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GBPJPY 1H BEST ATR FOREX TRADING STRATEGY #3QUESTION - WHAT ARE THE BEST FOREX TRADING STRATEGIES. #3 - BEST AVERAGE TRUE RANGE FOREX TRADING STRATEGY Step #1: Make Sure Your Chart Setup Configuration Looks the Same as our Price Chart The Average True Range Trading strategy has a chart configuration with two windows: The first window should contain your favorite currency pair. The second window should contain the ATR indicator with the 20-EMA attached to it (use the above instructions in order to overlay the 20-EMA). Step #2: Wait for ATR Indicator to Break Above 20-EMA A breakout in the ATR indicator reading above the 20-EMA is indicative of higher volatility to come. With higher volatility, this also means trading opportunities and bigger profits to be made. A break of the ATR line above the 20-EMA can be a great proof of a new trend. The Average True Range Trading strategy incorporates not just the ATR volatility readings, but it also looks at the price action to confirm the increase in the ATR volatility. This brings us to the next step of the best average true range Forex strategy. Step #3: Check the Price Chart to Ensure the ATR Breakout is Followed by a Price Breakout After the ATR line broke above the 20-EMA we want this to be followed by a break in price as well. If we’re looking to buy, we want to see a big bullish candle relative to the previous candles popping up on the chart. If the price breaks up and is accompanied by a break higher in volatility, there is a high probability of the market to move in the same direction. Now, all we need to establish is how to enter the trade. If we already have an idea of where the market is most likely to move. This brings us to the next step. Step #4: Enter Long Once We Break Above the High of the Breakout Candle Depending on your preferred time frame, you’ll have to wait until the breakout candle has been developed. Then enter long once the next candle breaks above the high of the breakout candle. This is key to the success of the Average True Range Trading strategy. You need a big bold candle to confirm the ATR breakout. You’ll learn soon that the ATR indicator will break many times above the 20-EMA. But it won’t be confirmed by the price action in which case you don’t want to execute any trades. The ATR indicator is a great tool to use when it comes to establishing profit targets. This brings us to the next step of our Average True Range Trading strategy. Step #5: Your Take Profit Target Should Be Equal to the ATR Indicator Value The ATR indicator can be of great help to determine your take profit target. This is self-explanatory because if you know how much, on average, the market is prone to move, we want to conform to this reality and have that as a target. In our case, we can see the ATR volatility reading has a value of 26 pips. This means our profit target should be calculated 26 pips above the high of the breakout candle. The breakout candle high is at 1.3213 and adding 26 pips to that price we end up with a profit target at 1.3240. Add 26 pips for each TP 2, 3 & 4. Step #6: Place the Stop Loss below the Breakout Candle Low In trading, you have to learn to always protect your back and hide your protective stop loss at the most logical point. A break below the breakout candle low will invalidate our trade idea. This is the place where we want to hide our protective stop loss. Note** The above was an example of a buy trade. Use the same rules – but with the only difference that you need a bearish breakout candle – for a sell trade. Conclusion The Average True Range Trading strategy provides you with an unorthodox approach to trading. It combines both the market volatility and the price action to provide us with the best trades possible. We hope that by now you’re sold out to the power of the ATR indicator’s ability to forecast the market with a high degree of accuracy.
Long
by Tradingstrategyguides
3
S&P500 SHORT MARKET OVERBOUGHT We've seen a more than 50% retracement from the lows of the collapse. That was predictable. Now it's time for the short/mid term crowd to take profit, and we are already seeing this process. The trade is partly technical, partly fundamental too. I believe there is a recession ahead and stocks are way too expensive for such scenario. Looking form a technical perspective, those who had cash and were buying, have already bought. The buybacks, that were the key driver of the stock market are supposed to dry up. There is no extra cash now in the companies coffers. Especially given that even with the fed stepping in, the debt market is shallow, and companies can't borrow nearly as much as they could before the lockdown. The trade is short term in theory, and I will close half the position at the first take level. however, that might prove to be a half a year trade eyeing the -50% market-to-market fall. We are clearly in a bear market now, and I remind you, that bear market is a bitch and is very hard to trade. So your risk management should be supreme. Guys, please, support the channel with the like. I rally appreciate that! Wish you luck!
AMEX:SPYShort
by ProSignalsFx
19
EURUSD - Possible long opportunity. Hi, EUR USD broke thru our downtrend line and positively retested it and gave us a big engulfing candle afterwards, which would indicated short-term bullish opportunity . My entry point is located at retest of 61.8 FIB and initiated targets are: 1.272 FIB which also is 1:1 projection of first wave, my 2nd target is 1.618 FIB which is also my final take profit and it occur in double top are of previous high from 9th of march 2020, where also lies a strong resistance on 1W. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
Long
by Coder775
1
Rising Wedge - Take-Two InteractiveThe chart pattern is showing a rising wedge. While technical indicators are showing we are below two moving averages 20 and 200 (acting as resistance). MACD, RSI and DMI showing bulls are running out of buying power. TD Sequential is about to give us a SELL signal with a "red 2", below "red1", below the "green 9". If the stock market does continue to rise, I think we can bounce off the 50 moving average. However, If the 50 days moving average doesn't hold, and support fails (around 114-116), there will be a lot more downside to come. I will look to take profit if I am holding this stock.
NASDAQ:TTWOShort
by johninvest17
BITCOIN - Ascending Channel - SuperTrend reversal - 17% targetMy test bot triggered a buy signal about one hour ago on Bitcoin: BINANCE:BTCUSDT It is good to see that we are in an Ascending Channel The SuperTrend reversed, the take profit target is 17%, which has been a good number in the backtests I made. The trade could have been filtered out by the ADX filter I included in the strategy but it was not, meaning we are in a trending market. The SuperTrend will be used as a natural trailing stop loss, securing our trades. Stay tuned! Backtest below.
Long
by cyatophilum
3
Break And Retest On EURUSDOn the daily time frame on EURUSD, price looked like it wants to downtrend. So on the one hour time frame, I was looking for selling opportunities. thus on the daily, there is a possible 1-2-3 move, and on the one hour time frame, I made a trend line. To continue, price broke this trend line and retested. As all this was happening, price remained below the 50 moving average, thus indicating a sellers market. Finally, with the stochastic indicator reading over bought, this was the final indicator i needed to confirm price may potentially continue down trending on the daily. The green zone marks take profit potentials, and the red zone marks a stop loss, great 3:1 ratio in profit potential. Also, from the previous high, to the previous low, the Fibonacci retracement is on a perfect 50%
Short
by AzzenWazHere
6
HEAD AND SHOULDER UPDATEHello traders, this is an update on an idea published earlier this week. Price got rejected at previous support and we assumed the possibility of a head and shoulder pattern developing. We monitored price action at the right shoulder where we look for signs of rejection for the reversal to take 4 buy position. Our first position was 50 pips and the rest increased by 50. Target 1 for 50 pips, target 2 for 100, target 3 for 150 and awaiting our final for 200. If successful, we will accumulate 500 pips here. We have gotten 3 targets and now hoping for the 4th risk free. This pattern gave us a successful trade and I am happy I was able to share the idea for educational purposes. Have a plan, have a strategy, analize, be patient and execute. Traders should not predict the market but react from it. Trade smart, don’t gamble!
Long
by PipTips
1