Classic Geometric Patterns and Narrow Range Setups

Here is the list for today of SP500 candidates for today. I deleted those that were less than $10.

ADBE, AES, AW, AT, BFO, BCC, BNI, CEN, CHA, CSCO, CSC, CBE, COST, CR, DELL, DNB, F, HCR, HSY, N, JCI, KBH, KMB, KLAC, MAT, MYG, NSM, OKE, PGL, PEG, S, THC, TEN, TNB, TOY, UN, VFC, WFC.

Gee sunny', wouldn't you know, the day you start the tally there is a boatload of symbols.
 
Hi Folks,

Let me add QQQ to the list. Attached is a chart that shows how you might benefit by focusing on one stock that represents a hunderd. Enjoy. And if you like it, visit my homeage. Good luck.
 

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Something that may - or may not - be of interest.

TASR setting up today with a NR/ID. Beware - earnings out Tue. This is volatile, but is an interesting setup.
 

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nice tasr chart. looks like a high prob. long if it breaks up. anyhow inandlong, i cant follow along 30 tickers. lets pick the first 5 alphabetically or whatever - i can handle that.
 
Quote from sunnyskies:

...anyhow inandlong, i cant follow along 30 tickers. lets pick the first 5 alphabetically or whatever - i can handle that.
More...
Sure, that sounds like a more reasonable number anyway. Of course we might have to endure the criticism that it doesn't properly represent the entire list blah blah; and, we know from previous threads that we don't even want to touch the topic of "random selection". :)

How about this? This weekend I'll set up an Excel spreadsheet using the same headings as I posted previously. I think ET allows upload of .xls format. That way we can rapidly do some "what if's." Some "what if's" I have in mind are changing the entry from .10 to a larger number, or having a set profit target like .30. However, to start, I'll keep it at .10, and post the Max Profit Potential and the MOC. We can make changes from there. Additionally, I'll include both NYSE and Nasdaq stocks.

Again, and I apologize for repeating the obvious, this is a sleepy market. And it is filled with conflicting signals versus all good or all bad. So this should be the most difficult market for a consolidation break method to be successful.

Also, easyguru has posted a consolidation break method using a set of parameters that works very well. Therefore, we must remember that using NRID's and geometric patterns is only ONE way to select consolidation break candidates, and in no way does this exercise represent the end-all of consolidation break trading methods.
 
Nice chart snoop'.

It will be very interesting to see how traders commit prior to earnings. The bottom of the triangle coincides with the 20d sma.

Thanks for the post.
 
NVEC was a magnificent NR7 breakdown 3 days ago ...depending upon your data feed, might have been IDNR4....also, JUPM from 7/6 IDNR4 through 7/8

backman
 
Backman those are excellent examples of the power of this trade.

NVE highlights an excellent point about using the NRID setup to find consolidation patterns. NVE first qualified as an NRID on Tuesday. Wednesday's trade did not trigger an entry. But look at Weds range! It's even narrower than Tues, and it clearly is in a consolidation pattern.

Continuing to monitor NRID setups that don't trigger executions the first day can lead to rewarding trades on subsequent days when the consolidation break ultimately... and inevitably.... occurs. Also, as we have seen, some of the NRID setups trigger trades that end up with very small profits or losses... ie., they do not break out of the consolidation. Those candidates are worthy of further consideration as well.

Thanks backman.
 

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Do not let TASR....ZAP YOU!!! Watch out you could have on heck of an electrifying experience. :eek:


Funny TASR story - I know a 19 year old kid that just started daytrading stocks a few months ago, and he started with TASR. He called me one day early in the morning crying that he was down $6.00 a share in TASR with his full account on the line. He asked me what to do and I told him about the use of STOP's, but he was very rattled and I told him he better figure out what he is going to do and fast. The next day he called me cheering like his favorite team had just won the Super Bowl...I said, "what the hell happened, why are you so happy"? He said he was up $12.00 a share in TASR from yesterday (up a net of $6.00/share...lucky bastard!), and I told him he better sell fast and keep his profit....he did and I told him this is the worst thing that could have happened to him as a starting trader....Lucky little shit!?!?!?!?!
 
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