It’s always good to check for news events before placing a trade. We have a free news indicator for NinjaTrader 7 and NinjaTrader 8 that shows upcoming news events on your chart. You can also use the Bloomberg Economic Calendar to check for red star events. If an event is about to occur, then you probably want to hold off until the volatility subsides.
The Atlas Line produced a long (buy) entry signal at 2289.75. According to the ATR (Average True Range), current market conditions allow for a profit target of seven ticks. If the target is not hit, John Paul exits the market within a certain amount of time. On a 5-min chart, this time-based stop is four candles or 20 minutes. The prove-it stop gets you out when price closes on the opposite side of the line. The catastrophic is always present – it’s about double the ATR as a safety net and to allow for normal market fluctuations. What happens if a trade does not go your way? A Strength Trade, Pullback, Bounce, or even another Double Bar entry can provide additional opportunities. This is all just the Atlas Line. Other strategies we teach help you filter Atlas Line trades and add to the amount of possibilities that appear when you look at a chart.
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