Hi to all of you,
Please help me with something regarding the ATR values reading that I don't quite understand and I wasn't able to find the explanation in other parts of the web (Google search).
So, for 26.11.2007 my EURUSD (daily chart) ATR value is 0.0094 meaning 94 pips right?
At the same time the USDCAD (daily chart) ATR value is 0.0135 meaning 135 pips?
What is the value for the ATR for GBPJPY (daily chart) which shows 3.5164 - does this mean that it is 351.64 pips or is it another value?
Also for EURJPY the ATR daily charts value is 3.9543 - does this mean 395 pips?
Also, as another question, do you use ATR for SL levels, for medium to long term trading (daily charts) and if so, do you use a certain ATR percentage (70%, 100%) in connection with support and resistance?
Thanks in advance for your help, I hope I will get my misunderstanding fixed.
All the best I wish to you all,
Bogdan.
Please help me with something regarding the ATR values reading that I don't quite understand and I wasn't able to find the explanation in other parts of the web (Google search).
So, for 26.11.2007 my EURUSD (daily chart) ATR value is 0.0094 meaning 94 pips right?
At the same time the USDCAD (daily chart) ATR value is 0.0135 meaning 135 pips?
What is the value for the ATR for GBPJPY (daily chart) which shows 3.5164 - does this mean that it is 351.64 pips or is it another value?
Also for EURJPY the ATR daily charts value is 3.9543 - does this mean 395 pips?
Also, as another question, do you use ATR for SL levels, for medium to long term trading (daily charts) and if so, do you use a certain ATR percentage (70%, 100%) in connection with support and resistance?
Thanks in advance for your help, I hope I will get my misunderstanding fixed.
All the best I wish to you all,
Bogdan.