Price action trading with RENKO | Forex Factory

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Price action trading with RENKO

  • #1
  • First Post: Edited 5:06am Feb 4, 2011 1:26am | Edited 5:06am
Hello everyone,

In my trading journal, I keep a record of my investigations and discoveries in trading renko. I like to use renko combined with one other indicator.

Let's use this thread to post purely price action based renko trades.

When I trade renko with just price action, I am looking for support / resistance bounces and breakthroughs, double top / bottoms along with my favourite: higher lows and lower highs.

How do you trade naked?

Ezakimak
  • #2
  • Feb 4, 2011 1:35am Feb 4, 2011 1:35am
Once you learn to see and read price action, you can see opportunities everywhere.....
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  • #3
  • Feb 4, 2011 1:52am Feb 4, 2011 1:52am
I'm interested to know more on your trading strategy. Keep it going man..trading price action..really love it!
  • #4
  • Feb 4, 2011 2:09am Feb 4, 2011 2:09am
GBPUSD has been channeling for most of the day. I have drawn the channel on the screen in blue. If it breaks out of the box, we will trade in the direction of the breakout and see what happens...
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  • #5
  • Feb 4, 2011 2:13am Feb 4, 2011 2:13am
I'm all ears (or eyes, I guess). I've always liked the look of naked renko.
  • #6
  • Feb 4, 2011 2:17am Feb 4, 2011 2:17am
I love Renko, but I have not found a profitable way to trade it yet, maybe with just the break of S/R......

Thank you for starting this thread.

Waiting for more......
  • #7
  • Feb 4, 2011 2:22am Feb 4, 2011 2:22am
Price has broken out of the box on GBPUSD. Let's see how we go!
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  • #8
  • Feb 4, 2011 2:26am Feb 4, 2011 2:26am
Hi Ezakimak,

what size box are you using?

Thanks.

Nick




Quoting Ezakimak
Price has broken out of the box on GBPUSD. Let's see how we go!
  • #9
  • Feb 4, 2011 2:30am Feb 4, 2011 2:30am
Quoting nick2112
Hi Ezakimak,

what size box are you using?

Thanks.

Nick
Hello Nick,

My blocks are 100 pips - I have a 5 digit broker. If you have a 4 digit broker, that equates to 10 pip blocks.

Come on everyone, post your naked charts with some price action!
  • #10
  • Feb 4, 2011 3:51am Feb 4, 2011 3:51am
Okay, looks like the breakout was a fake-out. Time to close up and wait for the next opportunity.
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  • #11
  • Feb 4, 2011 4:41am Feb 4, 2011 4:41am
Quoting Ezakimak
Okay, looks like the breakout was a fake-out. Time to close up and wait for the next opportunity.
thread closed.
  • #12
  • Feb 4, 2011 4:43am Feb 4, 2011 4:43am
Thread closed?
  • #13
  • Feb 4, 2011 4:49am Feb 4, 2011 4:49am
Quoting Ezakimak
Thread closed?
Ezakimak, it was a joke .

Thanks for starting this thread, will keep an eye on it.
  • #14
  • Feb 4, 2011 4:52am Feb 4, 2011 4:52am
first example losing trade. why on earth would anyone keep on reading.
  • #15
  • Feb 4, 2011 4:57am Feb 4, 2011 4:57am
Thought I might have done something to anger the Moderator Gods or something ha ha!

If anything, that should show that I'm trading live and not just posting good trades after the fact like I have seen here and there.....
  • #16
  • Feb 4, 2011 4:57am Feb 4, 2011 4:57am
Quoting stimpy
first example losing trade. why on earth would anyone keep on reading.
Are you kidding, arenīt you ?
  • #17
  • Feb 4, 2011 4:58am Feb 4, 2011 4:58am
She's breakin' out the other way now!
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  • #18
  • Feb 4, 2011 5:01am Feb 4, 2011 5:01am
Quoting Caillou
Are you kidding, arenīt you ?
no im not. chasing price around all day is a total and expensive waste of time. the current brick on renko is utterly useless to trade off anyway.

maybe waiting for the second brick to print wouldnt have lost?
  • #19
  • Feb 4, 2011 5:05am Feb 4, 2011 5:05am
Price has moved enough to create a new block so I have moved my stop loss to lock in a couple of pips of profit. Whatever happens now it is a winner!
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  • #20
  • Feb 4, 2011 5:09am Feb 4, 2011 5:09am
Quoting stimpy
no im not. chasing price around all day is a total and expensive waste of time.
Isn't chasing price around all day pretty much the definition of trading?
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