"An NR4 is a trading day with the narrowest daily range of the last four days. An inside day has a higher low than the previous day's low and a lower high than the previous day's high. Combining the two conditions sets up an ID/NR4 day." - from Linda Bradford Raschke book - Street Smarts
Which direction will this NR4 Setup Breakout? Buy or Sell?
I wager a false break below - or an attempt to break below FIRST - and then breakout above the Inside Day and Target Last Week's High
There are CAD news today as well so this might fuel a strong breakout - in whichever direction.
NB: FXCM, OANDA and Forex.com Show yesterday's (Monday) Range as an Inside Day. My Broker - Pepperstone - doesn't. Something to note...
Let's see how it goes...
Which direction will this NR4 Setup Breakout? Buy or Sell?
I wager a false break below - or an attempt to break below FIRST - and then breakout above the Inside Day and Target Last Week's High
There are CAD news today as well so this might fuel a strong breakout - in whichever direction.
NB: FXCM, OANDA and Forex.com Show yesterday's (Monday) Range as an Inside Day. My Broker - Pepperstone - doesn't. Something to note...
Let's see how it goes...
Trade closed: target reached:
NR4 are good/reliable...