Nice short on Nasdaq futures off the 45-minute ATR. This pattern is easy to see when combining the power of candlestick reversal patterns with the ATR Support and Resistance indicator.
Nice Short on Nasdaq Futures
The Nasdaq futures provided a nice entry for a short position off the 45-minute ATR at 6783 and continued down to the congestion dot (so far) on the 12 minute chart at 6755. If the trader missed the first entry signal then the 3 minute chart also provided a secondary entry after the ADX formed a magenta peak and price retraced back to the ATR on the 3 minute chart with hidden divergence appearing as it tested for resistance.
In this video, Gail Mercer, founder of TradersHelpDesk, shows the short on Nasdaq at ATR on the 45 minute chart with a three bar reversal candlestick pattern. Gail also shows the 3 minute chart hidden divergence formed at the ATR providing an additional entry into the retracement.