Trading NR7 setup

[rohangawale]

NR7 stocks triggered on 28th jan:

BHEL
M&M
RELINFRA.

Sorry friends was not able to post in specified format due to lack of time.

NR7 Stock Close on 29th Jan:

		[B]28-Jan			29-Jan			
STOCK		HIGH	LOW		Close	Day Range	Trigger[/B]
BHEL		2366.1	2327.7		2405.2	112		Up Break
M&M		1,046.701,016.75	1017.55	45		No Breakout
RELINFRA	1048.7	1029.1		1,034.20	58.00		No Breakout

 

[rohangawale]

NR7 Stocks Triggered on 29th Jan:

[B]STOCK		HIGH		LOW[/B]
BHARTI AIRTEL	313.9		304.15

 

[Akbar Amir Shaikh]

But how to use this for our profits. can u pls help

 

[AW10]

Akbar,
What time frame you trade ? What instruments (option, stock, futures) ? etc are questions will decide how to trade this setup. Please refer to first few posts where I have given a various possible ways to benefit from this system.

Beyond, you also need to put in some effort to design good system on this.

Happy Trading

 

[AW10]

We have seen few action packed days in this week and major % of market participants are on alert after 10% drop from 5300 to 4800 level.

On 5th Jan, where we had multiple NRx days in cluster, this was my interpretation about possible direction of mkt. (possible falser breakout of 2/3% and then 10% move in other direction)
(More details in this post
http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup-57.html#post399360 )

Fortunately, this time market behaved more or less the same way, it has behaved in the past and our reading of 5th Jan, had turned out to be correct.

It was no rocket science but just the repeat of market behaviour that we had seen in past whenever we had such cluster of NRx days. That was dream instant gratification setup for swing traders and ofcourse for day traders as well who stayed with the trend rather then getting biased by older trend.

After such expansion, it is likely that mkt might go for consolidation before next wave develops. The pattern that we see, is very much similar to what happened in Jan-08, Important to watch the next few days and read the underlying message.
If bullish trend is still strong, then we might see strength by wide green bars. But if we see small body, NRx type of green bars in bounce, then it is warning sign that we might be heading for right shoulder / lower high / Bearish Flag consolidation / Oscillator divergence etc. then we might be in for another 500 points fall from whatever level next bounce can take us.

So, Lets keep our receiver on and be ready to receive the signal from market.

(PS - plz don't take my interpretation as expert opinion or anything close to it.. but form your own views. Though I am bearish on bigger timeframe, but will not miss opportunities to go long on swing/day trader if it needs to be).

Happy Trading

 

[tvrssvk]

AW10,

I just came across the NR7 set-up today. I would have been lucky, if you would have informed me about this set-up earlier.

I think I can digest this......

I guess you were aware of me searching swing trading strategies......

Thanks a lot!!!!!! will follow from the start.........

 

[trading4p]

I saw it mentioned in the thread that this setup was based on Toby crabel's work. I have scanned copy of his book. If anybody want it i can upload. Let me know.

 

[Akbar Amir Shaikh]

dear friend,

It would be kind of u to share the setup based on Toby crabel's work

 

[trading4p]

I had posted the link here but it looks like the post has to be approved by the moderators

dear friend,

It would be kind of u to share the setup based on Toby crabel's work

 

[rohangawale]

NR7 Stocks Triggered on 29th Jan:

[B]STOCK		HIGH		LOW[/B]
BHARTI AIRTEL	313.9		304.15

NR7 Stock Close on 1st Feb:

		[B]29-Jan			1-Feb			
STOCK		HIGH	LOW		Close	Day Range	Trigger[/B]
BHARTI AIRTEL	313.9	304.15		311.2	8.7		No Breakout