Renko Trading (Price Action)

This thread is for Multiple Renko Box Price Action Analysis.


If anyone is interested in trading Renko and conducting a comprehensive analysis on multiple Renko Box size, then please participate in the thread.
Do not be shy of sharing your analysis.
I funded a small trading account linked to my Trade Explorer to show everyone how trading decisions are made and was hoping for more interaction by showing real live trades and not only posting analysis or potential setups.

Or at least vote in the Poll, so I can know if anyone is interested or not.

Thanks

USDCHF

I had pending orders for going long since yesterday. I will watch how PA devlops to decide on leaving the pending order or not.

80 pip box size renko:



40 Pip Box Size Renko:

10 Pip Box Size Renko:



EDIT:
Deleted the Pending Order

following I trade something similar but time based Renko.
I use multi time frame Renko with ATR 14 Settings. The bricks are dependant on close price. They are not tick charts

Following

EURGBP: Two sell pending orders.

EURGBP 160 pips
The pair is in a big range.


80 pips:


20 pip:

NZDJPY: Went Long

Entry was at 40 pips Renko. Less than that, it gets choppy.

160 Pip

40 pip

AUDCAD: Went Long

160 Pip:

40 Pip:

20Pip:



Targets and stop losses may change in the future.

AUDCAD 10 Pip

AUDCHF - Pending order to go long

80 pips:

20 Pips:

AUDUSD

Looking for more clues in 10 pip
40 Pip:
Initially, I was wary of a potential H&S but the price so far has bounced from support. It may end up as a retest to the H&S.

10 Pip:
Waiting for a pull back in 10 pip or 5 pip to find out the bias.

AUDJPY:

In 80 pip we see a relatively small range so the target would be the top of the range.


In 10 pip/5 pip, I will wait for a good pull back if it happens.

10 Pip:

EURNZD:


Watching the pair to see if bullishness would continue

40 pip:

10 pip:

AUDCAD performed very well.

AUDCAD 20 PIP

AUDCAD 10 pip (Entry)

understanding renko

current renko daily chart

Hi JungleLion,

The first picture is a nice one as long as it is in the same direction as the second one. So basically look for PA on Daily and then trade on a consolidation/range breakout/pull back on the H1 one.

So from the two pictures you have attached, we see that the pair is approaching Daily support (the second pic) and hence we can look for buys when in H1 when we see a green brick in Daily at the support level. So Daily prints a green brick first (at the support not far away from it) and then trade a price pattern breakout in H1.

An aggressive approach is not to wait for a new Daily green brick on the support level and a trade pattern breakout in H1. It is aggressive because the price may want to go south and also stop losses are prefered to be larger (below the pattern forming in H1).

Nevertheless, money management is as important as the setup itself.

This is the general idea. I hope it makes sense.

Are you able to upload the indicator that generates this type of chart?

AUDCHF hit the target (check the trading explorer)..
20 pip


10 pip

CADJPY : Short trade's stop loss was hit by few pips.

The analysis was right. In 80-pip, the price is in a very tight range.

In 10-pip, price broke below Support. Stop-loss was hit by few pips.

80 pip:

10 pip

EURGBP Went Long:

Based on 30 pip and 15 pip for entry.

30 pip

15 pip (Price respected support level so far)

AUDUSD: About to close it

The reason for entry was a bounce from a support at the 40 pip level

40 Pip

Then we had a good breakout of a 10 pip consolidation

I am wary of the falling trend line in 40 pips so I may close the trade.

EURUSD ...
20 pips Men Renco ... Waiting for the signs of Rejection at this level ...