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  • #9,721
  • Jan 19, 2012 10:40am Jan 19, 2012 10:40am
hey there - been told good things about this thread - and since the discussion is about renko for the moment, thought i'd get involved.

Been a range bar trader for a few months now and migrating to Renko's for even less noise. I just play horizontals and use diagonals for context - this is what i see currently - just play the levels as they appear

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  • #9,722
  • Jan 19, 2012 11:57am Jan 19, 2012 11:57am
Quoting pipmyride
hey there - been told good things about this thread - and since the discussion is about renko for the moment, thought i'd get involved.

Been a range bar trader for a few months now and migrating to Renko's for even less noise. I just play horizontals and use diagonals for context - this is what i see currently - just play the levels as they appear

Ill explain a bit on Weekend. Today i was concentrating about explaining basic and simple stuff concerning trends and reversals as I saw many traders ( other threads +10v) simple dont know when to short and when to long losing 50 -100 pips in the process and that is all adding into losers....

Feel free to post your Renko setups and trades so we can discuss it; )
  • #9,723
  • Jan 19, 2012 12:00pm Jan 19, 2012 12:00pm
Quoting T@rantula
Attachment Why 2877 ( its 2875 +2 pips )

I will show u the difference between RETRACEMENT and REVERSAL. Have I mentioned 2875? I think minimum 5 times......Watch it in RENKO!

REMEMBER: EACH TIMEFRAME IS THE DIMENSION FOR ITSELF! Since RENKO doesnt use TIMEFRAMES look at PA near 2875!

Attachment
2.30h hours later

Price NEVER reversed. Why? Because 2875 hasnt been taken out. That was a minor retracement prior to new HH. Simple.

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  • #9,724
  • Jan 19, 2012 2:43pm Jan 19, 2012 2:43pm
Quoting T@rantula
2.30h hours later

Price NEVER reversed. Why? Because 2875 hasnt been taken out. That was a minor retracement prior to new HH. Simple.

Attachment
Hi T... why was 1.2875 important in your chart?? Before I continue I totally agree with you that 1.2875 IS important but i have 1.2877 as a fib for bearishness - that is my reason... from a HH and HL perspective... 1.2833 would have been the breakdown for bear mode...
  • #9,725
  • Jan 19, 2012 4:34pm Jan 19, 2012 4:34pm
Quoting jaylovin
Hi T... why was 1.2875 important in your chart?? Before I continue I totally agree with you that 1.2875 IS important but i have 1.2877 as a fib for bearishness - that is my reason... from a HH and HL perspective... 1.2833 would have been the breakdown for bear mode...
The calculation was made in Asia session starting from 4 gmt where 2871 was the top of the range. That automatically means 2871 has become resistance. Then applying pivot points and fibs i had a confluence at 2875. So we go for straight number. PP + Fib confluence just 4 points above 2871 made a great s/r level and that was proven afterwards.

The importance i insisted on is because I was really pissed off, seeing other threads where so called experts ( all 10+v) thus making many other traders especially newbie traders confused. They kept SHORTING EU starting from 2840+ and praying EU will drop for the sake of their accounts.

I insisted on 2875 as it was obvious we were in a TREND RETRACEMENT not REVERSAL. Just below 2875 bears could have had an upper hand for intraday shorts. Above was a CLEAR RETRACEMENT so the logic was ADDING the longs not shorting the tops.
  • #9,726
  • Jan 19, 2012 4:55pm Jan 19, 2012 4:55pm
Quoting T@rantula
The calculation was made in Asia session starting from 4 gmt where 2871 was the top of the range. That automatically means 2871 has become resistance. Then applying pivot points and fibs i had a confluence at 2875. So we go for straight number. PP + Fib confluence just 4 points above 2871 made a great s/r level and that was proven afterwards.

The importance i insisted on is because I was really pissed off, seeing other threads where so called experts ( all 10+v) thus making many other traders especially newbie traders confused. They kept SHORTING...
some (10v+) people still believe EU will drop... 1.2927 was breakout for me... retest of this will be nice to go long on... monthly pivot is now possible...

also... thanks for the clear and concise explanation
  • #9,727
  • Edited 5:19pm Jan 19, 2012 4:58pm | Edited 5:19pm
Quoting T@rantula
2.30h hours later

Price NEVER reversed. Why? Because 2875 hasnt been taken out. That was a minor retracement prior to new HH. Simple.

Attachment
It didn't reversed as u say it's retracement.
Bearish cycle still in play.
  • #9,728
  • Jan 19, 2012 5:21pm Jan 19, 2012 5:21pm
Quoting egkid
It didn't reversed as u say it's retracement.
Bearish cycle still in play.
bigger tf you are right.. 1.37 and it would still be bear retracement.. but right now it doesn't look like it will stop just yet
  • #9,729
  • Jan 19, 2012 5:24pm Jan 19, 2012 5:24pm
Quoting jaylovin
bigger tf you are right.. 1.37 and it would still be bear retracement.. but right now it doesn't look like it will stop just yet
1.37!! I don't think so
I have sell@ 1.29 , 1.2970
My Chart
http://www.forexfactory.com/showthre...70#post5308870
  • #9,730
  • Jan 19, 2012 5:32pm Jan 19, 2012 5:32pm
Quoting jaylovin
some (10v+) people still believe EU will drop... 1.2927 was breakout for me... retest of this will be nice to go long on... monthly pivot is now possible...

also... thanks for the clear and concise explanation
No its not the problem EU will drop eventually OFC. But what is the purpose of misleading the traders by shorting every single top INTRADAY and losing 100 pips in 1 trade. LOL...that is not trading that is pure mindless gambling, trading without s/l. Thats the most stupid thing one can do.

