Trading NR7 setup
- Thread starter AW10
- Start date
- Tags narrow range nr 7 nr4 option trade
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Moh, you have kicked-off very new project of compiling the posts.
Let me go thru the yr doc and come back with some ideas on what can be done.
I see RKK's point that what benefit it brings besides providing the thread offline.
Personally, I think that many of the posts in this thread are time-sensitive, Reply to specific Questions, my views at a particular day/time and many basic concepts..
Once I go thru the docs then probably would like to club info in these section so that the pdf takes away the pain point of reading and understanding from a thread.
Plz give me some time for this.
Appreciate your effort.
Happy Trading
Let me go thru the yr doc and come back with some ideas on what can be done.
I see RKK's point that what benefit it brings besides providing the thread offline.
Personally, I think that many of the posts in this thread are time-sensitive, Reply to specific Questions, my views at a particular day/time and many basic concepts..
Once I go thru the docs then probably would like to club info in these section so that the pdf takes away the pain point of reading and understanding from a thread.
Plz give me some time for this.
Appreciate your effort.
Happy Trading
Hitesh, for some strange reason (maybe the index calcuation system has not adjusted for 9:00 am opening), NSE is reporting NIFTY low of 5167 and open of 5201.
That is why SPOT is not flagging today as NRx.. But if I look at the price band of the day then majority of the time, the price was in 5210 to 5240 i.e. 30 points range.
I would consider this as NR and hence we have seen 4 to 5 narrow range days in a row so get ready for expansion.
This is the time when futures data gives lot more realistic picture.
Happy Trading
That is why SPOT is not flagging today as NRx.. But if I look at the price band of the day then majority of the time, the price was in 5210 to 5240 i.e. 30 points range.
I would consider this as NR and hence we have seen 4 to 5 narrow range days in a row so get ready for expansion.
This is the time when futures data gives lot more realistic picture.
Happy Trading
Yes Moh, you are right. We had monthly range of 278 points in Dec.. compared to average monthly range of 500+ points. i.e. almost 50% of average.
Message is clear, extreme contraction that leads to expansion.
We had Feb-09 with 292 point range but that time Nifty was at 3000.. i.e. 10% of nifty was range whereas we have seen 5.5% as the range in Dec. After Feb, we had seen the breakout in Mar and the break is still on. Can't say that same will happen on the break of Dec Range.. but certainly, it could lead to big enough move with ample opportunity to make money.
So, keep this perspective in mind and trade what u see. Any view that we get from Long Term chart (like monthly chart) should not impact our trading bias. We shd continue to trade what we see on chart of our trading timeframe.. and as we start seeing the support from longer TF (i.e. break of monthly range, building up strength in the direction of breakout, few wide range bars in that direction etc), then we can start getting aggressive. Daily and weekly timeframe will be giving breakouts before monthly range breaks out so get use them for early entry and keep building position.
Hope this helps.
Happy Trading
Message is clear, extreme contraction that leads to expansion.
We had Feb-09 with 292 point range but that time Nifty was at 3000.. i.e. 10% of nifty was range whereas we have seen 5.5% as the range in Dec. After Feb, we had seen the breakout in Mar and the break is still on. Can't say that same will happen on the break of Dec Range.. but certainly, it could lead to big enough move with ample opportunity to make money.
So, keep this perspective in mind and trade what u see. Any view that we get from Long Term chart (like monthly chart) should not impact our trading bias. We shd continue to trade what we see on chart of our trading timeframe.. and as we start seeing the support from longer TF (i.e. break of monthly range, building up strength in the direction of breakout, few wide range bars in that direction etc), then we can start getting aggressive. Daily and weekly timeframe will be giving breakouts before monthly range breaks out so get use them for early entry and keep building position.
Hope this helps.
Happy Trading
hi aw10
1.. Nifty on 4-1-10 Only the 1st minute low is 5173.20
From then on minimum Low is 5204.45 ...!
2.. Thanks for longterm nr7 outlook, it adds to knowledge.
Your explanations are down to earth.
3.. The nr7, ws7 setups will be easypic for knowledged, but then for the freshers, your thread & your explanation is the type typical selfhelp kind, [not a spoonfeed, but a DoIt yourself type].
You have orchestrated it so very well in fluency, and the participants have added so much practical spice to it. A single documentation with amble examples, illustrations give a firm base. Examples of past will be like a case study. Search is easier on offline single document.
Though people like Bulkowski have done lots, you have related to Our Indian Market concept & realities. Volatility range, impact or occurrance of narrow, wide spans, market stability, impact of private activities, FII actions, etc etc may be so different here. In that context your presentation becomes vital.
I as a new entrant saw the enormousness when i started the thread from beginning and was able to see how it evolved, and how it will be very helpful for people seeking this concept.
Hats off to you.
[I perused some portions of your OPtions presentation, your way is great, and for lack of my knowledge I did not go deep into it yet].
aw10, under your flag you can take the concepts a long way, and add your other presentations like Derivatives, options, strategies, etc.
Many know lots of concepts. Few wills to impart it to others, and very few impart it in an understandable conceptual way. Kudos to you.
The minute i put it in the thread it is public domain, and i have requested Rk and StkMurtaza to make it a presentable and put in the thread.
I have seen Rk's frank inputs in various fora, his editing will be very valuable.
He has an overall vision.
I have seen StkMurtaza's enthusiasm in many threads, he even offers to put it for unlimited downloads. He is very dynamic and openminded.
Rohan's data is like compilation of historic case study when we look back at yesterdays data, & a practical walkthro for the present when we have todays data, & an anticipation to build strategy for tomorrow when we see tomorrows data.
And, there will be so many silent participants who can impart spice.
Hi Rohan, if you dont mind, can you give a followup on which one made gain, etc, a small stat of the day. !
1.. Nifty on 4-1-10 Only the 1st minute low is 5173.20
From then on minimum Low is 5204.45 ...!
2.. Thanks for longterm nr7 outlook, it adds to knowledge.
Your explanations are down to earth.
3.. The nr7, ws7 setups will be easypic for knowledged, but then for the freshers, your thread & your explanation is the type typical selfhelp kind, [not a spoonfeed, but a DoIt yourself type].
You have orchestrated it so very well in fluency, and the participants have added so much practical spice to it. A single documentation with amble examples, illustrations give a firm base. Examples of past will be like a case study. Search is easier on offline single document.
Though people like Bulkowski have done lots, you have related to Our Indian Market concept & realities. Volatility range, impact or occurrance of narrow, wide spans, market stability, impact of private activities, FII actions, etc etc may be so different here. In that context your presentation becomes vital.
I as a new entrant saw the enormousness when i started the thread from beginning and was able to see how it evolved, and how it will be very helpful for people seeking this concept.
Hats off to you.
[I perused some portions of your OPtions presentation, your way is great, and for lack of my knowledge I did not go deep into it yet].
aw10, under your flag you can take the concepts a long way, and add your other presentations like Derivatives, options, strategies, etc.
Many know lots of concepts. Few wills to impart it to others, and very few impart it in an understandable conceptual way. Kudos to you.
The minute i put it in the thread it is public domain, and i have requested Rk and StkMurtaza to make it a presentable and put in the thread.
I have seen Rk's frank inputs in various fora, his editing will be very valuable.
He has an overall vision.
I have seen StkMurtaza's enthusiasm in many threads, he even offers to put it for unlimited downloads. He is very dynamic and openminded.
Rohan's data is like compilation of historic case study when we look back at yesterdays data, & a practical walkthro for the present when we have todays data, & an anticipation to build strategy for tomorrow when we see tomorrows data.
And, there will be so many silent participants who can impart spice.
Hi Rohan, if you dont mind, can you give a followup on which one made gain, etc, a small stat of the day. !
Hi Rohan, if you dont mind, can you give a followup on which one made gain, etc, a small stat of the day. !
today was a silent day on nifty, and i didnt saw much valid breakout. everything seems to be resistance to me at time of trading, so i didnt take the trade.
but surely will submit my own trades as per nr7 system which im posting. before also i have traded and got very good resuslts based on it.
just now i checked NR7 stocks which triggered today, stks like axis,bhel,tcs are sitting on resistance.
lets c wat mkt shows us tomo and accordingly i will be trading and will enter my trades here too for ur ref.
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