of great help to determine your take profit target. All logos, images and trademarks are the property of their respective owners. The biggest misconception about the ATR indicator is that traders mistakenly believes that higher ATR value means bullish trend and lower ATR value means bearish trend, which is wrong and further from the truth. Well, as the old trading aphorism says Market take the stairs up and the elevator down and its the way the market have been functioning for centuries. If the current candlestick is green, then the trend seems bullish and a long order is initiated. The reason behind this ATR volatility phenomenon is given by the fear factor. If were looking to buy we want to see a big bullish candle relative to the previous candles popping up on the chart. Upon searching for the term at Google, Investopedias article came. Share this, aTR, average True Range, eUR/USD. Lets be quite frank here, youll not find this kind of stuffs anywhere else. I went long.18 and set the stop loss.04.
The Best Average True Range Forex Strategy - An Unorthodox Average Day Range indicator (ADR) - Average True Range, ATR
One of the swing trades I did in forex last month was buying the Canadian dollar against the Japanese Yen. But that would be counter measured by the increased winning trades. On the date of my entry (15 January ATR was around.30. My trading idea would have been forgotten if it werent for another trader commenting on the chart! This is key for the success of the Average True Range Trading strategy. By default the ATR indicator is set.
How to read atr forex.
Using atr to set profit target.
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100pips- 20pips 80 pip profit target on breakout from horizontal range.
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