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RealEstateDayTrader

Using Average True Range question

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Howdy friends, Question:

I apologize ahead of time if this question is covered somewhere else...

So what's the point when we can say yes that is the point in which I shall calculate the ATR swing of this stock today?

For example as of this writing MSFT is at 9.72 ATR on Finviz.  

  • In the chart below the light blue is AH day the day before AND the gray area is premarket for the day. 
  • The Pre market bottom is 308 and high of day is 315.  So that's clearly in the ATR range.   A great trade would have been me getting in at 309 right?  But this is of course after we have already seen the high of day in this chart.   In pre market at 309 I don't know if it is going lower. 
  • So I can use the Cam Pivots, right? for 1 more indication (don't have CAMs in Tradingview so not in shot below) if I am at bottom and this is a good entry for a long.

Is this the best way to use ATR? 

Thanks for feedback

Michael

 

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