DOW - PA, Stops and hedging

gone long
taking profits faster
waiting for market to declare its larger move

I am concerned that the lower fib channel has not been reached yet

a bit of find ad catch PA
over 30 trades during the US session, good points but choppy
break 4 me

Market is waiting for the FOMC minutes
President will speak in Miami
Heard on market related news that US indices are climbing the wall of fear, add to it the 3rd Fri of the moth, and mixed MTF's signals made the US session very choppy. During such market's conditions I take profits fast, grab what I can and keep quiet about it.

Here it is
closed longs above 415, mS1

news release so so, flat for time being

gone for the gap close

closing longs just above the last session close
interesting session so far

I am done for the day
Might not trade tomorrow and certainly not on Friday, some other things to do.

DOW renko 250 along DOW M5
DOW Renko 150 bottom DOW M1
I use different computers to display these3 two renko charts as I do not want the data transfer confusion between the M1 chart with the EA and the of line dow chart M2
As it can be seen that same MA5 channel ZZ semafor ect

what settings do you use for renko?

150 (each brick is 15 points) and 250 (each brick is 25 points), try different like 100. 200 and so on
I always use renko alongside other tfs, for intraday, scalping
always look at the intermarket situation, though one needs common sense, experience and some understanding of how different components relate to one on other. there is never a perfect fit, DOW , S&P and NASDAQ are similar but each have its particular character derived from their constituents, and differed numbers of them

DOW Daily


DOW H4

https://www.forexfactory.com/attachm...l?d=1693472539

Notice the high volume (both accumulated volume and volume on each bar compared to the average of the last five sessions) of the last two US sessions


DOW MTFs, Stochs displayed a downwards bias, H4 bounced from 50


I posted the renko charts specifically for one of my friends, I do not usually post them as it might add to the confusion.
I use large monitors and the renko charts are displayed along other multiple charts.
On elasticity thread gold traders have been using renko, so I just chipped in on renko too.
By the way, that mentioned thread examines the strategy utilising MTFs in relation to Stochastics, a very useful and profitable approach.

are those volumes that you use the actual futures volumes ?
I use tradingview to get the futures volumes but those are on 15minute delay

on MT4 is only tick volume, an imaginary volume not from CME, Protrealtime have volume linked to CME, so they say, which is not very correct IMHO
The question of volume is a very complex question, eg, how can there be volume when CME is closed, like during President's day, or outside the NYSE session (for a while as they are moving from NY to Dallas, for obvious reasons) . The real volume, if it was at all possible would be and is a very closely guarded secret. The volume is the other side of PA, and greatly important in working out the current sentiment in relation to the given security.
There has been a lot said, written and posted on this subject.
The real volume cannot be as precise as 100 years ago, tape machine, which has been very expensive and selective small number had access to it.
Check Reuters terminal costs, and Bloomberg Terminal costs, even if a retail trader had access to them, one would need a powerful computer with constantly updating AI to make any sense of it. By the time the data gets to your screen, frontloading already has happened, and that before one can see or read it.
At times I have had access to the market flow of the ES contracts, even a live squawk, believe me it is fast , thousands of contracts going both ways, both ways from that same institutions, it is crazy, normal retail trader would be totally confused, no time to put a trade as the large numbers flash in front of your eyes.
There are T1, T2 and T3 arrangements, dark pools, and the whole futures arrangements.
COT also come well delayed, that data is so important for the futures.

Arbitration vary from platform to platform, so compare it at least with the live ticker, If rice levels are different, what precision of volume one can expect, volume by the way also provided by the given platform provided. But not everything s lost, I treat as indication of volatility for the given index, with experience and common sense even that approximation can be of limited utility v a definite volume, unachievable, and even if t wold be achievable, one would need a mega account to pay for the terminals and the ways to interpret the data stream to be useful for trading at the moment the data is transmitted. Read a book about the HFT boys and you might have some idea, and that is already the old story.
In short, we got what we got, not a perfect tool, with approximate precision at the best.
So lets make the best using this imprecise tools, by well imprecise traders for whom to a degree the important details are almost all time illusive.
Grab what is available and what the market offers.




Have a look at the link below. a possible site to have some idea
https://finviz.com/map.ashx

good stable move to the last session close from the session high , during the initial stages of the session after the open


Fib Ret 50% has been achieved, a kind of minimum, it remains to be seen if that Fib zone will act as R?

brick is 25 points on renko, 4 bricks represent 100 points

I also use 15 points bricks on another computer

Please check earning season, NVIDIA AMC tomorrow

DOW session candle bars on higher volume


Ready for tomorrow

my SL is set to above two bricks, that is if trade is taken using renko entry
I only trade DOW, one of my renko brick is set up to 25 points, so SL is usually between 60 - 70 points
I also use MA5 channel in accord with 5.3.3 stochs
when I see PA struggling I do not hastate to take smaller loss or a smaller profits, I can always re-enter the trade
When I am tempted to chase the market or enter the trade late on the intra day trend than I have to be particularly careful, Tom DeMark has done some great work on the possible length of the given move, studied it long ago (around 2008 -2009), his approach was to count the bars, forming fractals of various degrees,and in relation to these fractals, it is interesting but a bit complicated, like the issue of the recycling and what I would name an overspill - bars above the number of the initial 9 bars, if I remember correctly, Jason Perl book "DeMark indicators" described them well. TD Count is based on fractals, T DeMark worked on fractals and symmetrical moves.
If interested in that, just get that book, even Tom DeMark said that Jsaon Perl explains it well, probably better that he would have done it himself. If in doubt get T Demark books, worth studying too.
https://www.amazon.co.uk/stores/Jaso...alEnabled=true
The best guide to differentiating between trading ranges and trend exhaustion - short description of Jason's book

Before you are tempted to try TDcount, please do some studies and preferably read Jason's book, under 200 pages only.
Those that do not wish to study would complain that the counts "repaint", on the historical chart we can only see the completed counts, however, the counts that have started, but did not get to 9 bars are not there, so one knows that when the count stops, something has not happened/ or is not happening and it is time to get out!
Have a look at the link below
https://www.earnforex.com/metatrader...tial-Ultimate/

renko entries are supported by the very important foundational work, MTs as intermarket analysis, Fibs, pivots ect

DOW moves fast, 9 bricks is over 200 points, worth considering
9 bricks of 15 points are great too for intra day rotations, PBs, usually well pointed by Stochs and eventually MA5 channel

renko entries are supported by the very important foundational work, MTs as intermarket analysis, Fibs, pivots ect

DOW Chart Brick set to 25 points




DOW chart Brick set to 15 points

Bill Willliams like T DeMark also worked with fractals and came with Angulation principle
In odder to be able to explore angulation principle I have retained the Alligators Jaw
On Page 1 I will post some more info on that, thought I have pointed to the angulation, but I cannot find it there.
It is all about exploring trading ranges v trend exhaustion

Renko displays better/clearer guidance regarding these short term intraday trends and trends exhaustions
Compare the charts below