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  • #9,441
  • Nov 22, 2017 10:24pm Nov 22, 2017 10:24pm
Quoting cfabian
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}
Hey Cfabian.
For this trade, my decision was made on the 10 pip chart with the entry taken on the 5 pip. The pattern that was formed here is very repetitive, you can see this if you just go back in your chart. After seeing this on 10, went to 5 to confirm and find an entry.
At first, i was looking at this and posted here that it looked like a Divergence back into trend for a long. Then it halted at the trendline, that got me to pay more attention to the 10 pip MACD, dropping below 0 and retesting it.
So how do we know if something is a 123 or not? When I see a potential trade, i build two scenarios in my mind and then a case for each...then pick the most likely one. If i think there is a strong case for one scenario, i take the trade. If its 50/50, i pass the trade but take screenshots of the situation so i can study afterwards and see if i missed something. I hope this answers your question.
Best, Josh
  • #9,442
  • Nov 23, 2017 4:36am Nov 23, 2017 4:36am
Hi all, I would like to make you a question about EMAs.
Understanding that they are effective as S&R when we know that everybody are watching at the same EMAs (50,200 on m15, H1, H4) for intraday trading, about an EMA 200/50 on Renko bricks of different size, do you think that they have the same strength like the other ones that people watch over m15,H1,H4 charts?

I have just recently made a backtesting of Renko 10 bricks and I have only checked succesfully two EMAs 4 and 50 but for a different purpose of identifying market trend before opening a trade, and too to avoid some sideways market situation. But not like S&R.

I am fan of Guppy EMAS but for other kind of trading which has lag obviously, but with it there is some ("real"?) S&Rs.

Thank you for the trades you share, for your explanation, for your time. Thank you!
Fran
  • #9,443
  • Nov 23, 2017 5:13am Nov 23, 2017 5:13am
Quoting francisquito
Hi all, I would like to make you a question about EMAs. Understanding that they are effective as S&R when we know that everybody are watching at the same EMAs (50,200 on m15, H1, H4) for intraday trading, about an EMA 200/50 on Renko bricks of different size, do you think that they have the same strength like the other ones that people watch over m15,H1,H4 charts? I have just recently made a backtesting of Renko 10 bricks and I have only checked succesfully two EMAs 4 and 50 but for a different purpose of identifying market trend before opening...
Hi. In my view there is no magical EMAs that will always curb the PA to the dot. Same as with regular SR, its not a line in the sand but more of a zone.You can experiment with this, how does 50ema work compared to 55 or 60, try linear weight, candle/meanrenko/rangebar etc but in my view its a give and take game. I use the EMAs as guidelines, or once price hits them for me its an area of interest to use with the rest of my analysis. No more no less.
Thats my 2 cents. :-)

Best, Josh
  • #9,444
  • Edited 5:46am Nov 23, 2017 5:31am | Edited 5:46am
Good morning guys,

Dax 30 + 40

Renko3: classical Triangle breakout + 123 reversal + in according with Stoch & MACD on Renko3 and Renko5.
When we have triangle breakout or trendline breakout we could enter 1 - 2 brik before than 123 breakout.
Exit: @ first bounce from ema 50.

Renko3: after 3 trade stopped @be+1, when price retested lower trendline and bounced off it and BRN, i jumped in after Ross Hook green candle.
Manual exit @ Renko10 ema 200 + price was between 161 and 200 fibo's and BRN. I leave 20 pips on the table, but 40 pips are enought for me in this trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Triangle breakout.png Size: 54 KB
Click to Enlarge Name: trendline support +40.png Size: 72 KB
  • #9,445
  • Nov 23, 2017 5:37am Nov 23, 2017 5:37am
Quoting francisquito
Hi all, I would like to make you a question about EMAs. Understanding that they are effective as S&R when we know that everybody are watching at the same EMAs (50,200 on m15, H1, H4) for intraday trading, about an EMA 200/50 on Renko bricks of different size, do you think that they have the same strength like the other ones that people watch over m15,H1,H4 charts? I have just recently made a backtesting of Renko 10 bricks and I have only checked succesfully two EMAs 4 and 50 but for a different purpose of identifying market trend before opening...
Hi Fran,
I quote totally what Josh said.

