https://forexintuitive.com/attachmen...1061215276.png
The average daily range is just one more notion in technical analysis, it has been discussed in some threads here as well. It is under utilized. I believe it is free to line drawing. Not wanting to go off topic, see how this current triangle breakout could be obtained with more assurance if you take into account the following straightforward facts:
- USD/CHF typically averages over 100 pips a day ( 24 hr period )
- above we have a triangle that breaks from a 30 and pip range during asian session, thus we can safely project a potential movement in the direction of the fracture of 30 to 80 pips based on the way you handle your trade.
Mainly its about trying to sense that the market, something such as attempting to predetermine whether the split is worth taking, and if taken to what extend can you expect it to move? Unfortunately there's no precise points to follow in this quote. Exercise is essential. Like uses fibs and pivots in combination with trendlines, I utilize this.
And of coz there are weekly, monthly, annual ranges to consider too.
Easy?
mARK