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Hey put', welcome to ET and thanks for your in *put*. :) You are absolutely right and you make a very important point not just about the profit potential of NRID7's, but about EVERY consolidation pattern. Using currencies as the subject example is perfect. Thanks for the contribution.

Here are some interesting looking stocks that were NRID7's yesterday: ANPI, MDCO, ENDP. ENDP looks somewhat like the CSCO chart after it gapped lower. The other two are self-explanatory. Check the news, and review the next longer and shorter time frames.

GM daily chart. This is a 28 day pattern, today is day #14. As I have it drawn this is a symmetrical triangle. The characterisitics of a symmetrical triangle can be reviewed quickly at chartpatterns.com. Don't forget to look at news and check the next longer and shorter time frames. There is...

As a microtrader looking for a quick pop, I'm thinking something might be getting ready to happen here. Either that or the stock is just going to flatline.

This is for the guys who might be thinking, "Pfft, see.... patterns don't work. It was supposed to break down and instead it broke out. Hmmph, I missed another good trade." C'mon, give me a show of hands.... you know who you are! If there is one thing that I don't put any credence in it is...

I try not to have one with consolidation plays. That way I am not talking myself into or out of a trade. I prefer to draw a couple of lines that I think represent support and resistance and let price action dictate. This is channel talk basically, which is right down your alley. If the width of...

I think something is getting ready to happen. How about you?

Thanks jem, I appreciate it. -------------------------- Re: I wanted get this in as BA was at or near the HOD so far, but things were moving slow. Maybe it's this 386 computer I use. The HOD is only 2 cents higher than the high 2 days ago. The opening volume is good but nothing stellar...

Coincidence happens, I recognize that fact. With regards to stock prices, I don't believe much in coincidence though. But that's me. I know from previous discussions that there are a lot people who just don't believe there is validity to the geometric patterns that occur during consolidation...

Here's BA. As I have it drawn it is a pennant. The length is ~11 days. Today is day #5. The green line is an unfilled gap level. Looking back on your own charts you will see that there tends to be some consolidation around major MA's. Classically... one should expect a breakdown on good...

What was that? I'm sorry... what? Did someone say.... "dang!!!" :) They don't all work this well, but if you just take the time to look back on the indices you see that many of them do work that well. What you should look at is the prevalence of true outside days (whipsaw) that follow...

Going into the last 30 minutes all three major indices have printed NR7's. The ID part is not very common with the indices. But if you take the time to look back over the last year... longer if you want.... you will see that very nice trading opportunities have availed themselves following index...

I made two mistakes, and these are mistakes I have made before and most likely will make again. First I got locked in to the daily chart and didn't use the shorter time frames for reference, even though I had appropriate s/r drawn on the 60 minute chart the day I posted the daily chart. And...

Breakdown! However, I confess, I had no idea how to trade this. I took a small loss on the first day on the first break below the previous day's low. The subsequent rally chased me out quickly the same day, only to se it close on the LOD. The next day gapped up and ran an outside day the...

LLY: NRID7 Average Daily Range: 1.42 Today's %ADR: 58 Verify the pattern and set stops with candle / bar charts. Notice the proximity of the last four closes. Look at next lower and higher time frames. Check for earnings and/or pending FDA announcements. Be careful and don't jump...

If this keeps up there will be a ton of NR's and NRID's tomorrow.

Or how about this one... is the consolidation narrow enough to allow for a small enough loss versus potential gain? I mean sheesh!

Sure it just made a new HOD on this bar.... but there is no way I am going to be around to see it. On a quick hitter like this, a 50% retracement on a big bar and I am history. Hey maybe that's why I have retreads on my Pinto... but it works for me.

Well that worked out well so far - for a short short term chart the profit is decent enough to pay for lunch. :) I see it's a bit higher than the chart right now.

Maybe some fun on this 15 minute chart: