Trading NR7 setup
- Thread starter AW10
- Start date
- Tags narrow range nr 7 nr4 option trade
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Paul
You are a member since July 2011 and never had time to read any forum rules? Hmm??
We all know Paul the Forex trader and you could be the Paul which is more in stocks and as far as I know also in stock options. If so, then that would be the reason why I would know your name but I also could be wrong at the same time, as there are more then one Paul Mathew on earth.
Now a comment to your post: There is a way to get out of that and that is by giving a PM. Check about that in the forum rules and check about how many post you have to make before being able to do that.
Good trading
DanPickUp
You are a member since July 2011 and never had time to read any forum rules? Hmm??
We all know Paul the Forex trader and you could be the Paul which is more in stocks and as far as I know also in stock options. If so, then that would be the reason why I would know your name but I also could be wrong at the same time, as there are more then one Paul Mathew on earth.
Now a comment to your post: There is a way to get out of that and that is by giving a PM. Check about that in the forum rules and check about how many post you have to make before being able to do that.
Good trading
DanPickUp
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Boss, leave aside Coal India, tell us about how you use Aroon.. we are like blind leading blind where Aroon is concerned. Do you use it regularly ??
If possible, look up the thread "Does Aroon Shine For You?", and post your experiences with Aroon. Thanks in advance.
If possible, look up the thread "Does Aroon Shine For You?", and post your experiences with Aroon. Thanks in advance.
NR7 is more of a set up than a Strategy to Trade!! members have devised their own way of trading it or incorporating it into their existing Trading Strategy!
A member here trades this Set up too!! Buy above the high with filter or sell below the low less filter... he uses it to generate small profits and exits! Have written to him to Post his trades here for others to take some cues from it.
If we go by "breakout" as mentioned by you, NF did break out above 26th April levels which was NR7 (actually was NR12) and a Long position could have been initiated on Monday.
On 27th April NF did go above the High of 26th but closed lower. However on 28th Saturday (Limited trading hours) NF went above the high of 26th and also closed higher. People might have gone long at close on 28th also.
28th again was incidentally a NR12 range!
So I wish to say is that there is no Yes/No answer to your query that are we expected to go long in Nifty at current levels!!! It will differ from person to person, trader to trader!!!
Do post your views and how do you propose to use this Set up in trading Nifty futures.
A member here trades this Set up too!! Buy above the high with filter or sell below the low less filter... he uses it to generate small profits and exits! Have written to him to Post his trades here for others to take some cues from it.
If we go by "breakout" as mentioned by you, NF did break out above 26th April levels which was NR7 (actually was NR12) and a Long position could have been initiated on Monday.
On 27th April NF did go above the High of 26th but closed lower. However on 28th Saturday (Limited trading hours) NF went above the high of 26th and also closed higher. People might have gone long at close on 28th also.
28th again was incidentally a NR12 range!
So I wish to say is that there is no Yes/No answer to your query that are we expected to go long in Nifty at current levels!!! It will differ from person to person, trader to trader!!!
Do post your views and how do you propose to use this Set up in trading Nifty futures.
Coal India touched a high of 355.2 and it slided down upto 342.60 when it broke previous low of 349.4. It did went up by 0.20p above it's previous high of 355.Hence there is a need of a filter. One need not buy / sell as soon as it breaks previous high or low. A filter of some percentage has to be kept.
Similar was the case of GAIL .It had a NR7 set up on Monday. It did not broke the previous day's high. But it slided down to 325 when it broke previous low of 329.55. The figures are from BSE.
Today REL COM had a NR7 set-up. Let's watch it for tommorrow.Still finding some stocks which have NR7 set-up today.
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