Here is another review of trading using the ATR Zone indicator during the week from December 16 to 20, 2024.
The trade on GDPCHF was opened after the increase in price above the average level calculated by the indicator for the last five days.
On this currency pair it was repeated more or less the same as it was on the first pair. The price bounced from the average level of price movement and confidently went to the next Fibonacci level calculated by the indicator where it was closed at TakeProfit.
On Ethereum, the exit from the zone delineated by the indicator level did not develop immediately but StopLoss was placed below the previous low and was not broken. Further the trade was well developed and closed the next day at TakeProfit which was set at the level of the indicator.
On AUDUSD instrument, the bounce from the level was confident and the price went to the next level of the indicator.
During trading on the NASDAQ index, there was an almost perfect bounce from the indicator level with the trade closing the next day at TakeProfit.
Here we see that the price bounced from the Fibonacci level and closed at the next similar level but of the opposite direction.
On the CHFJPY pair we see a false breakout of the level on the rise in price and a bounce at its retest. The trade was opened and closed at the level below TakeProfit.
Here there was a perfect bounce from the level but the trade was closed too early for various reasons, although it had an impressive potential.
Conclusion:
The trading that was carried out last week with the help of the ATR Zone indicator was effective and profitable. The indicator was used to determine entry points based on the bounce from the levels, or trades were opened at the exit points from the zones delineated by the levels. The indicator was also used to determine the levels of profit fixing.
See other trading reviews with the ATR Zone indicator
I’m Sergei Ermolov, follow me and don’t miss more useful tools for profitable trading on the Forex market.