Hi ntk, thank you for subscribing, although my posting is a bit erratic, I haven't posted this much for a while! On my broker the DAX index is listed as GER30, can't comment on the DOW. Cheers, Dave

Renko trading using proven strategy

Hi ntk, The brick sizes I use on the DAX in general work OK because there is usually quite a lot of movement on an average day, these sizes may not be so useful on other instruments. On some currency pairs you might be waiting all day for a 20 pip ...

Renko trading using proven strategy

I struggle with Christmas tree charts Once I've opened a trade at the reverse brick I close it at the completion of the first 10 pip brick, I'll do this two or three times, then maybe let the next run a bit more, so I end up with at least ...

Renko trading using proven strategy

I agree the flavour of Renko you adopt is very personal. I think I have tried a variety of FF freebies and commercial offerings before I finally settled on this EA. I also started with both candles and Renko, but I got confused so stuck to the Renko ...

Renko trading using proven strategy

Hi MrTea, I just work from the Renko charts, no candles other than the M1 chart to generate the offline Renko chart, but I don't use the M1 chart for trading. I also find Renko fascinating, it has taken me a while to really understand how to use it ...

Renko trading using proven strategy

Hi Mr Tea, simple S/R lines, no pivots. I mark up the big numbers on the DAX because there can be a fair amount of choppy swings around these levels, but not always I just tend to avoid them. Other than that its simple S/R and occasional ...

Renko trading using proven strategy

Hi NTK, I would echo some of Mr.Teas comments, I think with Renko you can keep it simple, just own a process that you are comfortable with and refine it until it is consistent. I you don't make it your own it will not work for you. I took 20 pips ...

Renko trading using proven strategy

Hi Damsak, I also prefer to trade without any indicators, personally I find them confusing, I haven't found one that for me that gives clear, consistant signals but I guess a lot of people use them successfully. However I do trade using Renko, which ...

Trading with Price Action - Daily Trading Analysis

Hi Will, I have traded a range of instruments in the past but not metals! I do like trading GER30 because of its volatility, it can be a bit wild at times, but it usually delivers two or three opportunities a day that I can trade and generally it ...

Renko Trading Discussion

Hi Fxgenial, there are some stronger indications of an S/R levels than others, in this case the 12665 level/zone was reacted to quite strongly twice, the first time I took a short trade, the market returned to that level and bounced off it again, ...

Renko Trading Discussion

I should also have said I didn't take the trade long from 12640 - asleep at the wheel! Cheers, Dave

Renko Trading Discussion

Sorry, meant to add this chart in the last post! Cheers, Dave

Renko Trading Discussion

Hi Fxgenial, I look out for the reversal bricks that are created by MT7's EA and way up what I think is likely to become an S/R zone. If you look at the last chart there was obvious activity around the 12665 level and a couple of reversal bricks ...

Renko Trading Discussion

DAX +14, moved the SL to a fairly tight position, didn't quite make 12665 level and stopped out:

Renko Trading Discussion

DAX +10 locked

Renko Trading Discussion

DAX - see if this makes the 665 resistance, 5 pip bricks:

Renko Trading Discussion

DAX +22, closed at the red line:

Renko Trading Discussion

Oh well, BE+2!

Renko Trading Discussion

A few pips earlier, should get a reasonable trade out of this one:

Renko Trading Discussion

Hi FXgenial, thanks for the Fletbox indicator (also Traderduke), my slight colour blindness isn't a major problem, only on very busy charts and if I wanted to become a commercial or military pilot, which I think I've left a bit late! I'll have a ...

Renko Trading Discussion