Here what i mean...
we could have to wait the breakout & confirmation...
we could have to wait the breakout & confirmation...
Attached Image (click to enlarge)
- #9,422
- Edited 4:27am Nov 21, 2017 4:03am | Edited 4:27am
Stopped out @ BE +1
Entry after pull back.
After the stop i don't re-enter cause the divergence and market seems so nervous this morning.
But was an error, i'm feel so stupid somtimes.
As Dee50 said "trade what you see and don't what you think" is always a valid mindset.
Entry after pull back.
After the stop i don't re-enter cause the divergence and market seems so nervous this morning.
But was an error, i'm feel so stupid somtimes.
As Dee50 said "trade what you see and don't what you think" is always a valid mindset.
Bad luck this time.The most important that You avoid losing money.By the way - I send You PM.
Dax +34
Good morning guys,
today starts with a short trade.
Renko5 : 13200 don't hold, and price start to form an 123 reversal pattern.
Note as point 3 coincide with Stoch peak + 61.8 retracement + trendline.
Entry: after point 3 price break a diagonal trendline + pull back to 13175 and continuation + price clearly down the emas + Macd <0.
So i enter 2 renko brik before 123 breakout enter.
Exit: I put my Tp @ confluence of 161.8 Fibo's + Brn + Yesterday S/R. +34 pips.
Then price went down for more 10 pips.
Good morning guys,
today starts with a short trade.
Renko5 : 13200 don't hold, and price start to form an 123 reversal pattern.
Note as point 3 coincide with Stoch peak + 61.8 retracement + trendline.
Entry: after point 3 price break a diagonal trendline + pull back to 13175 and continuation + price clearly down the emas + Macd <0.
So i enter 2 renko brik before 123 breakout enter.
Exit: I put my Tp @ confluence of 161.8 Fibo's + Brn + Yesterday S/R. +34 pips.
Then price went down for more 10 pips.
{quote} When I get puzzled, I switch to 5 pip. 3 pip is more info but unreliable to read the overall direction from. At least, it can seduce me easily and take my pips. P.S. Good trading. :-) Best, Josh {image}
is better to switch from a chart to oneother to clearify the mind and the view.
But, except rare cases, i always entry on Renko 3, after seeing R5 and R10.
Green pips
- #9,437
- Edited 11:04am Nov 22, 2017 10:27am | Edited 11:04am
Ger30 +78 Saw this forming on the 10 pip as a "common pattern" 123, then looked to support the theory. Once at BE, went to walk the dog and came back to TP. Made me giggle a bit. Best, Josh {image}
Dax 30 +1 +50
{quote} Dame trade, with 2 different view and more 28 pips for you Josh!
Best, Josh
- #9,439
- Nov 22, 2017 4:04pm Nov 22, 2017 4:04pm
Nice trading matmomo
Question for you and Joshua... How would you define a 123? Until a new leg is formed breaking previous structure? Look at my attached image, light blue line.
As per your 123, there was another possibility right before yours. Green triangles for your reference. Why you didn't consider that?
As per entering at point 3, you never know is a 3 until 2 is broken. How do you aid this to enter on 3?
You find more helpful to embed Heiken Ashi to renko?
Best
Question for you and Joshua... How would you define a 123? Until a new leg is formed breaking previous structure? Look at my attached image, light blue line.
As per your 123, there was another possibility right before yours. Green triangles for your reference. Why you didn't consider that?
As per entering at point 3, you never know is a 3 until 2 is broken. How do you aid this to enter on 3?
You find more helpful to embed Heiken Ashi to renko?
Best
{quote} Same trade, with 2 different view and more 28 pips for you Josh!
Nice trading matmomo Question for you and Joshua... How would you define a 123? Until a new leg is formed breaking previous structure? Look at my attached image, light blue line. As per your 123, there was another possibility right before yours. Green triangles for your reference. Why you didn't consider that? As per entering at point 3, you never know is a 3 until 2 is broken. How do you aid this to enter on 3? You find more helpful to embed Heiken Ashi to renko? Best {quote} {image}
Your definition of 123 is correct and if you see 90% of my entry with 123 are @ breakout.
For help the explanation about your question i post here two chart: the Renko 3 and the Renko 5.
The breakout of your light blue line:
on Renko3 you'll note that the emas wasn't crossed downward and Stoch was yet @ the peak.
on Renko5 Price is between emas and over SR.
Other entry on green triangle:
on Renko3 you'll see the divergence.
on Renko5 Price is still between emas.
The white dot lines on two charts are at same points.
About Heiken Ashi brick helps but aren't essential. I use it only on renko 3 and 5. On renko10 not.
Ps: let me know if all is clear.
PPs: sorry guys if sometimes i made typing errors. (As BUD instead of BUT in last chert posted)
Best and green pips
