D1 Elasticity Pullback Trading

single trade today on the turtle after that nice wick

Renko its not popular among traders. I could never understand why. Its has an umbeatable accuracy

Price action, level, time, stochs...first trade of the week.

A year and 3623 replies late to this thread but a very nice home you have for yourselves here
I to trade Renko ( 3 pip mean ) on currencies, both intraday and little bit of scalping. Wicks are a good indicator for entries, but like all trading, it’s the exits that make or break. I find it difficult to help time the exit with renko when scalping. Reversals on the position can really eat into the return by the time the brick prints.
The never ending internal struggle between fear and greed

50% fib retracement with an engulf Dbottom brick. Notice stops were taken and after brick was created. Good sign of bear weakness

Rejection at Magic number

Hi Ghbdr, hope you're well
Stepped away from the thread for a while to try and amalgamate everything I had learned from everywhere into a strategy

Something a little different... I wondered if instead of people asking you about your approach for a change, if you could give me a few lines on mine on what you would maybe add or subtract

Essentially I plot levels from the 4hr candle closes, I have one indicator which is the ATR. If price breaches the ATR in an strong way...I set a limit order and look to profit on the market running out of steam / profit taking. I use an inverse risk to reward usually 1:0.6

It is working and has a high hit rate, I have landed on this through alot of journalling and reviewing

Would you overlay your use of Stochs into this approach so I could effectively qualify how impulsive leg and how overextended the market currently is

Uploaded 4 trades from the last couple of weeks, currently doing some prop challenges as I don't have any personal capital to make it meanigful

Respect you alot man, would welcome any thoughts you have on any aspect of my trading

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not an impressive wick here but upwards momentum

Good morning

I dont think elasticity will help you catching tops and bottoms. When I trade H4 stochs a like to see a nice pinbar with the stoch pattern. For catching tops and bottoms I think fibo extensions + time of session and pivots are the best way. Anyway riskier than trend trading

h4 elasticiting, put some orders

already in

Edit: this fking big bar scared me also stoch is not in the 20 are so I closed with the benefit of the bounce,

very busy US session for the DOW
Daily stochs slowly coming into play, H4 nice stochs play anf the rotation on M30
pump and dump followed by dump and pump - many positive points harvested
Renko brick set to 25 points, so 4 x 25 +100 points, as long as one trades into intra day direction, hundreds of points available

ghbdr is absolutely right pointing to the precise entries pointed by renko, providing the job on MTFs has been done, including stochs/elastics'


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

Earning season NVIDIA AMC tomorrow

Nice ride down to the ext

only trade i had time for today. decent wick up there

Wicks are a great alert and entry although the Risk: Reward is skewed with the stop being placed at wick highs ( 3:1? ). That’s scalping of course, and an extremely high hit rate is required.

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, his approach was to count the bars, forming fractals of various degrees, it is interesting but complicated, 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.
Before you are tempted to try TDcount, please do some studies and preferably read Jason's book, under 200 pages only.
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.

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!

renko entries are supported by the very important foundational work, MTs and 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

DOW TDcount
Chart below Brick set to 25 points

DOW Chart below Brick set to 15 points

morning all. this poor guy is probably doomed
yeah I agree. you have to be very precise to make money that way, or leave runners with much larger targets

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