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Renko line in the sand

  • #121
  • Nov 21, 2017 3:22am Nov 21, 2017 3:22am
WHAT A DAY!!!!!!!!!!!!!

Trading emotionally, cherry picking my entries missing out on the recovery chances, moving my SL.

Done for today, I live to fight another day.
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Let it turn and find your entry.
  • #122
  • Nov 21, 2017 3:24am Nov 21, 2017 3:24am
I think I will use this henceforth as the market is neutral to my entries, I have got to increase my ammunition.
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Let it turn and find your entry.
  • #123
  • Nov 21, 2017 4:33am Nov 21, 2017 4:33am
This will definitely help with trade direction.
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Let it turn and find your entry.
  • #124
  • Nov 23, 2017 6:13am Nov 23, 2017 6:13am
The higher brick chart MA trend has been perfectly curve-fitted and now trend direction in the lower brick chart is never in doubt.
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Let it turn and find your entry.
  • #125
  • Nov 23, 2017 9:18am Nov 23, 2017 9:18am
Quoting Intrepidpips
I have been trading with Renko for a while now and have seen good days and bad days, caught some tops and some bottoms, blown one account, survived 2 margin calls in 24 hours (yesterday) I've been cautious and been spontaneous, but I'm still hanging on. I have gathered a few tactics in trading the Renko and have not had the discipline to stick with one. I am starting this thread to outline how I intend to trade my favorite setup, the "LINE IN THE SAND" This is more like a journal and discussion thread so feel free to weigh in. (Objective BS welcome)...
Hi IntrepidPips,
i'm a renko trader too, and i'm using Dee50 method with SR, Divergence, 123 and so on.
Happy to find this thread
  • #126
  • Nov 24, 2017 1:07am Nov 24, 2017 1:07am
Quoting matmomo
{quote} Hi IntrepidPips, i'm a renko trader too, and i'm using Dee50 method with SR, Divergence, 123 and so on. Happy to find this thread
Thanks for dropping by, I see you are very consistent on the Impossible thread
Let it turn and find your entry.
  • #127
  • Nov 24, 2017 1:20am Nov 24, 2017 1:20am
It's a pity I missed my entry this morning and I simply watched the market do it's thing.

I have stripped the higher brick chart leaving it with only the 2LWMA weighted ave price shift 4, ordinarily the 2 consecutive brick rule would have obviated it but for the market ranging period to know the dominant power whether Bulls or Bears.

I have also settled for the 10/2 bricks combo as that presents more entry and re entry opportunities, the second opportunity today produced a low R:R
What remains is for me to commit to my targets as I am to my SLs because I wait for my SL to be hit I even move my SL higher so why not do the same with my targets?
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Let it turn and find your entry.
  • #128
  • Nov 24, 2017 1:31am Nov 24, 2017 1:31am
Quoting Intrepidpips
{quote} Thanks for dropping by, I see you are very consistent on the Impossible thread
Thank you Intrepidpips,
very interesting your method.
  • #129
  • Nov 24, 2017 4:29am Nov 24, 2017 4:29am
I thought again about the higher brick chart and decided to leave the MACD on as it helps spot divergence which can help to side step the 2 consecutive bricks rule.
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Let it turn and find your entry.
  • #130
  • Nov 24, 2017 5:06am Nov 24, 2017 5:06am
Missed 2 shorting opportunities and the third hit my SL
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Let it turn and find your entry.
  • #131
  • Nov 24, 2017 6:21am Nov 24, 2017 6:21am
I couldn't find a suitable entry in the 20 bricks chart so I moved up to 25 bricks where I saw a double bottom divergence and took it.
The lower the brick size,the lower your SL and the more opportunities for early entries, just have to look closer.
I stopped short of my target as I thought price might turn again at the last high, squandered the next opportunity because I didn't want to loose plainly.
I feel so
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Let it turn and find your entry.
  • #132
  • Nov 24, 2017 6:32am Nov 24, 2017 6:32am
I am amazed at Mr Fibonacci

A look at the original move up and the 1st dip.
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Let it turn and find your entry.
  • #133
  • Nov 24, 2017 8:32am Nov 24, 2017 8:32am
I suppose drawing the targets early and correctly helps clarify the process.
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Let it turn and find your entry.
  • #134
  • Nov 24, 2017 8:54am Nov 24, 2017 8:54am
Quoting Intrepidpips
I couldn't find a suitable entry in the 20 bricks chart so I moved up to 25 bricks where I saw a double bottom divergence and took it. The lower the brick size,the lower your SL and the more opportunities for early entries, just have to look closer. I stopped short of my target as I thought price might turn again at the last high, squandered the next opportunity because I didn't want to loose plainly. I feel so {image} {image}
Hi couldn't help but put my 2 cents in reading your coments, I have a really simple trick in predicting reversal. A algorithm which is hidden in all oscillators - Divergence project the next trend break / reversal. Hope it helps.
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  • #135
  • Edited 9:38am Nov 24, 2017 9:14am | Edited 9:38am
Quoting vdubus
{quote} Hi couldn't help but put my 2 cents in reading your coments, I have a really simple trick in predicting reversal. A algorithm which is hidden in all oscillators - Divergence project the next trend break / reversal. Hope it helps. {image}
Yes it does, I'd practice it, thanks so much.

I think the trend line breaks on the oscillators in the direction of the chart trend would be more reliable hope I got this right?
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Let it turn and find your entry.
  • #136
  • Nov 24, 2017 10:04am Nov 24, 2017 10:04am
I was questioning my GBPUSD loyalty so I turned to the ADR ATR indicator to see if I could take a cue from the highlighted pairs, I found GBPJPY leading the pack and EURAUD following since it had a lower spread, I decided to look at it even hazard a trade in it's over extended state.
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Let it turn and find your entry.
  • #137
  • Nov 24, 2017 10:13am Nov 24, 2017 10:13am
Quoting vdubus
{quote} Hi couldn't help but put my 2 cents in reading your coments, I have a really simple trick in predicting reversal. A algorithm which is hidden in all oscillators - Divergence project the next trend break / reversal. Hope it helps. {image}
Your Pivot Channel signals are very reliable when they appear in real time in the direction of the trend I use the 16 period as setting of choice.
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #138
  • Edited 11:29am Nov 24, 2017 10:36am | Edited 11:29am
Quoting Intrepidpips
I couldn't find a suitable entry in the 20 bricks chart so I moved up to 25 bricks where I saw a double bottom divergence and took it. The lower the brick size,the lower your SL and the more opportunities for early entries, just have to look closer. I stopped short of my target as I thought price might turn again at the last high, squandered the next opportunity because I didn't want to loose plainly. I feel so {image} {image}
Can imagine how you feel, but was a good trade with a good entry. Green pips banked. that's important.
  • #139
  • Nov 24, 2017 10:47am Nov 24, 2017 10:47am
Quoting Intrepidpips
{quote} Yes it does, I'd practice it, thanks so much. I think the trend line breaks on the oscillators in the direction of the chart trend would be more reliable hope I got this right? {image}
Oscillator's trendline breakout is a powerfull tool.
I use it often but with other signals.
In the chart Oscillator break + Divergence + Big Round Number rejection + Fibo's retracement 38.2.
Attached Image (click to enlarge)
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  • #140
  • Nov 24, 2017 12:09pm Nov 24, 2017 12:09pm
Quoting matmomo
{quote} Oscillator's trendline breakout is a powerfull tool. I use it often but with other signals. In the chart Oscillator break + Divergence + Big Round Number rejection + Fibo's retracement 38.2. {image}
Very clear breakout, thanks for sharing.
Let it turn and find your entry.
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