S/R

Quote from dbphoenix:

I might also mention that the main reason I don't get too involved with pivot numbers beyond S2/R2 is that by the time you're past that, you're usually into much more important S/R, so the pivot levels just aren't all that critical. In other words, I have no idea whether price turns because of the obvious S/R or because of the pivot number. I'm assuming the former, since by the time price gets to what would be S3 or S4, for example, it's probably "oversold", in which case there are other ingredients being added to the mix.
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I had asked Linnsoft to add to their indicator the
S/R 3.5 and 4.0 periods to the rest of the pivots.
But then I told them not to put me on the list of
wanting them to bother with it, precisely because
of what you pointed out. By the time price gets
that high, there are other forces going on that are
probably more important.

jd
 
Nothing as fun as watching paint dry.
The first swing from the low of the day to the high of the day, would have been the best and easyst trade to make, as it came with in my 4 tick paramiter of PDL for entery.( my trade of the day)

Nq made an NR13 today with a 15.5 point range ( if my data it correct )

5 of the last 6 days the nq has closed lower than the previous days close.

Important levels that I have, to go along with floor pivots for tomorrow are
1460.5
1475.5
1483.5
1499
1509.5
1516.5

I've been looking at the 3 minis, and really can't get a good judgment as to which way they'er likly to go.
What it dose look like to me is they'er storing up some energy, looking for a catalyst.
We'll see.
I attached a chart of what I view as a good opprtunity for a trade. ( I did not take it )
 

Attachments

Quote from dbphoenix:

How are you defining "NR"? 8 of the last 9 days, the NQ has been at or outside the 10dADR (not counting today).
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The last time NQ had a range equal to or less than 15.5 (my data ) was on 1/14, 13 trading days ago.

On 1/14 I have a daily range of 15.5 also.

I brought it up because we have not been seeing narrow range's lately, ( this year)
 
I'm not familiar with your definition. Ordinarily, "NR13" would mean that the NQ has had 13 consecutive days narrower than the range 13 days ago.
 
Quote from dbphoenix:

I'm not familiar with your definition. Ordinarily, "NR13" would mean that the NQ has had 13 consecutive days narrower than the range 13 days ago.
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Go's to show how much I know.
When I seen NR? around, I thought it means the narrowest range of the last ? periods.

But what you're saying, is for a NR ? to be valid, each period has to be narrower than the period immediately before it.

Like this?

16=not here
20
19
18
17=NR4
 
Sulong,

That was my understanding of the definition too. Here's a quote from Tony Crabel: "NR7 - a day with a daily range narrower than the previous six days' daily ranges compared individually."

A quick Google search showed that this is the way it's commonly used.
 
Ah. No. What it refers to is a type of coil formation in which pressure is built up over a period of several NR days, resulting in - supposedly - an explosive breakout one side or the other. I've seen references to NR4s, NR7s, and even NR9s, but I've never seen any of it to pan out consistently. Prices are going to break out when they're going to break out. Counting days seems a bit simple-minded.

But the principle is sound: the longer the pressure builds (assuming there's interest in the stock or whatever in the first place) and the more tightly-wound the days become, the more likely there will be an explosive move of some sort. Whether or not that results in a sustained advance or not is another issue, which is one reason why I don't spend a whole lot of time looking for this sort of thing. If you like to play breakouts, tho, these may be just your cup of tea.
 
Quote from dbphoenix:

Ah. No. What it refers to is a type of coil formation in which pressure is built up over a period of several NR days, resulting in - supposedly - an explosive breakout one side or the other. I've seen references to NR4s, NR7s, and even NR9s, but I've never seen any of it to pan out consistently. Prices are going to break out when they're going to break out. Counting days seems a bit simple-minded.

But the principle is sound: the longer the pressure builds (assuming there's interest in the stock or whatever in the first place) and the more tightly-wound the days become, the more likely there will be an explosive move of some sort. Whether or not that results in a sustained advance or not is another issue, which is one reason why I don't spend a whole lot of time looking for this sort of thing. If you like to play breakouts, tho, these may be just your cup of tea.
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While it's true that "the longer the pressure builds.... the more likely there will be an explosive move of some sort" that's not what NR7 (to select one example) means. Sulong was accurate that it simply means it's the narrowest range day of the prior 6 (inclusive). Nothing at all about consecutive narrower days, coiling, etc. Toby Crabel observed that "breakout" days, or wide-ranging days often follow NR7 days.
 
Quote from Magna:

While it's true that "the longer the pressure builds.... the more likely there will be an explosive move of some sort" that's not what NR7 (to select one example) means. Sulong was accurate that it simply means it's the narrowest range day of the prior 6 (inclusive). Nothing at all about consecutive narrower days, coiling, etc. Toby Crabel observed that "breakout" days, or wide-ranging days often follow NR7 days.
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Brain fart. For some reason, I thought the reference was to the Raschke/Williams ID/NR?. Therefore, Sulong's original statement is correct.

However, the comments I made still apply, and there's no evidence to support the contention that "NR4s" or "NR7s" or NR-whatevers are any more likely to lead to WR days than any other day. If there ever had been, that particular edge has long been dulled. For instance, there was a long string of days in December that couldn't exceed or even match the 10dADR, though one came close.
 
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