Tuesday, 15 December 2009

Trades 15/Dec/2009

IBN (gap down)

Gap down is followed by fall thru OR low then retrace to test the OR as resistance. The 6th candle is NR3 off OR low and closing weak. This is our short trigger. Turned out to be a slow grind as it went sideways for most of the day. Eventually got to 1R then closed rest at end of day near whole number.

No other trades for me today. There were a couple of potential setups but Fib Ext was too close so I declined them. Hope you had a good one.

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OONR7 said...

I think the best part of your trading isn't the winners you find, it's the losers you seem to avoid entering. Nice trading lately.

TraderAm said...

Thanks 00nr7.

Good to hear from you.