Trading NR7 setup

[rkkarnani]

Just noticed that from 8th Feb 2010 to week ended 12th March 2010, a period of 5 weeks. Out of these 5 weeks , 4 weeks were NR4 weeks!! We need to address such situation too!

Dont know have not checked, would it be better to trade hourly after a NR7 day?

 

[Satyen]

Satya, would it be correct to say that we are looking for a NR4 week and as we are expecting Range expansion there after we Trade the hourly chart on the premise that the market is trending and not in a congestion zone!! The role of NR4 ends there. There is nothing to do with the levels of NR4 bar!!???
When you say we trade both Long and Short as the trade comes in Hourly, we are looking at hourly alone and not at higher TF like weekly etc.

Yes Role of NR4 ends once we got the messege

 

[Satyen]

[quote="rkkarnani, post: 422169"]Just noticed that from 8th Feb 2010 to week ended 12th March 2010, a period of 5 weeks. Out of these 5 weeks , 4 weeks were NR4 weeks!! We need to address such situation too!

if we in the trade with anticipation of range expansion then we may get it soon

Dont know have not checked, would it be better to trade hourly after a NR7 day??

Yes we can derive a plan to trade after NR7 day

 

[Satyen]

 

[rkkarnani]

Chart looks really interesting. Just a thought, if we get a NR4 week in the beginning of a month, let us trade it till Derivative close and wait for a fresh signal there after. Frankly need to look at longer historical data to suggest when to'stop' trading!! RT data at present is only from Last year , older data got corrupted. Shall write more on it as soon as am able to get the data in my Metastock!!!

 

[Satyen]

Chart looks really interesting. Just a thought, if we get a NR4 week in the beginning of a month, let us trade it till Derivative close and wait for a fresh signal there after. Frankly need to look at longer historical data to suggest when to'stop' trading!! RT data at present is only from Last year , older data got corrupted. Shall write more on it as soon as am able to get the data in my Metastock!!!

Yes Waiting your valuable inputs ..................

 

[simple_trader]

I guess ACC has NR7 pattern and insider day candle. Price behavior in current market is first breaks low and then takes out high. Normally trading opportunities is more in higher side.

happy trading!


regards

 

[trader.trends]

A rally when it begins has a fast rate of change in the beginning. Then every mile becomes a harder climb. Take a look:

From 4900 to 5000 one session
From 5000 to 5100 five sessions
From 5100 to 5200 seven sessions
From 5200 to 5300 (today) 9 sessions.

A fall may not have the same logic or even reverse logic. Old market saying Bulls climb the stairs, Bears jump from the windows.

 

[AW10]

Nice observation TT. In simple terms, rate of change is coming down..
Or Oil is getting costlier or mkt is running in reserve now.

Besides this new high is coming at low volume and adv/decline number is also not very healthy (7-Jan - 709 adv/592 decline, 18-Jan - 684 adv/638 decline and today 29-Mar - 463 adv/872 decline ). Market PCR is also at 0.84 which is <15% of time when mkt has been there in bull market of 2009.

Somebody out there really knows what market is really doing now and how long will it continue before it traps bulls.

Happy Trading

 

[shanki99]

Nice observation TT. In simple terms, rate of change is coming down..
Or Oil is getting costlier or mkt is running in reserve now.

Besides this new high is coming at low volume and adv/decline number is also not very healthy (7-Jan - 709 adv/592 decline, 18-Jan - 684 adv/638 decline and today 29-Mar - 463 adv/872 decline ). Market PCR is also at 0.84 which is <15% of time when mkt has been there in bull market of 2009.

Somebody out there really knows what market is really doing now and how long will it continue before it traps bulls.

Happy Trading

One shudnt forget that this Year as well as Qtr end and lots of fund managers wud like to close on the higher side....any major corrections wud only start from new financial year...MHO