NR7 - ID Breakout
I have wrote some posts 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 will post here some realtime trades in the next 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 tracking NR7 (daily !!!) candles. NR7 means the narrowest range of the last seven candels.
With NR we can watch for the "Range Contraction".
So if we have NR7 in combination with ID (inside day), it is a very good setup.
The main thing on this setup is the very good chance/risk-ratio.
(also Google: NR7, ID )
Example:
http://img517.imageshack.us/img517/2909/idnr7fg7.gif
http://img517.imageshack.us/img517/2909/idnr7fg7.gif
zeuzera
I have wrote some posts 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 will post here some realtime trades in the next 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 tracking NR7 (daily !!!) candles. NR7 means the narrowest range of the last seven candels.
With NR we can watch for the "Range Contraction".
So if we have NR7 in combination with ID (inside day), it is a very good setup.
The main thing on this setup is the very good chance/risk-ratio.
(also Google: NR7, ID )
Example:
http://img517.imageshack.us/img517/2909/idnr7fg7.gif
http://img517.imageshack.us/img517/2909/idnr7fg7.gif
zeuzera