Get started

ATR

📊 Forex Currency Technical Analysis - XAUUSD 📈📉Currency Pair: XAUUSD ( GOLD ) Time Frame: 1 DAILY TF Analysis Summary: 📝 As per the 1-day timeframe (1D) for Gold spot, it indicates an uptrend. The Relative Strength Index (RSI) stands at 62.63, supporting the notion of an uptrend. The day's trading range for XAU/USD is between 1964.41 and 1981.64. The moving average suggests a strong buy signal. However, it's worth noting that some technical indicators are in contrast to the moving average, indicating a potential strong sell signal. Key Technical Indicators: 📈📉 Moving Averages: MA5 : 1969 (S) | 1963 (E) MA10 : 1936 (S) | 1938 (E) MA20 : 1889 (S) | 1919 (E) MA50 : 1922 (S) | 1912 (E) MA100 : 1922 (S) | 1918 (E) Relative Strength Index (RSI): RSI value is 68.223 and it is in BUY zone Support and Resistance Levels: 1964.96 & 1978.40 Chart Patterns: THREE INSIDE DOWN : Bearish Reversal ( Indication ), High ( Reliabilty),This pattern is a more reliable addition to the standard Harami pattern. A bearish Harami pattern occurs in the first two candles. The third candle is a black one with a lower close than the second. The third candlestick is confirmation of the bearish trend reversal (Description). THREE INSIDE UP : Bearish reversal ( Indication ), MEDIUM ( Reliabilty ), During an uptrend, the market builds strength on a long white candlestick and gaps up on the second candlestick. However, the second candlestick trades within a small range and closes at or near its open. This scenario generally shows erosion of confidence in the current trend. Confirmation of a trend reversal would be a lower open on the next candle ( Description ). Price Analysis: 📈📉 The current market price of XAU/USD is $1,975, and it is indicating an uptrend. This upward movement is supported by technical indicators such as the RSI, moving averages (MA), and ATR (Average True Range), all of which are showing positive trends. Trade Recommendations: 📊📈 Consider taking a long position if the price breaks above the resistance level of 1978, with confirmation from the RSI. Educational Purpose This information is for educational purposes only, and you should conduct your research and consider seeking advice from financial professionals when making real investment decisions.
OANDA:XAUUSDLong
by tradewith_ritik
Importance of Stoploss in TradingStop-loss is a risk management tool used by traders to limit their potential losses. It is an order placed with a broker to automatically sell or buy a security if it reaches a certain price level, known as the stop-loss level. Here are some general guidelines on where to place stop-loss orders 👇 ⚡ Support and Resistance Levels A common approach is to place stop-loss orders at key levels of support or resistance. For example, if you are long in a stock, you may place your stop-loss order just below a support level. If the price falls below this level, it is an indication that the trend has changed and it's time to exit the trade. ⚡ Volatility Another approach is to place stop-loss orders based on the volatility of the security. If a stock has high volatility, you may want to place your stop-loss order further away from the entry price to give it more room to move. Conversely, if a stock has low volatility, you may place your stop-loss order closer to the entry price. But you still need to give the stock enough room to breath in case of the latter. ⚡ Technical Indicators Some traders use technical indicators to place stop-loss orders. For example, you may use the average true range (ATR) to set your stop-loss order. The ATR measures the average range of price movements, and you can set your stop-loss order at a multiple of the ATR. Ultimately, where you place your stop-loss order will depend on your trading strategy, risk tolerance, and the specific security you are trading. It's important to have a clear plan for where to place your stop-loss order before entering a trade, as it can help you manage risk and avoid potentially large losses. What are your thoughts on using stoploss and which method do you use? Do write in the comment section. Trade safe and stay healthy.
NSE:NIFTYEducation
by Bravetotrade
6
Intraday trading with ATR points (ATR Trailing Stops)Share Market options are very logical. But most of the time we don't realise this. ATR Trailing stop indicators are useful in trading options. ATR trailing stops are different from all other indicators and can be used to easily understand day trade (intraday trade). If you use Zerodha or upstox, Select Nifty 50 Chart -> select Studies -> search ATR Trailing Stops & select Change Plot Type -> Squarewave -> givenPeriod-21 & Multiplier 3 -> Click Done. How to calculate ATR points? After 3.30p.m. or after share market is closed, Calculation can be done using today's closing price and ATR closing price (Today’s closing price - ATR points). It will help us to trade on the next day. Take ATR points 1min, 5min, 10min, 15min, 30 min & 1hr. Most of the time Nifty will reach till 1hr. Sometimes it will reach 2hrs also. So we have to calculate till 2hrs. If we calculate, we will know the range nifty will go through & what point it will reach next. (i.e.) If 10 min value is reached & it crosses that value, the points will reach 80% of the next point. So we can buy when we get signal for buying and with ATR, we can find a convenient point for selling by realising if it will reach this point or not. In my trading page, I have selected candle Heiken Ashi, ATR Trailing Stops Indicators. In the chart page, you can see the above mentioned ATR on 7/1/2022. In the chart, ATR value is 17690 and the closing price is 17816. But in 30 min chart, the closing price is 17820. So we have to calculate for both closing price of the day and 30 min closing price. I will show you how to calculate ATR value and it will work for the next day. 30min -> 17816-17690 = 126 17816 + 126 = 17942, (if close price higher than ATR , add closing price) 17690 -126 = 17564( if ATR smaller than closing price, subtract ATR price) 15 min-> 17884-17820 = 64 17884 + 64 =17948 17820 - 64 = 17756 ATR calculation are perfect for day traders. It is useful for the entire day.
NSE:NIFTY1!
by money3114
Gujarat Gas Ltd - Falling Wedge - LongAnalysis on Daily TF and Trade for Positional Trade: Daily TF: Dynamic support and resistance (EMA50 & EMA79): Will Act as Resistance Chart Pattern: Falling Wedge MACD: Bullish Stoch RSI: Nearing Overbought Range CPR: Bearish Bias and Script breaks the CPR below Build Up: Support at 622.50-609 Range ATR: Flat Higher TF (Weekly) Dynamic support and resistance (EMA50 & EMA79): Will Act as Support Chart Pattern: Falling Wedge & Flag MACD: Bearish Stoch RSI: Oversold Range Build Up: Yes ATR: High Lower TF (2Hrs) Dynamic support and resistance (EMA50 & EMA79): Will Act as Resistance Chart Pattern: Ascending Triangle MACD: Bullish Stoch RSI: Overbought Range CPR: Breakout Above - Bullish Bias Build Up: Yes at Support ATR: Flat Based on our analysis: Entry - Wait for the Breakout of the pattern in Daily TF or Entry post breakout of structure in 2HR TF. SL - 607.50-1ATR Daily TF Chart: Weekly TF Chart: 2Hr TF Chart: Disclaimer: Kindly do your own analysis before executing the trade and contact your financial advisor.
NSE:GUJGASLTDLong
by Caapinves