Yesterday, October 28, John Paul recorded a video in which price came up to the Atlas Line and bounced off it. Long orders were produced right when price was being “supported” by the Atlas Line.
Remember to watch in HD!
John is trading the December contract using a 5-minute time frame. Take a look at how quickly price accelerated after it intersected the Atlas Line.
There are a few tools that can help your trades:
1. The Bar Timer (displayed in the bottom-right corner of the video / chart): displays a countdown until the current price bar is complete. Using the Bar Timer, you’ll know exactly when the next candle will open and when the current candle is going to close.
2. ATR (Average True Range, green line and pointer displayed at the bottom of the video / chart): lets traders know the range of price movement to expect from a trade. Traders should decide to take profit based on the ATR of the last few bars / candles.
3. The Atlas Line (of course). We’ve covered that already.
Know where to place your stop losses, profit targets, etc. based on a combination of all three.
Visit the Atlas Line page to find out more.