NY: USDJPY - HARMONIC - BUY LIMIT/ ATR SLLimit buy activated on UJ gartley pattern, lets see if it plays out amongst all the news today
ATR
Top 10 Technical Indicators for Successful TradingTop 10 technical indicators for successful trading
Introduction:
Technical indicators are essential tools for traders to analyze market trends, identify potential trading opportunities, and manage risk. These indicators are mathematical calculations based on past price and volume data that can help traders make informed decisions about buying or selling assets. In this article, we'll discuss the top technical indicators that traders can use to enhance their trading strategies.
Moving Average:
A moving average is a widely used technical indicator that helps traders identify market trends. A moving average is calculated by averaging the price of an asset over a specific period, such as 10 days or 50 days. This indicator smooths out the price data and makes it easier for traders to identify the direction of the trend. When the price is above the moving average, it's considered a bullish trend, and when the price is below the moving average, it's considered a bearish trend.
Relative Strength Index (RSI):
The Relative Strength Index (RSI) is a momentum oscillator that measures the strength of a price trend. The RSI is calculated by comparing the average gains and losses over a specific period, typically 14 days. The RSI value ranges from 0 to 100, with values above 70 indicating an overbought market, and values below 30 indicating an oversold market. Traders can use the RSI to identify potential trend reversals and overbought or oversold conditions in the market.
Bollinger Bands:
Bollinger Bands are another widely used technical indicator that helps traders identify potential trend reversals and price volatility. Bollinger Bands consist of three lines: a moving average in the center, and two outer bands that represent the standard deviation of the price data. When the price is within the bands, it's considered normal market volatility. However, when the price reaches the outer bands, it's considered an overbought or oversold condition, and a potential reversal may be imminent.
MACD (Moving Average Convergence Divergence):
The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that helps traders identify changes in momentum and trend reversals. The MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. A signal line, which is a 9-day EMA of the MACD, is also plotted on the chart. Traders can use the MACD to identify potential buy and sell signals, as well as divergences between the MACD and the price of the asset.
Fibonacci Retracements:
Fibonacci Retracements are a popular technical indicator that helps traders identify potential support and resistance levels. Fibonacci Retracements are based on the idea that prices tend to retrace a predictable portion of a move, after which they may continue in the original direction. Traders can use Fibonacci retracements to identify potential entry and exit points, as well as stop-loss levels.
Stochastic Oscillator:
The Stochastic Oscillator is another momentum oscillator that helps traders identify overbought and oversold conditions in the market. The Stochastic Oscillator is calculated by comparing the closing price of an asset to its price range over a specific period. The Stochastic Oscillator value ranges from 0 to 100, with values above 80 indicating an overbought market, and values below 20 indicating an oversold market. Traders can use the Stochastic Oscillator to identify potential trend reversals and overbought or oversold conditions in the market.
Average True Range (ATR):
Average True Range (ATR) is a technical indicator that measures the volatility of a stock or currency. Developed by J. Welles Wilder Jr., ATR calculates the average range of price movements over a specific period, taking into account gaps in price movements. ATR is typically calculated over a period of 14 days, but traders can adjust this period to fit their specific trading strategy.
To calculate ATR, traders first calculate the true range (TR), which is the greatest of the following:
Current high minus the current low
Absolute value of the current high minus the previous close
Absolute value of the current low minus the previous close
Once the true range is calculated, traders can calculate the ATR by taking an average of the true range over a specific period.
ATR can be used to measure volatility in the market, helping traders to identify potential trading opportunities. When ATR is high, it indicates that there is a lot of volatility in the market, which can present opportunities for traders to profit. Conversely, when ATR is low, it indicates that the market is relatively stable, and traders may want to avoid entering trades at that time.
Ichimoku Cloud:
The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a technical indicator that provides a comprehensive view of potential support and resistance levels, trend direction, and momentum. The indicator was developed by Japanese journalist Goichi Hosoda in the late 1930s and has gained popularity among traders in recent years.
The Ichimoku Cloud consists of five lines, each providing a different view of the market:
Tenkan-Sen: This line represents the average of the highest high and the lowest low over the past nine periods.
Kijun-Sen: This line represents the average of the highest high and the lowest low over the past 26 periods.
Chikou Span: This line represents the current closing price shifted back 26 periods.
Senkou Span A: This line represents the average of the Tenkan-Sen and Kijun-Sen, shifted forward 26 periods.
Senkou Span B: This line represents the average of the highest high and the lowest low over the past 52 periods, shifted forward 26 periods.
The area between Senkou Span A and Senkou Span B is referred to as the "cloud" and is used to identify potential support and resistance levels. When the price is above the cloud, it indicates a bullish trend, and when the price is below the cloud, it indicates a bearish trend.
Traders can also use the Tenkan-Sen and Kijun-Sen lines to identify potential entry and exit points, with a bullish crossover of the Tenkan-Sen above the Kijun-Sen indicating a potential buying opportunity, and a bearish crossover of the Tenkan-Sen below the Kijun-Sen indicating a potential selling opportunity.
