Using atr to set profit target

Using atr to set profit target

It may seem a bit strange to think that stop loss targets may be easier to identify than profit targets. Traders often place stop losses at support or resistance levels (depending on whether they are going long or short). If price breaks below (or above) these levels, it is commonly taken as a.

  using atr to set profit target, heres how it works now if you dont want to ride trends, you can also use the atr indicator to set a target profit. Heres how it works you know the atr indicator tells you how much a market can potentially move for the day. So if eurusd has a daily atr of 100 pips, it moves an average of 100 pips a day.

  using atr to set profit target the main advantage of placing targets with the atr is that it gives clues about reasonable price targets based on the underlying volatility. The atr indicator gives a fair approximation of the possible range of the day ahead. But, to fine-tune your exits we need more than the atr indicator.

  atr is not only useful for setting take profit targets, but also for determining truly reasonable places to put a stop-loss order. Youre in luck trading strategy guides has devised its own unique indicator that will instantly show you ideal take profit and stop loss points on any time frame you care to trade on, based on the atr indicator.

Using the atr to assess the price movement is a much better usage of the atr. Having the atr act as a profit target and stop loss mechanism is asking too much of the indicator. Lets take another look at the 5-minute apple chart when we combine both the atr and price channels.

The atr can be used to help you identify potential profit targets and also work out if a trade entry is suitable. If you find a potential trade that has a very large atr, then you know price is more likely to make a large move. If you get your trade call correct you can use this information to set a larger target.

  we also need to use the atr slightly differently as a profit target tool. If we know that price stays within the 20 day atr 80 of the time then we dont want to set our target directly at the 20.

  we will use atr value to set our take-profit and stop-loss level. 5 trade open price) 10 pips atr open price of candle that closed abovebelow, example 1. 12978, 10 pips take profit level (atr value3 trade open price) manual exit of trade - for buy entry if candle closes below yellow moving average.

  because were using 100 of the daily atr as a profit target, using 50 will be a stop with a good risk to reward ratio.

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Using atr to set profit target

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