I used the same emas on every renko charts. But as confirmation or guidelines (remember the yesterday chart?).
All the best
  • #9,446
  • Nov 23, 2017 5:40am Nov 23, 2017 5:40am
Guys low volatility expected in 1,30 hrs cause Us bank holiday.
So we could go all to the pub
  • #9,447
  • Nov 24, 2017 6:58am Nov 24, 2017 6:58am
Hi to all guys,

First two hours on the market was aa difficult scalp field with price going up and down in a 20 pips range.
Then it decided thats was the time to do its work.

Dax 15 + 60

Renko3 : first trade was taken after a triangle breakout and a 123 pattern formation.
The pull ack coincide with the point 3. Entry @ 123 breakout.
TP @ BRN + 161 fibos extension + 50% retracement of yesterday move. +15

Renko3 : After the first trade the price retrace to the emas and 38% fibo's retracement of last long.
Then bounce off and breakout of trendline for the entry.
Manual exit @ BRN + 200 fibos extension and because 60 pips are enough. (Sorry Fibos isn't shown). +60
Attached Image (click to enlarge)
Click to Enlarge Name: de-30-x-trade-brokers 15 + 60.png Size: 93 KB
  • #9,448
  • Nov 24, 2017 8:15am Nov 24, 2017 8:15am
Quoting matmomo
Hi to all guys, First two hours on the market was aa difficult scalp field with price going up and down in a 20 pips range. Then it decided thats was the time to do its work. Dax 15 + 60 Renko3 : first trade was taken after a triangle breakout and a 123 pattern formation. The pull ack coincide with the point 3. Entry @ 123 breakout. TP @ BRN + 161 fibos extension + 50% retracement of yesterday move. +15 Renko3 : After the first trade the price retrace to the emas and 38% fibo's retracement of last long. Then bounce off and breakout of trendline...
Well done. The day started slow so I decided to help a friend pick olives. Not done. Have a great weekend folks.
Best Josh
  • #9,449
  • Nov 24, 2017 1:07pm Nov 24, 2017 1:07pm
Last trade of the day,
a counter trend trade. For this kind of trade use EVER tight SL or ready to manually close and quicly BE.

Dax: +17

Entry counter trend, with Fibo's retracement + Div + BRN + Oscillator Trendline Breakout. Quick Be +1
Manual exit @ Ema50.

Have a nice weekend guys

All the best.
Attached Image (click to enlarge)
Click to Enlarge Name: oscillator trendline breakout.png Size: 56 KB
  • #9,450
  • Nov 24, 2017 1:09pm Nov 24, 2017 1:09pm
Quoting JoshuaHope
{quote} Well done. The day started slow so I decided to help a friend pick olives. Not done. Have a great weekend folks. Best Josh
Nice olive picking, tiring but fun!
Have a nice weekend you too Josh.
  • #9,451
  • Nov 25, 2017 9:49am Nov 25, 2017 9:49am
I've been reading through this thread and wow, renko makes a lot of sense to me. should be a lot more popular. really looking forward to doing some backtesting with it

