harder things to do, but here is an example of a pretty good trade in one.

You can see on the 120 minute chart that the range was unable to break, so thats the most important thing..we are still in a range..and knowing that you will look for something to tell you to short it because we are at the top of the range. Looking at the 15 and 30 minute charts, they are both saying the same thing..very big run up (so at least a rest) and to the top of its band (avg range). Now looking over at the two minute chart, in the circled area you can see where it starts to break down, you can make out the three lower highs. The agressive thing to do would have been to work shorts starting in there, with an additional trade being offered at on the bear flag to the 20ema. So the first shorts would have been between 40.80 and 48.90 with a stop above 41 (HOD at that time) with your downside objective being around 40/40.25. Then as it came down and bounced off the lower band, you had the bear flag offering another entry at 40.50/60 with a risk to about 75. This would have been a bit more aggressive to take since you dont have any protection on the earlier entry though.

tradingfrommainstreet.com
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