Range trading: Forex as for 15/07/2019

by our experts for intraday trading purposes.
This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities.
What does this information give to the trader? Actually, a lot. First of all, trading signals. For example, if during a day the price approaches the upper (lower) mark, it can be concluded that it will not go higher (lower) prescribed mark today with already known probability. So, you can open a position opposite to the current movement, knowing in advance that it will be profitable with a certain probability.

Long position 1
(The price today will not fall below this mark with a probability of 68%) 1.1228
Long position 2
(The price today will not fall below this mark with a probability of 95%) 1.1205
Long position 3
(The price today will not fall below this mark with a probability of 99%) 1.1181

Short position 1
(The price today will not rise above this mark with a probability of 68%) 1.1309
Short position 2
(The price today will not rise above this mark with a probability of 95%) 1.1333
Short position 3
(The price today will not rise above this mark with a probability of 99%) 1.1357

GBPUSD

Long position 1
(The price today will not fall below this mark with a probability of 68%) 1.2512
Long position 2
(The price today will not fall below this mark with a probability of 95%) 1.2484
Long position 3
(The price today will not fall below this mark with a probability of 99%) 1.2456

Short position 1
(The price today will not rise above this mark with a probability of 68%) 1.2623
Short position 2
(The price today will not rise above this mark with a probability of 95%) 1.2652
Short position 3
(The price today will not rise above this mark with a probability of 99%) 1.2680

USDJPY

Long position 1
(The price today will not fall below this mark with a probability of 68%) 107.57
Long position 2
(The price today will not fall below this mark with a probability of 95%) 107.36
Long position 3
(The price today will not fall below this mark with a probability of 99%) 107.14

Short position 1
(The price today will not rise above this mark with a probability of 68%) 108.34
Short position 2
(The price today will not rise above this mark with a probability of 95%) 108.55
Short position 3
(The price today will not rise above this mark with a probability of 99%) 108.76

Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. Recall, that mentioned probabilities are not 100% and do not guarantee risk-free trading.