Trading NR7 setup

[rohangawale]

Again an nr7 day today
day 1 range (today) 75
day 2 range (yest) 141
day 3 range 76
day 4 range 346
day 5 range 136
day 6 range 95
day 7 range 113

 

[MurAtt]

One confusion : is NR7 calculated always on the last 7 days irrespective of other NR7 days or we start calculating afresh after a NR7 day?

 

[Sunil]

One confusion : is NR7 calculated always on the last 7 days irrespective of other NR7 days or we start calculating afresh after a NR7 day?

answer is what u have already highlighted

 

[WOD]

Again an nr7 day today
day 1 range (today) 75
day 2 range (yest) 141
day 3 range 76
day 4 range 346
day 5 range 136
day 6 range 95
day 7 range 113

I suppose it was meant to be one........tommorow we will be seeing some very good fireworks (all technicals are pointing the same)...

NR7 will show its effect tommorow for sure....

 

[WOD]

Today might be another narrow range day. But because of day before yesterday we may not get a NR4 even. However compared to the atr it would be a small range. (I was just comparing ranges to atr and found it a better way to calcuate NR days).

Today watching for a close above 4100 for neutral and 4140 for bullish bias.

LT, we again had a close of 4080....sure not expecting any bullish bias in these circumstances..........

many people must have been caught on long side and sharks will not give them opportunity to exit..

Its gonna be all down now.....past experience...:thumb:

 

[lazytrader]

LT, we again had a close of 4080....sure not expecting any bullish bias in these circumstances..........

many people must have been caught on long side and sharks will not give them opportunity to exit..

Its gonna be all down now.....past experience...:thumb:

I said bullish over 4140. I won't be surprised if tomorrow 4040 holds and we end up over 4120 in which case taking today's NR into consideration would indicate a huge move up. So I would open a long about 4145-4150 on spot. On the down side 4040 break should mean short but RR is not in favour so I would short around 4150 on retracement "if any".

Today's NR is wicked. I thnk it is a NR34 with pivot on the close.

Not ruling out another possibility.. another NR. I think AW10's options strategy would be perfect for today for 4080 ATM.

I still am not convinced of the downside because I feel the ones who "missed the bus" last time will jump in at 4000. Last thing you would want is a gap up on monday when you are short.

Anyone carrying overnight shorts tomorrow?

 

[Aqua9]

I said bullish over 4140. I won't be surprised if tomorrow 4040 holds and we end up over 4120 in which case taking today's NR into consideration would indicate a huge move up. So I would open a long about 4145-4150 on spot. On the down side 4040 break should mean short but RR is not in favour so I would short around 4150 on retracement "if any".

Today's NR is wicked. I thnk it is a NR34 with pivot on the close.

Not ruling out another possibility.. another NR. I think AW10's options strategy would be perfect for today for 4080 ATM.

I still am not convinced of the downside because I feel the ones who "missed the bus" last time will jump in at 4000. Last thing you would want is a gap up on monday when you are short.

Anyone carrying overnight shorts tomorrow?

Hi LT

Am carrying 2 lots of Put 4000, bought at 100 closing was at 105, do you find it risky ??? will there be a GAP Up??

bit worried

best regards
Aqua

 

[WOD]

I said bullish over 4140. I won't be surprised if tomorrow 4040 holds and we end up over 4120 in which case taking today's NR into consideration would indicate a huge move up. So I would open a long about 4145-4150 on spot. On the down side 4040 break should mean short but RR is not in favour so I would short around 4150 on retracement "if any".

Today's NR is wicked. I thnk it is a NR34 with pivot on the close.

Not ruling out another possibility.. another NR. I think AW10's options strategy would be perfect for today for 4080 ATM.

I still am not convinced of the downside because I feel the ones who "missed the bus" last time will jump in at 4000. Last thing you would want is a gap up on monday when you are short.

Anyone carrying overnight shorts tomorrow?

Me carrying PE and if I am seeing a close above 4100 above tomorow (4080 becoming vey strong support hence would not take any chance 20 points above that level) then would close the trade.......yup going long above 4150 would be good strategy....

Anyways, I dont think people will want to board a bus returning with such a speed

 

[AW10]

(I was just comparing ranges to atr and found it a better way to calcuate NR days).

Just to clarify the difference between , Daily Range and ATR (Average True Range)

Daily range just looks at difference of Day's high and low.

ATR is derived from the True Range which is the greatest of the following three values:
1) difference between the Today's high and low (i.e. daily range)
2) difference between the Previous Close and Today's High
3) difference between the Previous Close and Today's Low.

That means, ATR does take into consideration the opening gap.
So when we a day with wide gap but then for the whole day the action was in narrow range, we might get a NR signal.. but on ATR front it might still show as high ATR day.

With this background, I would not use ATR to identify NR days.

Happy Trading.

 

[WOD]

AW10, have you ever tried applying NR7 on 5 min chart? if yes then have you observed any +ve results?

I have tried to do the same, but did not have any success with it.