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

Two trades today. First trade a loss of -12 ticks, and the second trade a profit of +25 ticks. Two trades, so I am done for the day.

Here is the chart without the trades posted:



And here is the chart with the candles narrowed to make the trades somewhat readable:



And annotated with my own notes:

Cleaned up and clarified the notes and color-coded signals, red for short, green for longs.

2 easy trades today Eur and Gbp. Lately taking trades 6:45 to 7:15 my time have been pretty steady. So I'll enjoy it while it lasts. I've been sticking with 10 tick
Heiken/Range candles for now as I'm feeling a little lazy and that slows thing down. Done for the day

Is that 9:45 to 10:15 NYC time, rocky?

yep

This is how I view the whole day in the context of how I use the rocky template to trade the EURUSD:

I was at my desk early this morning, and though it is still before the start of my 8:00 AM trading window, I had to take this set up. The result is a one and done day for me with a profit of +25 ticks.

Here is the chart showing the trading platform plots of the entry and the target.



And here is my journal chart with notes and set up description:



Once I reach 6 contracts as my trading size, then any additional contracts as I size up would be held with a trailing stop and a profit target at the next lower pivotal point. In this case, I would have held additional contracts with a limit order at or very near last week's high.

Maybe interesting to know, not sure if the Monthly level is also significant for you. But the lower high (and also the double top formation), happened at/around the Previously Monthly high level

Stayed out of market today to flat.

Here are my end of day notes for yesterday's session.

After the early set up I took, there were two additional ema shorts. Had I not been done for the day, I'd have taken the first those, and that would likely have been a small loss or even a break even. Had I taken the second, which is doubtful (I'll explain in a moment) that would have been a loss, maybe for a full six pips, or -12 ticks.

However, price came with 1.5 pips of last week's high, so this was a breakout/pullback to a pivotal point set up. The first green signal is marked, and I think had I been trading at that point, I would have taken that one. That one owuld have been breakeven, with a second entry from a higher low after a two leg ABC pullback, Two chances to buy that set up are marked.

Overall, however, had it not been for that early set up, it would probably not have been a profitable day for me based on my plan.

I do not havwe the monthly levels marked, but any high or low on an institutional bar chart, i.e., M60, daily, weekly, monthly, quarterly, etc. is a significant level.

As a day trader, the daily and weekly pivotal points are sufficient for me, but I think adding the monthlies a good idea.

Red news out of the USA at 8:30 AM EST/EDT) this morning. I'll not trade until after the news and the smoke clears.

One and done again and very, very quickly lol.

Here is the chart. I'll post one with notes later.

Daily EURUSD solid breakout and looks to be moving to test those sellers who made all those tails above the market in April and May.

Got in a little over an hour after CPI news. Then let it run. Personally think the run on this news was bit overheated.

Lots of trading yesterday and a big steady uptrend. Plenty of profitable entries using little pullbacks t the ema's.

I try not to make such judgements. Looking at the daily, this has been very technical, in my opinion.

This is the September 2023 EURUSD contract (6E)



Here is the continuous chart. EURUSD has been in that trading range for 221 calendar days before yesterday's breakout. Moreover, the trading range irtself had something of a bullish bias, with higher highs and higher lows within it.



I think EU could continue its run and quickly get back to the $1.1500 level. As a day trader, this means I will not doubt trend days that go from the lower left to the upper right of the chart. If I were a swing trader, I'd be long the EU here, and if not long, I'd be waiting (hoping?) for a consolidation of pullback to get long. 7-7 was the bull flag breakout, and in hindsight that would have made for a most favorable long entry for a swing trade. If only I could make my hindsight machine work in foresight mode.

Price heading into the US PPI release is trending up and above ALL pivotal points.


If it were not for pending red news, I'd have taken that long where the yelllow cautionary elipse is shown:

I've been working on a version of the rocky method for swinging longer-term trends. Not for weeks and months, but for some of these moves that last 3 to 5 days.

I did well this week, but it is a bit of a torture watching price go and go and go after getting out with just a 12.5 pip profit. If you go back near the beginning of this thread, I Posted a long entry at the very start of this rally in the EURUSD. It is up nearly 400 pips since that June 30 long entry.

How much easier would this trading life be to just play for these multi-day swings instead of greinging out a wee little bit each and every day?

i have less time lately, but i found a bit time for today morning.
Important places- reaction - price structure- support from movings averages

@vidavad I think strategy is strategy. In a different period of time, the price would not be trending, then you would think why am I holding it for so long. Don't give up on the discipline you have. Possibly lead part of the position in long term.