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Price action trading with RENKO

  • #81
  • Feb 8, 2011 4:43am Feb 8, 2011 4:43am
Quoting jiva34
Ezakimak, you haven't posted any trades... Don't see any?
I've had a big day at work followed by a two hour meeting that became a three hour meeting. Just typed up the price action entries from your previous chart too.

I watch EURUSD, USDCHF, GBPUSD, USDJPY and AUDUSD and just wait for the signals to come up. I avoid exotic pairs. I try not to overtrade, and will not go looking for trades and forcing entries because of some sense of having to 'be in the market'. I am happy to wait for the market to tell me something. If there are no signals, there are no trades for me.

I have a trade open on the EURUSD based on my Red vs Blue strategy. It is in my trading journal.
  • #82
  • Edited 2:03pm Feb 8, 2011 4:50am | Edited 2:03pm
Quoting jiva34
Don't mean to be a pain, but Ezamikak you seem to have some experience with this...and are willing to answer questions...
Is this a valid way to find entries, are these the same types of pennants, triangles and flags etc, traders look for on more traditional charts?

We would look for renko to signal a move down??

(Couldn't you have chosen a more difficult screen name)???
Absolutely. You will find a lot of the same patterns with renko. The difference is that renko makes them nice and clear as the charts are not noisy like a candlestick chart.

Looks like you have a pennant forming on that chart you posted. I wouldn't trade it though, until the pennant completely forms and price pops out of hit. Check this out for a sexy renko pennant: http://www.forexfactory.com/showpost...9&postcount=83
  • #83
  • Feb 8, 2011 4:51am Feb 8, 2011 4:51am
Jiva, I'm having some trouble with my EMAs!

My renko bricks are forming like they should, but the EMAs aren't moving with the chart They get offset
Here's a picture of what I mean:
Attached Image (click to enlarge)
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  • #84
  • Feb 8, 2011 5:05am Feb 8, 2011 5:05am
Quoting dragan53
jiva im down 14 pips on usdjpy
looking at 1h at it
this sort of formation happens all the time the burj dubai
it can go up
but its gonna bottom down another 50,soon it has too
it got lifted up artificially

the us yields dropped,i think
China just raised rates again, 2nd time in a month... Have anything to do with it??
Maybe now that their currency they are making stronger, they can have better buying power to snap up Euros? Turning away from USD...
  • #85
  • Feb 8, 2011 5:05am Feb 8, 2011 5:05am
finoli thats an offline chart

try it on a live chart
  • #86
  • Feb 8, 2011 5:06am Feb 8, 2011 5:06am
Quoting jiva34
(Couldn't you have chosen a more difficult screen name)???
Heh heh!

Little story for you.

My wife is Japanese, I speak Japanese and have spent some time in the wonderful country of Japan. The samurai and zen outlooks on life have always intrigued me and I admire the Japanese spirit.

A sad part of Japanese history is the advent of the Kamikaze during World War 2. These men through love, honour and duty for their country gave their lives doing what they thought was right. A lot of people died as a result and many lives, loves and families were broken on both sides of the battle.

By reversing the spelling of Kamikaze, Ezakimak shows my intention to live a life of similar love and honour as the ancestors of my wife, but without the detrimental effects. Whereas the Kamikaze cost lives and love, my wish is to do the opposite and help people in any way I can, big or small.

Some people shorten it to Zak.

Ezakimak
  • #87
  • Feb 8, 2011 5:09am Feb 8, 2011 5:09am
Quoting jiva34
China just raised rates again, 2nd time in a month... Have anything to do with it??
Maybe now that their currency they are making stronger, they can have better buying power to snap up Euros? Turning away from USD...
could be,china has an effect all over the world now
the us has been complaining on the cheap yuan,so they got it stronger
that sounds like us is still the boss
i read that china dumped yen bonds

http://www.businessweek.com/news/201...-declined.html

but if the sale of the bonds had an effect,usdjpy would go up not down
wait the spike was up,for usd
that could be it

the chinese interest rate rise had an affect on aud
http://www.reuters.com/article/2011/...71716X20110208
  • #88
  • Feb 8, 2011 5:12am Feb 8, 2011 5:12am
Quoting Ezakimak
Jiva,

Alrighty, have a look at the attached chart, let's see if we can figure this out.

