Trading NR7 setup

[rohangawale]

NR7 Stocks Triggered on 14th Oct:

[B]STOCK		HIGH		LOW[/B]
[B]DLF		437		428**[/B]
GRASIM		2438.8		2388.1
HCL TECH	309		302.6
HERO HONDA	1662.65		1631
HIND UNILEVER	295.8		291
ICICI BANK	933.9		916.85
ITC		261.8		256.65
[B]MARUTI		1549		1512**[/B]
PNB		869		846.45
RANBAXY		403.55		395.15
SIEMENS		591.9		581
[B]TCS		598		580.7**[/B]
WIPRO		588		575.25

** are 2NR7 stocks

 

[rohangawale]

NR7 Stocks Triggered on 14th Oct:

[B]STOCK		HIGH		LOW[/B]
[B]DLF		437		428**[/B]
GRASIM		2438.8		2388.1
HCL TECH	309		302.6
HERO HONDA	1662.65		1631
HIND UNILEVER	295.8		291
ICICI BANK	933.9		916.85
ITC		261.8		256.65
[B]MARUTI		1549		1512**[/B]
PNB		869		846.45
RANBAXY		403.55		395.15
SIEMENS		591.9		581
[B]TCS		598		580.7**[/B]
WIPRO		588		575.25

** are 2NR7 stocks

Close of NR7 stock on 15th Oct:

		[B]14-Oct			15-Oct	
STOCK		HIGH	LOW		Close	Trigger[/B]
DLF		437	428		433.40	No Breakout
GRASIM		2438.8	2388.1		2397.15	No Breakout
HCL TECH	309	302.6		301.60	Down Break
HERO HONDA	1662.65	1631		1656.40	No Breakout
HIND UNILEVER	295.8	291		289.20	Down Break
ICICI BANK	933.9	916.85		935.95	Up Break
ITC		261.8	256.65		256.40	Down Break
MARUTI		1549	1512		1526.05	No Breakout
PNB		869	846.45		857.45	No Breakout
RANBAXY		403.55	395.15		392.75	Down Break
SIEMENS		591.9	581		593.15	Up Break
TCS		598	580.7		581.80	No Breakout
WIPRO		588	575.25		574.95	Down Break

 

[VJAY]

Close of NR7 stock on 15th Oct:

		[B]14-Oct			15-Oct	
STOCK		HIGH	LOW		Close	Trigger[/B]
DLF		437	428		433.40	No Breakout
GRASIM		2438.8	2388.1		2397.15	No Breakout
HCL TECH	309	302.6		301.60	Down Break
HERO HONDA	1662.65	1631		1656.40	No Breakout
HIND UNILEVER	295.8	291		289.20	Down Break
ICICI BANK	933.9	916.85		935.95	Up Break
ITC		261.8	256.65		256.40	Down Break
MARUTI		1549	1512		1526.05	No Breakout
PNB		869	846.45		857.45	No Breakout
RANBAXY		403.55	395.15		392.75	Down Break
SIEMENS		591.9	581		593.15	Up Break
TCS		598	580.7		581.80	No Breakout
WIPRO		588	575.25		574.95	Down Break

Dear rohan,
Is DLF not break Up? Am traded today enetres 437.10 and sold at 440!!

 

[rohangawale]

Dear rohan,
Is DLF not break Up? Am traded today enetres 437.10 and sold at 440!!

Thats absolutely right, but here we are taking the break out as per the close price.
441 was high of dlf today and our breakout level was 437. but after touching high of 441 which was resistance for dlf, it came down with mkt and gave a close between yesterdays range.
so it is in no brekout.

 

[AW10]

Originally Posted by VJAY
Dear rohan,
Is DLF not break Up? Am traded today enetres 437.10 and sold at 440!!

Thats absolutely right, but here we are taking the break out as per the close price.
441 was high of dlf today and our breakout level was 437. but after touching high of 441 which was resistance for dlf, it came down with mkt and gave a close between yesterdays range.
so it is in no brekout.

Extending on what Rohan has replied.
This is the question of timeframe.. in which timeframe u are looking at.
If you are day trader, then yes DLF gave breakout on upside.. Vijay traded it and managed the trade beutifully and came out before price reversed back to the yesterday's range.
So on intraday TF, we had seen breakout and failure of that break as well.

But if your timeframe is beyond 1 day.. and when u look at the close price on daily chart, then it might be a false breakout on daily timeframe.
If this breakout has to sustain on daily TF, then prices shd have stayed out of yesterday's range.. which did not happen..
Hence for daily chart trader, it is no breakout. cause range is still intact and we are trading in the range.

Hope this helps.

Happy Trading

 

[scorpio77]

Hi Inangia,

Can you repost this? The max downloads have been exceeded.

Thanks,

Scorpio

Thanks mate. I'm finding NR7 and 4 very interesting as this can be used as confirmation for VSA/Wyckoff Methods or maybe in conjunction. In the previous post you mentioned about trading using price action. There is a chap who goes by the name dbpheonix on TL forums perhaps you should pay a visit to his blog. He has written great articles on price action. And in the unlikely event if you want to skip the trouble, i have taken some of his best articles and put them in a pdf file.Here is the link if you wish to download

http://rapidshare.com/files/291032757/Price_Action.pdf


Cheers

 

[Placebo]

Hi scorpio77.Please try downloading again.I have transferred the file to the collector's account and there is no download limit

Cheers

 

[rohangawale]

NR7 Stocks Triggered on 15 Oct:

[B]STOCK		HIGH		LOW[/B]
BHEL		2549.4		2472.4
GAIL		385.7		377.1
GRASIM		2421		2375**
M&M		980		952.6
MARUTI		1548		1512.2**
PNB		867		850**

**= 2NR7 Days

 

[rkkarnani]

Hello rohangawale,
In any NRx do we look back x number of bars and comapre it with todays bar or is it comapring todays bar with x-1 bars!!!

In NR7 do we look back past 7 bars, not counting todays bar or do we look back 7 bars including todays bar!!

Trust I have been able to explain what I wish to know!!

There have been some difference in your NR7 findings and what I got.
For finding NR7 on say 14th Sep. I was looking at range of all bars from 1st October.( The 7 previous days traded were : Oct.: 1,5,6,7,8,9 &12 and 14th Oct is current day).

Please clarify and oblige!!!
Regards
-R K Karnani

 

[rkkarnani]

Well got my answer from the very first post of the thread!!!! Seems as I had read the thread (most of it) at one go so the mental retention was feeble!!! I have corrected myself!!
Beware : Well this also makes my intraday 30 minutes chart as erratic!!! Shall try to post a correct chart as soon as I get the new corrected indicator for MS from my friend!! Regret inconvenience caused!!!