More simple is impossible

Quoting PhilippineFX

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Sorry I posted the wrong chart for the last trade which was actually 7x1​8..........hind sight is a wonderful thing....closed on the first leg of a 123 and real runner {image}

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Quoting Matomi

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{quote} Youre realy master class in Renko scalping, nice trades I can see, your today trades are more accurate on entries then before And it makes a sense more to me All your entries I had marked before I logged on forexfactory, I think I start do it better Actually I have not any free time for trading, I am working in my fathers company, but I hope ASAP I will be back with 2-3 hours trading per day. Wish you all lot of pips at the last day of week !

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Quoting PhilippineFX

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https://en.wikipedia.org/wiki/Price_action_trading I like Wiki.....this is worth a scan...there are a lot of good points here

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Quoting adam777

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{quote} Hi PhilippineFX. Reading through the entire thread over the last few days. Are you using a fixed SL, or is your SL behind the last turning point? And are you moving your SL to breakeven?

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Quoting PhilippineFX

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{quote} All the charts I post are missing one critical component and that is Price Action....a video might be the way to go..... what you would see is price slowing and stalling at the OB/OS levels,S&R etc....maybe even a mini 123 after retracement begins that does not show up clearly on a renco brick.....I think the trend you are referring to is just a price cycle.....most of my trades are with the HTF trend... ...its pretty clear I need to apply the same care to exits....I have a tendency to close early Again PA is the key here....

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Quoting dee50

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I am on the run again, hospital day, no time to interact, but wanted you to have this to play around with, great little order manager EA, simple to set up, interacts with MT4 nicely, no lag. I picked it up some where, obviously, remember to set it up in accordance with your brokers decimals. Attached is what I had to do to get it to work. sl 10 = 100 TP 20 = 200 BE +2 = 20 Move to BE @ +8 = 80 get the idea? {file} Enjoy, it makes scalping much easier. CU later this evening. No I do not have the MQL4. {image}

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Quoting Ic555

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{quote} Hi PhilippineFX, Impressive scalping performance. I would like to know how you determine trend direction. Do you look at the direction of the 10 Renko Stochastic as per the last completed brick , when scalping the 5 Renko, and do you look at the 5 Renko Stochastic when scalping the 3 Renko chart? Thank-you for your very valuable input.

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Quoting PhilippineFX

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{quote} I am constantly looking at the 3,5 and 10 Renco....a quick glance at 2-5 days worth of Renco 10 tells the trend direction....that`s the HTF....I trade off the 3 or 5 renco depending on the size of the previous price cycle[s]

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Quoting Ic555

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{quote} Thank-you for your response PhilippineFX. I have also recently being looking at those 3, 5 & 10 Renko charts of the DAX and the 3 & 5 Renko charts of the EURUSD, due to its inverse correlation during the European session, and have found that scalping the 5 Renko brick cycles on the DAX is nearly trading blindly. Often you will just see a sharp point at the apex of the swing point on the 5 Renko and not be sure what to do, unless you are dee or PhilippineFX, but when you look at the 3 Renko you will see a double top/bottom with divergence....

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Quoting PhilippineFX

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Dax 14,38,32,32,27,24{image}

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Quoting PhilippineFX

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dax 4x31.......even though i took it on the ren5 it was actually a play off of the 10 renco where stochs and macd were OB and a nice 123 was forming. Out at brn.......i have no idea how much further this selloff will go but these small bumps are gold for scalping{image}

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