$TLT Probable Range for 3-1-17
$TLT Probable Range for 3-1-17
120.7 - 122.6
It looks like this probable range is in for a rough ride today. I typically look at probable range through two lenses:
- Does the actual daily range fall within the probable range and;
- Does the daily close fall within the probable range
If either both of the above are true, or if the daily close falls within the range, then the probable range is considered a success.
Of course, if you are trading the market and have stops set fairly tightly based on the probable range, then from time to time your stop could be triggered even though the daily closing price ends up falling within the range.
The probable range is designed to be an additional tool that you, as a trader, can use to evaluate your trading strategy. The range can also be used to help determine the direction of the market as well as potential points where reversals may occur.
The ways the range may be used are as diverse as the traders who choose to use it. If you have any questions or comments please feel free to share them.
Chart Analysis uses a combination of technical analysis and cycles to provide insight into the future direction of precious metals, currencies, stock indices and more.
