DislikedSee the attachment. You could have traded this in either direction successfully.
The Renko bar that opened shortly after midnight GMT (up arrow) was a continuation of an up move that eventually turned out to be a retracement. Still, 30 pips (26 net) was there for the taking.
Those more cautious could have entered short at the down arrow. After a period of congestion or consolidation, whatever you want to call it, 30 pips was also available there.Ignored
Note the inside bounce off major support a few Renko blocks before midnight. Is it a reversal or a retracement? We don't know for sure, but tend to think retracement because most trends finish with a period of congestion and that is not seen here. Still, taking a long here for 30 pips turns out okay.
I didn't take that trade, choosing to wait for a better signal which came a few blocks later. Note the bounce off minor (dotted) resistance and the subsequent break through minor support. Short at the down arrow gets it done.
Now if I could only spell "analysis" correctly...
Old Benjamin was right