Thursday, 3 September 2009

Trades 03/Sep/2009

ANF (gap down)

Bearish first is followed by move past OR low. The 4th is NR3 pullback below the OR and is our short trigger. Unfortunately didn't work out and stopped out for a loss.

Didn't have time for any other trades due to work committments, so may have missed some opportunities. Hope you had a good day.

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


Anonymous said...

Hi Trader Am

Excellent work in here.

Im a newbie - is there any document I can read about what a NR3, NR7, means... and how to interpret that and why is important NR1, NR2, etc?

TraderAm said...

NR means narrow range. A NR7 means narrowest in last 7 bars. Have a scan around the web > loads of examples.

The basic premise is that narrowing bars are showing consolidation in preparation for a big move.

Anonymous said...

Thank you Trader AM

Does it matter the bar? Or is just for identification purposes?

TraderAm said...

Sorry don't understand the question.

Anonymous said...

Hi TradeAm

I was wondering if it matters if is NR7, or NR1, or NR10?

TraderAm said...

The higher the number the more the consolidation. I tend to just look for NR3 and NR7.