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NZDUSD back to the previous channel?The uptrend was long and clear before to break the resistance at 0.62624, pushing up the price over the EMA 200. The price started to collapse breaking again on the support at 0.64130. This range, that we called action area is for us the best section to entry short reaching the TP1 and TP2 (only if the market will break the support at 0.62624). Let us know if you like our idea, leave a comment with your opinion and don't forget to follow us! Enjoy Traders! GMPinvestors
Short
by GMPinvestors
EURAUD ready for an uptrendThe market broke the ascending triangle and it got a really high target before to collapse again. It bounced on the support at about 1.60150 and it started going up during the last three days. We expect the price reaching the target number 7, entering long after a new breakout on the resistence at about 1.65589. Let us know what you think, leave a comment if you have a different or a similar opinion and don't forget to follow us for new ideas! Enjoy Traders!
Long
by GMPinvestors
USOIL in correction waveThe market is in uptrend reaching the price on the resistance at 39.38, following clearly the first five Elliot's waves. We expect a short sideway completing 3 more correction waves. Our first entry price (Short) could be when the market break the support at 35.00, taking a profit on the next support at about 31.00. Our second entry price (Long) could be if the market bounce on the previous support (about 31.00), trying to reach our TP1 and TP2. Let us know what you think, leave a comment and follow us for our next ideas! Enjoy Traders!
FX:USOIL
by GMPinvestors
CADCHF still in uptrend?The market is following a clear uptrend, it recently got a correction and the price is still pushing up. We are right now on the 5th Elliot’s wave, the perfect moment to entry short till the trendline. If the price will bounce again on the trendline we can think to entry long till TP1 , if the price will breakout the support, we will wait for the next analysis! Let us know if you like our opinion, and if you have some different idea, just leave here a comment! Enjoy Traders!
Long
by GMPinvestors
2
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