NITRO Scalping for serious traders

London for +7 pips

+5 Frankfurt
+7 London

90 minutes work is enough for one day.

Nice work, I collected these pips as well

Yes, they are the ones. Thanks

Triple bottom on renko AY bars

+7 NY opening (trading is on Oanda so cannot mark the chart)

Sure enough, bagged some nice pips on AY reversal and also GY, probably could have gotten EY as well if fingers had been faster.

I am really liking watching for these patterns to form .. they add quite a bit to the probability of the trade IMO.

10 fast pips on EY after the double top,riding the PA just before the news and the mom desceleration

These double-triple top/double-triple bottom patterns are definitely something to watch out for, along with correlation & PA. Beats adding more indicators

Looks like you guys are making great progress. Due to lack of time to devote to screen time, I'm trading some session breakout methods instead. But I'll be watching all the c4/nitro/renko guys.

I hope you all achieve your goals, whatever they may be. And if I can help any of you just let me know.

Triple top on GY, a break either direction could move quickly

Does anyone know GY correlation to $ strength or weakness?

Cool, DD, I like your updates of bagged pips in your sig line!

Here's more price action on the GJ.

Some have asked about reliable setups. I highlighted my favorite in yellow (two actually of different sizes--one on the larger fractal and one on the smaller). These setups are everywhere, are good probability setups, and offer good R:R. S to R, R to S.

I also noted the confluence in the cyan circle. The idea behind confluence is that there are traders of all variety. S/R traders. TL/Channel traders. Fib traders. Pattern traders. Momentum traders. Breakout traders. Pivot traders. And on and on. The more groups that are interested in the area, the greater the probability of a successful trade. This had at least three groups looking at the same spot. Very high probability, very good R:R. (Note: third trendline touches are good probability plays, beyond that the probability decreases with each subsequent trendline touch.)

The magenta circle shows how price will often use trendlines in much the same way as support and resistance. Once price breaks through a trendline, it will often retrace, touch the trendline from the other side before moving in the opposite direction. Again support to resistance, resistance to support, even with trendlines. This is price action.

Interesting. But 3-10 pips? You have to win in about 85 % of deals to make money.

More price action on the AJ.

Good example of large and small triangles, pennants, flags, coils, whatever you want to call them. They are identified by higher lows and lower highs and indicate price is indecisive. Once price picks a direction it usually makes a good move. If the move is with the trend, they are pretty reliable, if the move is against the trend, use caution and be ready to jump out.

Good grief. Somebody please bring back Edge. Whatever he did or didn't do, he was at least focussed. This thread no longer merits the title, Nitro scalping for serious traders.

What are you doing asdf? Are you an analyst or a trader. You are writing a very nice textbook on TA. We all have these books. But where are your Nitro trades? I haven't see one of your trades. You are confusing everyone. In a previous post you stated:

Many can consistently spot the magic moment and the 5-pip target simply works. That's great. For others, it may not be working (as evidenced in the other thread). I hope this may offer some potential for improvement.

If that's the case, these traders who don't get it have not yet succeeded and need more screen time and more practice. What they don't need is your over analysis which as we all know leads to paralysis. Scalping is a skill which takes time to develop. It is clear that you are more comfortable with a vast array of predictive tools. Unfortunately these get in the way of the technique of scalping. I don't think you understand that.

This is my last post. I have the tools I need. I sincerely hope those who have a passion to succeed with scalping continue to persevere. If Nitro is not falling into place quite so easily, I would suggest more time with C4, which works extremely well.

Thanks again asdf.
It's cool to see PA explained on the same charts I'm currently trading on

I disagree slush .. I think asdf's commentary is taking us to the next level with Nitro. He is not introducing new indicators .. he is point out patterns on renko charts that may be even more predictive than those on candle charts. Most of us are used to working with renko now so we are ready to move to the next level in spotting PA . He's just showing us more ways to spot or confirm PA on renko charts.

Glad you have the tools you need to trade successfully .. good trading!

Agree, I saved both charts to my desktop so I can have them handy for study. Excellent analysis.