We all know EU will drop, but when u are trading LIVE and INTRADAY you must not mislead other traders by being so rigid and mindless like those +10v.

Trading LIVE and INTRADAY doesnt allow any speculations of : "EU WILL DROP".

It will not drop by any means if the reasons have not been met. AND TODAY ( i was taking about today's trading) EU was bound for a clear UPTREND.

Im not talking about you it was other traders...
  • #9,731
  • Jan 19, 2012 5:41pm Jan 19, 2012 5:41pm
Quoting T@rantula

Im not talking about you it was other traders...
no need to explain... i rarely post these days so i know i couldn't be doing that

but i remember when i first started trading it was the same for me... misleading posts but then i have no one to blame but myself to believing in those 10v+ who supposedly make 20% a day on their account... internet guru's, same BS
  • #9,732
  • Jan 19, 2012 5:41pm Jan 19, 2012 5:41pm
Quoting T@rantula
No its not the problem EU will drop eventually OFC. But what is the purpose of misleading the traders by shorting every single top INTRADAY and losing 100 pips in 1 trade. LOL...that is not trading that is pure mindless gambling, trading without s/l. Thats the most stupid thing one can do.

We all know EU will drop, but when u are trading LIVE and INTRADAY you must not mislead other traders by being so rigid and mindless like those +10v.

Trading LIVE and INTRADAY doesnt allow any speculations of : "EU WILL DROP".

It will not drop by any means...
You are Totally right dear bro
I got strong retracement signal since 1.28
But because as u know i divided my position i start to [email protected] , 1.2970
beside i trade high TF puting in my mind the possibility i was wrong so i know when i will cut my lose

Come on relax U r one of few good traders here Much better than many 10V

PS:If u want to see Where PA standing now check my previous link to my chart
this chart since 7-7-2008 U will never see it anywhere Else
  • #9,733
  • Jan 19, 2012 5:44pm Jan 19, 2012 5:44pm
Quoting egkid
1.37!! I don't think so
I have sell@ 1.29 , 1.2970
My Chart
http://www.forexfactory.com/showthre...70#post5308870
great work on starting your own journal! i hope you are right about EU... we may drop down to 1.2920 but moving higher is what i see on my chart... best of luck... hopefully catch up soon on skype!
  • #9,734
  • Jan 19, 2012 6:01pm Jan 19, 2012 6:01pm
Quoting jaylovin
great work on starting your own journal! i hope you are right about EU... we may drop down to 1.2920 but moving higher is what i see on my chart... best of luck... hopefully catch up soon on skype!
Thanks
Time best tool to tell
For me the fun just begun 1M TF say down move just [email protected] Target 1.2870 by tomorrow

Remember I could b wrong but i trade my own chart
GL
  • #9,735
  • Jan 19, 2012 6:18pm Jan 19, 2012 6:18pm
Quoting egkid
Thanks
Time best tool to tell
For me the fun just begun 1M TF say down move just [email protected] Target 1.2870 by tomorrow

Remember I could b wrong but i trade my own chart
GL
1.2870 puts us into bear mode again... interesting
  • #9,736
  • Jan 19, 2012 6:21pm Jan 19, 2012 6:21pm
Quoting egkid
You are Totally right dear bro
I got strong retracement signal since 1.28
But because as u know i divided my position i start to [email protected] , 1.2970
beside i trade high TF puting in my mind the possibility i was wrong so i know when i will cut my lose

Come on relax U r one of few good traders here Much better than many 10V

PS:If u want to see Where PA standing now check my previous link to my chart
this chart since 7-7-2008 U will never see it anywhere Else
Post pls, you are a hell of a trader m8!
  • #9,737
  • Jan 19, 2012 6:28pm Jan 19, 2012 6:28pm
Quoting jaylovin
... misleading posts but then i have no one to blame but myself to believing in those 10v+ who supposedly make 20% a day on their account... internet guru's, same BS
Exactly! Most of them fakes.
  • #9,738
  • Jan 19, 2012 6:31pm Jan 19, 2012 6:31pm
Quoting T@rantula
Exactly! Most of them fakes.
this is how one learns... through mistakes... now i don't read any websites or articles.. i am doing much better now than before and am taking less information in...

1.2877 for bear mode... if we hit 1.2870 then we will expect to see 1.2846 down to 1.2813... BUT... we broke out into bull mode past 1.2917 so this would be an important level to watch
  • #9,739
  • Jan 19, 2012 6:35pm Jan 19, 2012 6:35pm
Quoting jaylovin
1.2877 for bear mode... if we hit 1.2870 then we will expect to see 1.2846 down to 1.2813... BUT... we broke out into bull mode past 1.2917 so this would be an important level to watch
Exactly. I will post levels tomorrow estimating the Asian range

Lets see.
  • #9,740
  • Jan 19, 2012 7:05pm Jan 19, 2012 7:05pm
Quoting T@rantula
The calculation was made in Asia session starting from 4 gmt where 2871 was the top of the range. That automatically means 2871 has become resistance. Then applying pivot points and fibs i had a confluence at 2875. So we go for straight number. PP + Fib confluence just 4 points above 2871 made a great s/r level and that was proven afterwards.
The importance i insisted on is because I was really pissed off, seeing other threads where so called experts ( all 10+v) thus making many other traders especially newbie traders confused. They kept SHORTING...
This thread is the one to read if you want to see what's unfolding. Thanks for the great explanation on why the market didn't drop and the difference between Retracement & Reversal. You Tarant, are an observant trader and everyone can learn from you. This thread is much better without the chatter it use to have. More focused now. That's what traders need to do. Be more focused on the interday interworkings of price movements and the reasons behind the moves. Keep up the good work your doing T@rant.
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