Thursday, 25 June 2009

Trades 25/June/2009

NKE (gap down)

Bearish first then move up to ema resistance. The 3rd is NR3 off whole number and market was looking oversold. This was our short trigger. Closed partial at 1R as it got to OR low then rest was stopped at breakeven.

RL (rise thru prev day high)

Strong first and OR break on second. Then we have sideways consolidation at OR high. The 6th is inverted hammer NR7 off OR low. This was our long trigger as market looked ready for bounce in it's uptrend. Mismanaged this trade as I closed partial at 1R rather than the 2R. The rest came back to stop at breakeven.

SNY (gap down)

Initial strength peters out at the ema as it starts falling again. The 7th breaks the OR. Then we have the pullback to the OR low on next two candles. The 9th is NR7 off ema and OR low and is our short trigger. Closed partial at 2R as fib ext was near. The rest was closed near end of day at just past 3R.

DOW (3min divergence)

Bullish divergence as MACD forms a lower low and price forms a higher low finding support at 60ema. Good for 40 points and 80 points on a 20 point stop loss. Also illustrates some confirmation factors of the SNY, NXY trades (DOW is nearing oversold) and RL trade (DOW bullish divergence).

No other trades for me today. Hope you had a good day.

-----Daily Stats ----------------------------


Tyler said...


Nice trades today and a good comeback! I like your SNY trade. That is one I will have to study. I would normally quit looking at that as it shows initial strength, but once it breaks the ORL it was sweet.


Anonymous said...

Hi - great site you have here...

Just for me to understand the lingo what is NR3 or NR7


TraderAm said...

Thanks Tyler. Good trade by you today as well.

Anon > NR is "narrow range" bar. So NR3 is narrowest of the last three bars. NR7 is narrowest of last seven bars.