NR7 - ID Breakout
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Thread: NR7 - ID Breakout

  1. #1
    NR7 - ID Breakout

    I have wrote some articles about NR7 in another thread and this seems to be new for many traders (mostly newbies).
    So here is new thread only for this things.
    I shall post here some realtime trades within the upcoming few weeks.

    NR stands for Narrow Range.
    A narrow range candle is simply a candle which has a range from high to low that's much less than the average past candles. Many traders are monitoring NR7 (daily !!!) candles. NR7 means the narrowest range of the previous seven candels.

    With NR we could observe for the Range Contraction.

    So if we have NR7 in conjunction with ID (inside day), it is a really good setup.
    The principal thing on this setup is that the very superior chance/risk-ratio.

    (also Google: NR7, ID)

    Example:
    http://img517.imageshack.us/img517/2909/idnr7fg7.gif

    http://img517.imageshack.us/img517/2909/idnr7fg7.gif

  2. #2
    Quote Originally Posted by ;
    Could you describe in more in detail, please.
    Hello qwer.

    This setup I will track on daily and also some focus on 4H.
    The trigger-chart will probably be 5M and the egie is based on the openning range brkout.

    I will make some realtime transactions here, so we can see all details.

    Because of the vaions from the past week, I will wait a couple of days to begin a NR-count.

  3. #3
    Quote Originally Posted by ;
    Could you explain in more in detail, please.
    Read Day Trading With Short Term Price Patterns and Opening Range Breakout by Toby Crabel. If you can contact a copy it may put you back a couple of bob,

    http://www.amazon.com/Trading-Short-.../dp/0934380171

    but I have heard there are different means of obtaining literature.... Not that I would ever advoe using an internet search engine.

  4. #4
    We have excellent chance to get an NR7-ID brkout for EURJPY.

    Today is the NR7-day and inside day.
    For sure we have to wait for close of this day candle. But I dont anticipate any brkout throughout the US-session.

    Also helpfull the 2 pivots.

    For entrance I have the first-time window at about 00:00 GMT, oppening new candle.

    My trigger chart will be 5M.
    I shall post it realtime.

    http://img396.imageshack.us/img396/3419/factejlq6.gif

  5. #5
    It is an inside day up to now, but surely it's only considered an inside bar when it's closed and also the trading range for this evening has made its high and low. Also, taking a look at my charts here on Alpari and WHC, the high of yesterday was taken out by a few pips, but all these are set to Asian open as a new day - whereas I would consider the authentic new day for FX to begin at London open, or at least the first 30mins is what I consider to be the opening range for OR breakout egies.

    Interested in seeing someone uses Crabel's egies though (I assume that is the method you are using) as despite it being an excellent book I believe it is difficult to trade these sorts of approaches on a private level.

  6. #6
    Quote Originally Posted by ;
    We've good chance to get an NR7-ID brkout for EURJPY.

    Today is the NR7-day and inside day.
    For sure we have to wait for close of the day candle. But dont expect any brkout throughout the US-session.

    Additionally helpfull the 2 pivots.

    For entrance I have the first-time window at approximately 00:00 GMT, oppening new day candle.

    My activate chart is going to be 5M.
    I will post it here realtime.

    Http://img396.imageshack.us/img396/3419/factejlq6.gif
    No NR7 and ID now on EURJPY.

  7. #7
    Hello,

    I have to know more about this... someone???

  8. #8
    NR7 ID brkout on EJ


    EJ Brief 115,68
    SL 116,15

  9. #9
    Quote Originally Posted by ;
    NR7 ID brkout on EJ


    EJ Brief 115,68
    SL 116,15
    Also take a look on EU and EC
    http://img209.imageshack.us/img209/1549/tttyc0.gif

  10. #10
    Interesting system, have someone use it in additional TF ??

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