Is the marketing going to keep going doing? Many traders are asking the same question.
One tool you can begin using is the Atlas Line from DayTradeToWin. On an intraday basis, the Atlas Line provides a projection of what price may do. And lately, it’s been very correct in estimating these big down moves. Watch the video to see for yourself.
You’ll see multiple short (sell) winners – at least five, when combining the Atlas Line and Trade Scalper software. You can get them both with the Accelerated Mentorship Program or separately through our courses and software page on the DayTradeToWin website.
Price, having crossed the Atlas Line, stayed there. Thus, our bias was for short trades. We had no reason to look for longs. What could change that? Price closing twice above the Atlas Line.
If there is a strong move and continuation down or up during the day, far beyond the Atlas Line, price will stay in the given bias. For there to be a change of direction, price is going to have to reverse and go back all that way. And sure, it could happen, but from experience, perhaps you know that such a thing may be less likely.
John Paul, the founder of DayTradeToWin, is of the belief price will continue to head lower. In a prior video, he shared key price levels. If price goes up to these levels and surpasses them, he believes that is price qualifying a prior high for a continued move up.
What does the bigger picture look like? John Paul’s analysis says the market will head lower. If price eventually retraces to the prior high in August, then all bets are off – price may then continue a climb.