There is a sweet double bottom marked with the white line at the bottom of the chart....
Yes I follow your reasoning.
Thank you for taking the time.
Trading pure price action is quite the thing. the patterns become distorted and twisted out of shape on a time sensitive chart. No distortion here.
doesn't mater when, only that it does. Nice..
  • #89
  • Feb 8, 2011 5:12am Feb 8, 2011 5:12am
Quoting dragan53
finoli thats an offline chart

try it on a live chart
How? All tutorials on renko says to open an offline chart
  • #90
  • Feb 8, 2011 5:15am Feb 8, 2011 5:15am
Quoting Finoli
Jiva, I'm having some trouble with my EMAs!

My renko bricks are forming like they should, but the EMAs aren't moving with the chart They get offset
Here's a picture of what I mean:
see EZ's post and pdf.. It takes a little "hair pulling out of the head" to get it right but then it's a breeze...http://www.forexfactory.com/showpost.php?p=4376932
  • #91
  • Feb 8, 2011 5:16am Feb 8, 2011 5:16am
Quoting Finoli
How? All tutorials on renko says to open an offline chart
ur were talking about the ma's

' but the EMAs aren't moving with the chart They get offset '
  • #92
  • Feb 8, 2011 5:18am Feb 8, 2011 5:18am
Quoting ezakimak
heh heh!

Little story for you....
ありがとうございます。美しい...
  • #93
  • Edited 5:49am Feb 8, 2011 5:28am | Edited 5:49am
Holy shmoley..
the patterns are EVERYWHERE!!!!
This is going to be fun!!!!!!!!!!
Trading like paint by the numbers...
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  • #94
  • Feb 8, 2011 5:32am Feb 8, 2011 5:32am
I did everything in the pdf but it still says EURUSD,M3(offline) and the EMAs still won't move
  • #95
  • Feb 8, 2011 5:41am Feb 8, 2011 5:41am
Quoting Finoli
I did everything in the pdf but it still says EURUSD,M3(offline) and the EMAs still won't move
should be m2...
v3.2 renko live chart ea?
wait a minute or two after you attach ea to live 1 min... The comment upper left corner will say attach to 2m, means the chart is ready to load as an offline chart.
then open from offline menu, leave m1 running and attach v3.2 to the EURUSD 2M. Leave both open..
Hope that helps.
Don't use the script form of live charts. the ea form works much much better....
  • #96
  • Edited 6:30am Feb 8, 2011 5:43am | Edited 6:30am
EZ,,
maybe I caught one...

edit:
31 pips..
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  • #97
  • Feb 8, 2011 5:52am Feb 8, 2011 5:52am
Quoting jiva34
should be m2...
v3.2 renko live chart ea?
wait a minute or two after you attach ea to live 1 min... The comment upper left corner will say attach to 2m, means the chart is ready to load as an offline chart.
then open from offline menu, leave m1 running and attach v3.2 to the EURUSD 2M. Leave both open..
Hope that helps.
Don't use the script form of live charts. the ea form works much much better....
I used the one someone posted in this thread (v3.2)
though, I'm not sure I waited long enough. Also, do I have to attach it a second time on the 2M? becuase it didn't say so in the pdf
  • #98
  • Feb 8, 2011 6:27am Feb 8, 2011 6:27am
Quoting Finoli
I used the one someone posted in this thread (v3.2)
though, I'm not sure I waited long enough. Also, do I have to attach it a second time on the 2M? becuase it didn't say so in the pdf
It's on a template I made so when I open the template it gets attached again.
Works for me.
Do the pops come and ask you about accepting dll etc...?
  • #99
  • Feb 8, 2011 6:36am Feb 8, 2011 6:36am
Quoting jiva34
It's on a template I made so when I open the template it gets attached again.
Works for me.
Do the pops come and ask you about accepting dll etc...?
Yes, the first time. I just tried adding it again on 2M, lagged my mt4 so had to shut it down..

Don't know what to do

Maybe you could post your template and tell me exactly how you set you chart up? If it's not too much trouble
  • #100
  • Feb 8, 2011 6:46am Feb 8, 2011 6:46am
Quoting Finoli
Yes, the first time. I just tried adding it again on 2M, lagged my mt4 so had to shut it down..

Don't know what to do

Maybe you could post your template and tell me exactly how you set you chart up? If it's not too much trouble
let's do this via pm and email.
could be a lot of stuff others might not want to wade through...
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