Welcome! Dear Traders,you are reading my forex trading experiences. Forex trading is a very profitable and very risky business opportunity. If you are a beginner, calm down,have a cup of coffee, and convince yourself that you need to study hard to win in forex trading. Obviously, the task is not easy as the statistics claim that only 5% traders win in forex trading. If you are determined, serious,and hard working, you can surely be included in the group of winners.

HOW TO TRADE FOREX WITH DEMARK'S PROJECTED RANGE TECHNICAL INDICATOR

Hello Traders, today I am going to introduce you with a new forex technical indicator named Demark's Projected Range developed by Tom DeMark. The indicator is very effective for scalping. In the image bellow, you can see the formation of the indicator. The interpretation of this indicator is explained along this post.

Source: cmsfx.com
The indicator illustrates the range with high and low marked with dots.

If the next candle opens within the projected range, the price is supposed to stay within the projected range for this period.

If the next candle opens above the projected range, the price is supposed to remain uptrend in the period.

If the next candle opens below the projected range, the price is supposed to remain down trend in the period.

Honestly speaking, this indicator is not a good indicator for professional traders. I personally do not use this indicator because I am not a short term trader.

The indicator can be effectively used for scalping on 5m, 30m, and hourly charts.

If you have any suggestions, questions or complements, you can drop a comment in the comment section below.