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AUDCHF 4HR TIMEFRAME Market Structure: BULLISH I am looking for buy setups on the 4hr for AUDCHF. Ascending Channel pattern is happening on the 4HR chart. Since market structure is bullish I'm looking for Buy setups. This looks like it may take a while until structure fully breaks towards the upside. However, if it breaks towards the downside of the Ascending Channel, I'm looking for a rejection, and a sell candle closing under the pink line. TPS Are labeled on the blue lines. Always place SL under where price broke structure. REMINDER: Always take profit/partial profit at TP1. Price majority of the time rejects after TP1, goes toward entry, then back to smashing the TPS.
by JOAxAgyeman
ATR Indicator - How to Avoid Getting Stopped out of TradesIn this post we can see how the stops were taken out beyond. the 26600 price level. For any setup that a noobie trader may place, the SL would be taken out at this level; However using the ATR indicator we can avoid getting stopped out and keep our trade. I recommend you watch some videos on this indicator to get a better understanding but the main jist of it is -> Take a sweep low/high of a range and add/minus the ATR value (on the sweep candle) to get more legroom for price to move (but it will miss your stop) I hope you find this useful.
Education
by faken
1
AVERAGE TRUE RANGE WAY OF MEASURING VOLA I've been backtesting a strategy that requires a stop that is not tied to the key levels, or anything subjective, but something that also took the changing mkt conditions into the account so I was using ATR and it was pretty helpful. Good for algo and half-algo strategies in particular. For example, one could set SL at 1 average ATR and take at 1.5 average ATR. Helps to quickly backtest something manually. Also, can be helpful in the usual trading as well. And I like the picture that was the result of the drawings as it helps understand how the market changes and how the same pair trades differently from what it's been like a year ago. You can use this data to adjust your targets/sl in your trading. TLDR: good volatility change tool, good for setting stops for algo backtesting.
Short
by ProSignalsFx
3