Here are the results of the Atlas Line software, trade by trade, and what you could have seen on your charts.
You can configure the Atlas Line to work with the U.S. Day session, London session, and Asian session. Yes, the indicator can be applied to many chart types and time frames. The rules pretty much stay the same. The main thing to watch out for is the ATR (Average True Range) because its value differs based on the instrument’s (market’s) tick value.
The general idea is to take long trades when price is above the Atlas Line and go with short trades when price is below. You can typically expect a signal within the first half-hour after market open. The long signal that you see was a winner. Price climbed over eight points. That Atlas Line trade was worth four or five points because the ATR is used to determine the profit target. There was another large winner soon after based on Pullback signals.
[embedyt] https://www.youtube.com/watch?v=aZCFS2L1CGw[/embedyt]>> Get the Atlas Line software running on your charts <<
What about trades that don’t work out? That’s what happened with the third signal. You can see how there was a short signal but price didn’t go any lower.
Even with the stop loss being hit, based on the prior two trades, you were still up for the day.
Clearly, the fourth signal was a winner with a four-point profit target. From there forward, there were many Strength and Pullback signals for the bearish trend. You could have been done trading with the fourth trade, so these additional signals may not have been necessary. John Paul continues counting over 10 winning signals.
