Using the ATR strategy, trading Dow and Gold, produced nice profits today on the forty-five minute chart.
ATR Strategy Trading Gold for Overnight Trades
As Gail has mentioned numerous times in the trading room this week, Gold would at least go to the 1150.50 area. Why? Because there was no resistance until Gold reached that level on the higher timeframes. Using the forty-five minute chart, the ATR Strategy gave two really awesome signals for long positions.
The first one occurred on 2/3/15 at about 8am. Entry was at 1128.7 and the exit was at 1138.3 for 9.6 points or 96 ticks per contract. Then a second entry came right before the market closed at 3:45 pm. Additional entries came in at the opening of the Asian session for just about the same entry points. Using the yellow trailing stop, that trade has made over 15 points today. At $10 a tick, those were really nice trades that were supported on the higher timeframes, as well.
Then this after a trade came in on the Dow Jones. Again, using the ATR Strategy trading the Dow Jones entry was at 16323 on the forty-five minute chart. After entry price immediately goes in the direction of the trade. However, at the end of the second bar volume divergence appears indicating that the next bar will be up and potentially take the profits made so an exit was executed.
ATR Strategy Trading Dow and Gold Video
The video below shows the ATR strategy trading Dow and Gold for entering futures when price approaches the ATR that is incorporated in the Trend ATR indicator for TradeStation, NinjaTrader and Multicharts.
Regardless of whether you are an intraday trader or an overnight trader, TradersHelpDesk offers the best trading indicators for identifying low risk, high reward trades utilizing the ATR, ADX, and order flow analysis using the Directional Volume indicator.