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rocky reboot: revisiting rockypoint's renko HA with ema method

  • #81
  • Jul 5, 2023 7:58pm Jul 5, 2023 7:58pm
Quoting Ed777
Hi Vidvad…….thank for your continuation of Rockys thread. Your dedication and commitment to your rules is inspiring. Feel the addition of 34 ema is a great addition to help avoid poor entries. I really like your addition of strategic pivots and your gameplan of strategically building position size. Enjoy your vacation with the family
Thanks Ed, one of these days ... weeks ... months ... years I'll get it right!
Life itself is a privilege, but to live life to the fullest is a choice
  • #82
  • Jul 6, 2023 3:15am Jul 6, 2023 3:15am
Vidvad! Why exactly are you using 34EMA and 8EMA? I often see 10, 16, 20, 24, 5, 100, 200. Or does it suit your goals by the method of selection according to the schedule? I really like the graphics and informativeness of your method.
  • #83
  • Jul 6, 2023 7:35am Jul 6, 2023 7:35am
Short sell would be at the close of the candle noted in the chart:

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Entry would be at or around 1.0911 and the profit target would be 1.08985. Stop loss 13 ticks, so this would be not quite the $2.08 reward to $1 rick. Adjustments must be made for the market.
Life itself is a privilege, but to live life to the fullest is a choice
  • #84
  • Jul 6, 2023 7:40am Jul 6, 2023 7:40am
Quoting vidvad
Short sell would be at the close of the candle noted in the chart: {image} Entry would be at or around 1.0911 and the profit target would be 1.08985. Stop loss 13 ticks, so this would be not quite the $2.08 reward to $1 rick. Adjustments must be made for the market.
+25 tick profit on this one was there for the taking.

I'd be happy to be done for the day and then come back and do it again tomorrow.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #85
  • Jul 6, 2023 8:01am Jul 6, 2023 8:01am
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Life itself is a privilege, but to live life to the fullest is a choice
  • #86
  • Jul 6, 2023 9:54am Jul 6, 2023 9:54am
I would have taken any of these trades today if I were still under two trades and under my daily profit target.

The shorts all reached my 12.5 pip profit target. The longs each would have resulted in no better than breakeven, and possibly losses of yup to 4.5 pips (9 ticks). I wasn't watching closely at the time of either and so I can't say for sure how I would have managed either trade.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #87
  • Jul 6, 2023 12:16pm Jul 6, 2023 12:16pm
Quoting BeeGold
Vidvad! Why exactly are you using 34EMA and 8EMA? I often see 10, 16, 20, 24, 5, 100, 200. Or does it suit your goals by the method of selection according to the schedule? I really like the graphics and informativeness of your method.
8 ema's are the original rocky ema's from @rockypoint's thread linked in the first post of this thread. A long, long .... very long time ago, I was working with the 34 ema bands as used by Rahgee Horner., who happens to be a commercial member of FF. She has a thread here:

Raghee Horner's 34EMA Wave & GRaB Candles | Forex Factory

I think I actually first learned of it from a thread here at FF call Sonic R System which I remeber being very popular many years ago. I found it here:

Sonic R. System | Forex Factory

Both "8" and "34" are Fibonacci numbers. But that has nothing to do with me picking them. Basically rocky picked the 8 ema. I had experience with the 34 ema so I dug it up and when I put them both on the chart, I liked what I saw.

Also, another good thread here at FF is Laura T's The Roadmap:

Roadmap - A Way To Read Markets | Forex Factory

She too uses the 8 ema high-Low and instead of the 34 ema High-Low, she applies the 200 SMA of the close as a trend filter.

There is no magic to the ema periods.

