Where Will Prices Trade Tomorrow?
Learn About Trading Zones
Trading Zones can show the price range for the next day’s trading, and can be relied upon during trending markets
A trading zone allows experienced traders to know, in advance, where the market is likely to trade on the following day. By knowing where the trading zone is, these traders know important price levels to watch for, such as support and resistance, during the next day’s trading session. Armed with this information, experienced traders are able to trade more successfully than novices, who typically trade without market know-how.
But how do you determine tomorrow’s trading zone and how did it come about? Trading zones are a product of George Taylor’s “Book Method”. By studying market movement over time, he saw that markets trade in cycles. A trading cycle is made up of a buy day, a sell day, and a sell short day. By averaging these patterns over a series of trading sessions, Taylor’s method are quantified by calculations that result in buy and sell envelopes. In short, these envelopes are support and resistance levels, which theoretically determine the limits of tomorrow’s prices.
Taylor’s Book Method though is subject to interpretation and is reliable during periods when prices are trending, but far less so when trends reverse.
Tools such as Taylor’s Book Method are a part of an education process that would-be traders need to learn. Without a solid education in trading, it is not likely that a person will be successful.
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