Is there a more updated way to get renko on my charts because i can't quite get it with the old ea?
  • #9,452
  • Nov 26, 2017 5:09am Nov 26, 2017 5:09am
Quoting sorostrustfu
I've been reading through this thread and wow, renko makes a lot of sense to me. should be a lot more popular. really looking forward to doing some backtesting with it Is there a more updated way to get renko on my charts because i can't quite get it with the old ea?
https://www.forexfactory.com/showthr...8#post10482858
Cut your Losers short and let your Winners run.
  • #9,453
  • Nov 26, 2017 5:15am Nov 26, 2017 5:15am
Quoting matmomo
{quote} Nice olive picking, tiring but fun! Have a nice weekend you too Josh.
HahHah. Never thought of Olive picking as fun, after the 50th tree the amousement tends to wain, after the 500th it is definitely no longer entertaining and after the 1000th you never want to see an olive again and at 0.40 cents/kilo you have to wonder if it is worth it!
Cut your Losers short and let your Winners run.
  • #9,454
  • Nov 26, 2017 5:27am Nov 26, 2017 5:27am
Quoting dee50
{quote} HahHah. Never thought of Olive picking as fun, after the 50th tree the amousement tends to wain, after the 500th it is definitely no longer entertaining and after the 1000th you never want to see an olive again and at 0.40 cents/kilo you have to wonder if it is worth it!
ahahah you're right Dee, my experience is 50 plants, and party in the evening with grilled meat and wine.
So when i read Josh i thought something like that.
If not it's obviously a different scenario ...
  • #9,455
  • Nov 26, 2017 5:42am Nov 26, 2017 5:42am
Quoting matmomo
Last trade of the day, a counter trend trade. For this kind of trade use EVER tight SL or ready to manually close and quicly BE. Dax: +17 Entry counter trend, with Fibo's retracement + Div + BRN + Oscillator Trendline Breakout. Quick Be +1 Manual exit @ Ema50. Have a nice weekend guys All the best. {image}
I have to applaud your trading,
Attached File(s)
File Type: mp3 applause-01.mp3   219 KB | 303 downloads
Cut your Losers short and let your Winners run.
  • #9,456
  • Nov 26, 2017 5:59am Nov 26, 2017 5:59am
Quoting dee50
{quote} I have to applaud your trading, {file}
Dee your words are the best compliment i can receive.
Thanks for all.
  • #9,457
  • Nov 26, 2017 6:06am Nov 26, 2017 6:06am
Quoting francisquito
Hi all, I would like to make you a question about EMAs. Understanding that they are effective as S&R when we know that everybody are watching at the same EMAs (50,200 on m15, H1, H4) for intraday trading, about an EMA 200/50 on Renko bricks of different size, do you think that they have the same strength like the other ones that people watch over m15,H1,H4 charts?
The answer to your question is simple. Look at the 200 EMA on a 5 Renko chart, sometimes it is in a similar position as the 50 EMA on Std 1Hr chart, the key word here is "Sometimes". The 50 EMA on a 5 Renko is "sometimes" in a similar position as the 20 EMA on the 1 Hr.
As Matmomo and Joshua and you have intimated, the MAs on a Renko or indeed any other offline chart should only be used as an indication that something might happen in that zone.
I started using the 1Hr chart in place of the 10 Renko, so that I could see what the rest of the market was seeing because I realised that I was cutting myself off from the rest of the market participants by only referring to the 5 and 10 Renko charts.
So in answer to your question. No the EMAs do not have the same strength as those on the Std Time Frame Charts, However, they do for me at least, play an important role in my decision making process because they are part of the Wash, Rinse, Repeat Patterns that I use in my trading.
Cut your Losers short and let your Winners run.
  • #9,458
  • Nov 26, 2017 8:14am Nov 26, 2017 8:14am
Quoting dee50
{quote} HahHah. Never thought of Olive picking as fun, after the 50th tree the amousement tends to wain, after the 500th it is definitely no longer entertaining and after the 1000th you never want to see an olive again and at 0.40 cents/kilo you have to wonder if it is worth it!
It was alright. I helped out a friend, but he will convert everything into olive oil, should be 7kg/L or so. We only did maybe 30 trees which is a piece of cake and about 50 kg per tree. But all manual, no shakers. Wouldn't want to do it every day though. :-)
Best, Josh
  • #9,459
  • Nov 27, 2017 2:33am Nov 27, 2017 2:33am
I love how the thread started out simple and the OP said: Just look at the chart.
And "you can add oscillators, indicators... for lose money"

And now this thread has evolved to people posting complicated charts with indicators on them again. Lol
  • #9,460
  • Nov 27, 2017 3:28am Nov 27, 2017 3:28am
Good morning guys.

How to leave on the table 100 pips. Lession 1

Dax Renko5: broadening formation low trendline + Div + BRN + 61.8 Fibos.
What you want more stupid guy?
stopped @ be + 1.
Attached Image (click to enlarge)
Click to Enlarge Name: broadening formation.png Size: 73 KB
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