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.
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6 comments:
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?
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.
Thank you Trader AM
Does it matter the bar? Or is just for identification purposes?
Sorry don't understand the question.
Hi TradeAm
I was wondering if it matters if is NR7, or NR1, or NR10?
The higher the number the more the consolidation. I tend to just look for NR3 and NR7.
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