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Post by radar on May 8, 2014 13:28:36 GMT -5
possible NR4 trade (inside day) for July wheat for those who like to trade grains.
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Post by platy on May 8, 2014 13:31:07 GMT -5
You looking at Daily (silver) platy? funny 'cuz I SAW SAME thing and was afraid to post! LOL!! No I was looking at 1 hr bars, but now that you mention it, same exact thing on the daily. It's a fractal! |
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Post by simonsays on May 8, 2014 13:35:23 GMT -5
Uraniums sure are getting pounded. There should be some good opportunities whenever they bottom. Most of the sector has been pinned to the lower BB (daily) for a week now.
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Post by radar on May 8, 2014 13:48:11 GMT -5
nibbled on both silver and gold....... small risk.
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Post by platy on May 8, 2014 14:12:03 GMT -5
Radar what is NR4?
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Post by radar on May 8, 2014 14:38:49 GMT -5
NR4 is a trade set up. You look for an "inside" day that has the smallest range in the past four days (today included). For the next trading day (or overnight) you buy on a stop a few ticks above the previous day's high or sell on a few ticks below the previous day's lows. You use the high/low as your stop. Inside days show either consolidation then continuation of a trend OR, a possible reversal.
If it does end up reversing (i.e. trend is up, and you go long the day after the inside day, and then the price drops below previous days' low and you get stopped out of your long) some traders will jump on the reversal in trend.
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Post by radar on May 8, 2014 14:46:44 GMT -5
ok guys....gotta run. see yooz tomorrow
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Post by platy on May 8, 2014 14:46:45 GMT -5
Awesome thanks Radar!
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Post by simonsays on May 8, 2014 14:56:26 GMT -5
I think hanging on to that short trade is the right thing to do. This market wants to go down and I predict an ugly close going into the weekend.
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