Conclusion:
In conclusion, technical indicators are valuable tools for traders in the financial markets. The Average True Range (ATR) can be used to measure volatility in the market, while the Ichimoku Cloud provides a comprehensive view of potential support and resistance levels, trend direction, and momentum. By using these indicators in combination with other technical analysis tools and market knowledge, traders can make informed trading decisions and improve their chances of success. It's important for traders to experiment with different indicators and find the ones that work best for their trading strategy.
NY: EURUSD - BULLISH HARMONIC - LIMIT - ATR SLEU has dropped significantly with DXY rally and while everyone is in fear, we may want to join the algorithms in trading this bullish cypher using our limit buy order that recently got hit and our ATR proprietary SL. Lets see if it materializes
LONDON: AUDUSD 618 LIMIT - ATR SL618 Playbook setup presented during this London session using our ATR as stop loss. Lets see if we can catch a bounce off dollar weakness.
ADX/DMI + ATR Trading Rules This trading setup & trading rules has over an 80% win rate! 400+% in one month on 1H chart! Set TP at 2 times the ATR for entry candle. Set SL at Highest High or lowest low + 0.5 ATR for a cushion.
LONDON: USD/JPY 618 LIMIT - ATR SLLondon started with fireworks and despite the quick movement we entered a quick limit order at the 618 fib retracement of UJ using our ATR SL placement. It got hit and is moving quick! lets see if it continues
NY: GBPUSD 618 BUY LIMIT - ATR SLLooking for GU to continue uptrend with a buy limit activated at 618 fib retracement. Lets see if GBP can pick up some strength for NY
NY: NZDUSD 618 BUY LIMIT - ATRSimilar to GU idea, NU has also retraced back to a nice lever for buyers to come in both on smaller and higher timeframes. Lets see if dollar can show some weakness for both ideas to play out accordingly
Bullish Swing On EURCHFEIGHTCAP:EURCHF
We have a nice reversal setting-up on EURCHF so I'm watching for price to possibly pierce a previous swing low, which is at ATR and the bottom of the wedge, and ideally close as an SFP.
My target will be today's ATR hight to close the position before the weekend.
Enjoy,
The Meditrader
NY: GBP/JPY HARMONIC LIMIT - ATRGJ has played into our harmonic gartley buy limit perfectly. SL used is our system's ATR. Lets go for at least 1:2
NY: GBP/USD ABCD/FIBEXT - ATROur second setup of NY also points to GBP rise but against the USD. Price has reached critical ABCD and Fib Ext level. Using our proprietary ATR for SL. Lets see how NY treats us
NY: EUR/USD HARMONIC LIMIT - ATR SLWhile we are going against what it seems like the market is doing, our setups could give the opportunity to entre at a great price while majority of traders are in fear of getting stopped out or faked out. But we cannot predict, only execute. Let’s see what happens
NY: EUR/JPY HARMONIC - LIMIT ATRWith the reversal of several majors against the dollar, lets see if EJ harmonic setup has enough gas to get us to 2R
ASIA: GBPJPY 618 LIMIT W ATR SLPrice in a clear uptrend with GBP showing overall market strength. Price is moving quickly and I had to hurry and set a 618 limit buy order that got hit before I knew what was going on! Lets see what happens. Looking for at least 2R to start the week
LONDON: EURUSD GARTLEY HARMONIC LIMIT - ATR SLPrice has qualified for our last setup of the day using a gartley harmonic entry with SL set using our proprietary ATR value. Lets see how this plays out
LONDON: GBPUSD ABCD/EXT LIMIT ATRPrice has pumped to a very strong key level and neckline of higher timeframe double top. Now we may see the dump play out and have entered using our ABCD/EXT setup which calls for a SL using our ATR on our trading timeframe. Big potential for downside if price does fall
NY UJ 618 LIMIT ATRLet’s see if this relative 618 level holds as it is also backed by structure it is usually one of my most consistent setups. If it doesn’t and price continues uptrend the next best place to enter would be the bigger 618 from the very bottom of the consolidation
ASIA UJ BO ON MOMENTUM ATRBreak out setup conditions met with ATR being used as our SL for a 1:2 trade
ASIA NJ 618 LIMIT ATRNJ and AJ seem to be the last pairs to want to join JPYs downfall, this could either mean we can expect a pullback on all JPY pairs or that its simply late to the party and still gathering volume for a bigger push up.. not sure, but decided to test this hypothesis by entering a limit buy order at the 618 which was just hit. SL used was our ATR formula for a minimum target of 1:2
LONDON NJ ABCD/EXT LIMIT ATRNow that the market has grabbed the money sitting below support, lets see if they play the dump and pump using a 272 fib ext and triple ABCD to join the bulls
LONDON AJ BUTTERFLY/EXT LIMIT ON ATRIdea did not post, in line with JPY weakness, short term money has been grabbed and butterfly harmonic has been painted. Let's see if market follows through on what could be a big RR trade
ASIA: BAT HARMONIC - ATR SLMoney is trapped on either side of the range, we identify a pattern in which the probability of covering risk at 2R is likely and could be quick so it'll be tested out. The potential upside is also nice but regardless if price violates either zone, strategy should be to try to catch a retest for a trend move