The real magic of the rocky template is, imo, the Renko bars with Heikin-Ashi applied. Add the important pivotal points to the way those candles present price action and that, imo, is where the magic happens for me.
Life itself is a privilege, but to live life to the fullest is a choice
  • #88
  • Jul 6, 2023 12:16pm Jul 6, 2023 12:16pm
Good trading day, stayed out of Eur/Usd, but had nice wins with Cad, Aud, Gbp and Nzd.
  • #89
  • Jul 6, 2023 12:30pm Jul 6, 2023 12:30pm
Quoting vidvad
{quote} 8 ema's are the original rocky ema's from @rockypoint's thread linked in the first post of this thread. A long, long .... very long time ago, I was working with the 34 ema bands as used by Rahgee Horner., who happens to be a commercial member of FF. She has a thread here: Raghee Horner's 34EMA Wave & GRaB Candles | Forex Factory I think I actually first learned of it from a thread here at FF call Sonic R System which I remeber being very popular...
LauraT also suggested a 51 ema if it helped, I beleive.
Mark ... Everything you have been told is a LIE
  • #90
  • Jul 6, 2023 12:30pm Jul 6, 2023 12:30pm
Quoting rockypoint
Good trading day, stayed out of Eur/Usd, but had nice wins with Cad, Aud, Gbp and Nzd.
Hi rocky! Someday I'll add back some other instruments. For now, I'm focusing all my attention on the EUR/USD. Thankfully, your method works with any market that is worth trading.
Life itself is a privilege, but to live life to the fullest is a choice
  • #91
  • Jul 6, 2023 12:38pm Jul 6, 2023 12:38pm
Quoting vidvad
{quote} 8 эма – это исходные EMA Rocky из треда @rockypoint, ссылка на который приведена в первом сообщении этого треда. Давным-давно......
Thank you for such a comprehensive answer! Everything becomes more understandable and clear.
  • #92
  • Jul 6, 2023 1:31pm Jul 6, 2023 1:31pm
Quoting spzd
{quote} LauraT also suggested a 51 ema if it helped, I beleive.
Laura adapted Horners ema's to 8
every Saint has a past. Every Sinner has a Future
  • #93
  • Jul 6, 2023 1:44pm Jul 6, 2023 1:44pm
Quoting turnip15
{quote} Laura adapted Horners ema's to 8
I'm the least original trader in the world. Everything on my chart came from or was adapted from someone else.

"To steal an idea from one person is plagiarism. To steal from many is research." - attributed to many and I'm not sure who said it first. But I promise that it wasn't me.
Life itself is a privilege, but to live life to the fullest is a choice
  • #94
  • Jul 7, 2023 4:44am Jul 7, 2023 4:44am
Quoting vidvad
{quote} I'm the least original trader in the world. Everything on my chart came from or was adapted from someone else. "To steal an idea from one person is plagiarism. To steal from many is research." - attributed to many and I'm not sure who said it first. But I promise that it wasn't me.
As Oscar Wilde once said, " I wish I'd said that."
every Saint has a past. Every Sinner has a Future
  • #95
  • Jul 7, 2023 4:59am Jul 7, 2023 4:59am
I was very patient, i was waiting for price will slowly. Good support for high TF and price show me right pulse and constructions.

not every cross moving average , it's good for entry. If that were the case, my father was earning money after drinking 4 beers.
You look second screen without trade. Short impulse is dominant and strong. Long impulse is a shorter, its consolidation is not broken out. Additionally , there is not important place here. There is no option to open here long trade.
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  • #96
  • Jul 7, 2023 5:47am Jul 7, 2023 5:47am
Nice reaction for Pivot. GBPUSD was better, zone pivot and open price give good movment.
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  • #97
  • Jul 7, 2023 8:27am Jul 7, 2023 8:27am
A lesson I got from Too Slow's threads on highest/lowest open trading: When price breaks out above yesterday's high or below yesterday's low and stays there, that is a breakout! I respect the breakout until it fails. Therefore, Iwould look only to take long trades here unless and until price is back below yesterday's low, or price gives a double top.

Right now, it is a trading range above yesterday's high. Long scalps or sit on hands.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #98
  • Jul 7, 2023 8:32am Jul 7, 2023 8:32am
Potential for aa micro double top at the far right edge, but a short trigger would drop you right into yesterday's high again. A better short would be to wait for price to close two consecutive bear candles BELOW yesterday's high.

Conversely, a break above the double top would be solid long signal.

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  • #99
  • Jul 7, 2023 1:23pm Jul 7, 2023 1:23pm
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simple trading day.
  • #100
  • Jul 7, 2023 8:36pm Jul 7, 2023 8:36pm
The EURUSD today as I see it. The red highlighted areas are all long entries. As price was above yesterday's high, we were in breakout mode, so long trades only. Only had price either 1) close back below yesterday's high, or 2) reached and failed to breakout above last week's high would short sales have been reasonable, imo.

(background is a little different because this is the chart I print out and insert in my trading journal. I don't want to use up all the color ink on one chart lol)

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Life itself is a privilege, but to live life to the fullest is a choice
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