Trading NR7 setup

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rohangawale

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Thanks for the scrips and wonderful strategy. Did ACC from 826 to 840. It made high 842... Thanks for sharing...
Say thanks to AW10 for the wonderful strategy which we are following.

Acc made a high of 842.5. but the close was again inbetween NR7 range i.e between 813.1 - 825.9. so its mentioned as no breakout.
 

rohangawale

Well-Known Member
One View, Nifty Future made NR7 on 29th September, 2009 and on 30th Gave upbreak. Now you have posted nifty spot as NR7....
On 29th Sept Nifty spot gave NR4 signal.
Basically i am not tracking Nifty Futures. Only working with spot nifty, so mentioning only of spot nifty in any case.

But will try to maintain Nifty futures data also from now onwards.
 

AW10

Well-Known Member
Congrats for catching the breakout.
Can u post your stopless level (not mental but a level that u would have exited) ? When u bought it at 826, where did you put the stop ?

If you had not thought about stops, then my suggestion will be to take care of this in futures. Breakout trading has low rate of success and if it not traded correctly, then next breakout trade might take back this profit from you.

So you need to focus on loss side as well and have a strategy where you limit the amount that u give back to market.

Happy Breakout trading.
 

asnavale

Well-Known Member
Ok. Anant.

Now you can go for exploration.

BUT

In exploration, like u have seen in the above chart there are 3 NR7 in a row, if any multiple instances of any ID, IDNRx or NRx can be mentioned then it would be "sone pe suhaga".

This multiple NRx can be marked as xNR4 or xNR7 or xIDNRy ...

Now awaiting the AFL.

Murtaza
Hi Murtaza Bahi and AW10,

I have made the AFL to show multi NRx and IDNRX etc. I have a small doubt:

As you know, NR7 is also NR4, therefore, a NR4 and NR7 adjacent to each other (the order is no important) will make a 2NR4 and a simple NR7. similar is the case with combinations of IDNRx, ID etc. In such situations whether they should be considered as multiple NRx? Or should we take each category separately? What I mean is a 2NR4 is only when two NR4 are together and not a NR7 and NR4. Similarly, IDNR7 together with NR7 is NOT multi NR7, a IDNRx with ID is not multi ID etc.

If we label the bars with xNRy etc it will be too cluttered. The bars will continue to show the number 4, 7 etc even for multi NR set up. But in Title it can be shown as xNRy or xIDNRy or xID etc. In Exploration table no problem. We can have separate columns for single NRx and multi NRx.

Just waiting for your feed back.

-Anant
 
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