How to predict where the market will stop can be a simple process.

A new workspace to be released with the MicroTrends NinjaTrader Framework version 7.0.0.23 will let you do exactly that at a glance.

Yearly, monthly, weekly and daily Horizontal levels of support and resistance combined with Dynamic Fibonacci and the Average True Range provide a simple mechanism for see at a glance where the reversal points are historically and so therefore are good entry points for the present and future.

Look left to  find the line in the sand - probability is high at these watermarks.

It’s just a case of becoming tuned with what you are looking at – combining levels with other technical analysis elements allows your trade setup and entry decision to correlate with many other market participants – the more correlation the higher the probability.

Chart time, skill and learning is required for you understand and utilise  a system that allows you trade the levels without stepping in front of a high speed train…

It maybe that going with the direction of the break is better than trading for a bounce… that is made easier by combining the MT ATR HTF indicator.

For example today we are at a 9 month high, it is 10:30AM GMT – the 10 average daily ATR is  around 150 – we are at 160 – so a bounce at the 9month high is a good trade.

Do not get excited and repeatedly try to trade this – it may well gather steam and test  the 12 month high at the US open… it may however sell off – look at the weekly ATR – it is 100% -could be that

this is a great 150pips short going into Friday- however time will tell so limit your trading to 2 or 3 attempts only.  A positive risk reward of around 1 to 10 will see you ok.

Release due this week…