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Renko Easy Patterns

  • #41
  • Aug 26, 2020 3:35pm Aug 26, 2020 3:35pm
Still searching, still tweaking still bleeding and surviving to fight another day.
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Let it turn and find your entry.
  • #42
  • Aug 26, 2020 4:29pm Aug 26, 2020 4:29pm
Quoting Intrepidpips
Still searching, still tweaking still bleeding and surviving to fight another day. {image} {image}
Surviving is the key but trading patterns is never easy.
  • #43
  • Aug 27, 2020 11:18am Aug 27, 2020 11:18am
Quoting Hutch
{quote} Surviving is the key but trading patterns is never easy.

Not so easy spotting them in real time, but when you start to spot them regularly in real time, you begin to accumulate.
Let it turn and find your entry.
  • #44
  • Apr 23, 2021 12:55pm Apr 23, 2021 12:55pm
I decided to dust up my Renko trading again after some time away, I added to my template and came up whit this.
Attached Image (click to enlarge)
Click to Enlarge Name: RNK TRD 01.png Size: 451 KB
Let it turn and find your entry.
  • #45
  • Apr 23, 2021 12:59pm Apr 23, 2021 12:59pm
I added Hutch's MACD settings as an additional filter and a simple Stochastic indicator.

Some days if you just followed the pullback/resumption brick in line with the higher brick chart, you'd be injury free.
Attached Image (click to enlarge)
Click to Enlarge Name: RNK TRD 02.png Size: 463 KB
Let it turn and find your entry.
  • #46
  • Apr 24, 2021 3:46am Apr 24, 2021 3:46am
The different sets of MACDs complement each other, anyone that gives the signal first is okay anyone can give divergence signal even the Stochastics.
The arrows are crossings of the Stochastics in O/B or O/S.

I had so liked the 10/2.5 combo because you trade with lower SL and you get multiple entries, but seems like the 5 bricks chart has better offerings than the 2.5.
Attached Image (click to enlarge)
Click to Enlarge Name: RNK TRD 03.png Size: 79 KB
Let it turn and find your entry.
  • #47
  • Edited 4:09am Apr 24, 2021 3:48am | Edited 4:09am
Quoting Intrepidpips
The different sets of MACDs complement each other, anyone that gives the signal first is okay anyone can give divergence signal even the Stochastics. The arrows are crossings of the Stochastics in O/B or O/S. I had so liked the 10/2.5 combo because you trade with lower SL and you get multiple entries, but seems like the 5 bricks chart has better offerings than the 2.5. {image}

A little breakdown of the 22nd chart.

The higher brick chart shows that the Bulls were in control till the 75% mark meaning every bullish signal till that time had a higher probability of winning. The beauty of the 5 minute chart is the MAs act as dynamic Support and Resistance so you could profit from temporary dips along the way, so perhaps a Fib extension would tell you where to get off the ride before buying resumes.
Attached Image (click to enlarge)
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You can see the dynamic support and resistance been highlighted by the MAs and how you are triggered short after price turned at the 75% mark by the Renko brick forming under the MAs and the top MACDs signaling a Short.
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Click to Enlarge Name: RNK TRD 04.png Size: 75 KB
Let it turn and find your entry.
  • #48
  • Apr 24, 2021 4:45am Apr 24, 2021 4:45am
Looks good
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RNK TRD 06.png Size: 79 KB
Click to Enlarge Name: RNK TRD 07.png Size: 73 KB
Let it turn and find your entry.
  • #49
  • Apr 24, 2021 5:04am Apr 24, 2021 5:04am
Quoting Intrepidpips
Looks good {image} {image}

Seems the patterns never stop showing up
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RNK TRD 08.png Size: 51 KB
Click to Enlarge Name: RNK TRD 09.png Size: 33 KB
Let it turn and find your entry.
  • #50
  • Apr 30, 2021 5:07am Apr 30, 2021 5:07am
Had a little slice out of a mighty large pie on the 2.5 bricks setup and I was pleased, would it always be as easy as this?
Attached Image (click to enlarge)
Click to Enlarge Name: RNK TRD 10.png Size: 107 KB
Let it turn and find your entry.
  • #51
  • Apr 30, 2021 5:10am Apr 30, 2021 5:10am
Quoting Intrepidpips
Had a little slice out of a mighty large pie on the 2.5 bricks setup and I was pleased, would it always be as easy as this? {image}
Alas no it was not sustained the following day.
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Had I waited and traded through the DD and the pain all the losses would have been recovered and then some on top of it.
Let it turn and find your entry.
  • #52
  • Apr 30, 2021 5:12am Apr 30, 2021 5:12am
Quoting Intrepidpips
{quote}
Had I waited and traded through the DD and the pain all the losses would have been recovered and then some on top of it.
After the choppiness came some structure
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Even today is a calmer day
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Click to Enlarge Name: RNK TRD 13.png Size: 79 KB
Let it turn and find your entry.
  • #53
  • Edited 5:34am Apr 30, 2021 5:23am | Edited 5:34am
Yesterday's whooping made me quit the 2.5 bricks setup completely and move to 5 pips brick once more, I now have to deal with a larger SL placement, fewer signals per session but it attracts a better win rate.
Attached Image (click to enlarge)
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You can see how that all those entries taken on 2.5 pips brick setup were within one single 5 pips brick.
Let it turn and find your entry.
  • #54
  • Apr 30, 2021 5:27am Apr 30, 2021 5:27am
I switched to GBPUSD and moved up to 5 pips brick size and recovered some, I wasn't trading optimally.

This morning I got to my charts late so the FO opportunities had eluded me but I still caught some pips
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #55
  • Apr 30, 2021 5:29am Apr 30, 2021 5:29am
I like it when I can get discounts, and the market gives discounts so I just cant trade Renko without wicks
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #56
  • Apr 30, 2021 5:50am Apr 30, 2021 5:50am
Some observations.

Seems when you are wrongly triggered you might just get an engulfing pinbar and get the opportunity to stop, reverse and win back some or all of what you lost
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #57
  • Apr 30, 2021 6:25am Apr 30, 2021 6:25am
Quoting Intrepidpips
Some observations. Seems when you are wrongly triggered you might just get an engulfing pinbar and get the opportunity to stop, reverse and win back some or all of what you lost {image}
These patterns just repeat themselves.
Attached Image (click to enlarge)
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Here the first engulfing pinbar came after the Bullish brick which btw was not supported by the MACD, giving room for recovery.
Let it turn and find your entry.
  • #58
  • Apr 30, 2021 9:06am Apr 30, 2021 9:06am
Discounts well scouted, poorly executed, awaiting next week's action.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #59
  • May 7, 2021 5:40am May 7, 2021 5:40am
Quoting Intrepidpips
Discounts well scouted, poorly executed, awaiting next week's action. {image} {image}
I missed the early moves but caught the discount the following day.
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The sweet thing about scouting and taking discounts is you can afford the smallest SL just in case the pullback becomes a reversal like this.
Attached Image

here you'd have lost 4 or 5 pips max and went long.
Let it turn and find your entry.
  • #60
  • May 7, 2021 5:46am May 7, 2021 5:46am
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The maxim is "Buy the Dips and Sell the Rallies" those are the opportunities for discount scouting.

My execution yesterday was poor
Let it turn and find your entry.
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