Using ATR Support and Resistance on Forex

Using ATR Support and Resistance on Forex

Using ATR Support and Resistance indicator on forex shows when the markets align and when they are potentially turning.

Using ATR Support and Resistance on Forex

As shown in the video on futures, the market moves in waves.  If moving up, price will make a new high, then test for support.  The support enables or pushes price to a new high.  If moving down, price will form a new low, then test for resistance.  The resistance enables or pushes price to a new low.  These formations are what moves the markets and forms the “waves” that all experienced traders refer to.

In this video, Gail Mercer, founder of TradersHelpDesk, shows how using ATR support and resistance easily identifies the retracement areas, how to identify where to enter on retracements and how to identify when the markets will potentially turn.  Then she combines the 3 timeframe charts to show you what it looks like using the three timeframes, as well as the one chart with all combined.

 The new ATR Support and Resistance indicator combines the ATR and congestion dots from our Trend ATR indicator and displays all three timeframe ATRs and CDs onto one chart.  Whenever you have the blue and white ATRs and CDs split (meaning they are split above and below price) then you are probably better off trading ATM binary options.  However, when the ATRs and CDs align in one particular direction, then wait for a retracement and then enter in the direction of the ATRs.  This makes understanding multiple timeframes much easier.
Of course, using ATR support and resistance doesn’t replace the Trend ATR or any of the other indicators.  It is simply another tool for traders to make a decision about entry or exit.

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CFTC RULE 4.41

Hypothetical or simulated performance results have certain limitations.  Unlike an actual performance record, simulated results do not represent actual trading.  Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquity.  No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

Legal Disclaimer

Futures, stocks, and spot currency trading have large potential rewards, but also large potential risk.  You must be aware of the risks and be willing to accept them in order to invest in the futures, stocks, and forex markets.  Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, stocks or forex.  No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. Past performance of indicators or methodology are not necessarily indicative of future results.

July 2019
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