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The Cnceptual Trader
The Cnceptual Trader

@CnceptualTrader

5 Tweets 87 reads Feb 06, 2022
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HOW TO IDENTIFY A GREAT #BREAKOUT BEFORE IT HAPPENS - The NR7 #concept.
A #thread.
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HOW TO IDENTIFY A GREAT #BREAKOUT BEFORE IT HAPPENS - The NR7 #concept. A #thread. 1/6 https://t.c...
NR7 or Narrow Range 7 is the #concept used to find breakouts before that happen.
NR7 is based on the concept that when a #stock is in narrow range for 7 days, it may give a #breakout.
It is applied on daily time frame #charts only.
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You need to see range (High - Low) of 7 consecutive daily candles.
The 7th candle's range should be the lowest of all.
See the example of #tatachem in this image, all 6 candles have lesser range than 7th one.
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You need to see range (High - Low) of 7 consecutive daily candles. The 7th candle's range should be...
Now mark the high and low of 7th #candlestick.
When the 8th day's price crosses these lines, a breakout is in cards.
Take a long/ short position according to breakout with 7th day's low/high as SL respectively.
The entry in this chart should be at 728 & SL at 720
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Now mark the high and low of 7th #candlestick. When the 8th day's price crosses these lines, a break...
After the entry use price action and trailing SL to take maximum #profits of breakout.
NR7 has #accuracy of around 50%, but when the breakout happens it's usually huge.
More such examples are #Naukri, #DIVISLAB etc.
Consider following & #retweet for wider reach.
End.
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After the entry use price action and trailing SL to take maximum #profits of breakout. NR7 has #acc...
After the entry use price action and trailing SL to take maximum #profits of breakout. NR7 has #acc...

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