Been waiting to use this new Renko chart on a trade and I believe this should be a good one. Let's see how we do.
Strong preformance and demand of USD and heavy printing by ECB. If we will be pushed by suprising managment switches by Yellen or Draghi outlook have to be changed. but i am at all bearish
There are still big Risk factors in play for the rest of the year caused by Brexit and tumbling southern Euro countries. Also keep in mind there are elections in the USA… So in Q3-Q4 it can be choppy also in the US Equities. Nothing new from QE Front. ECB still pumping and ready to use all tools to archive thier goals. That normaly should chill out markets but...
Break of support= Short New lift=Long Short to renko support Long to advised or jump off if Renko crosses MA8 and closes one box below
For confirmation, use renko 1h + MA8 crossover. Hold until renko negative crossover MA8 CCI seems to point to when its GO! just keep an eye on it Its a clean and simple setup, you should not be able to do wrong here. Company has attracted new investors and something is brewing, new members of board to be elected 21 june 2016. Please do your own research on...
EURUSD momentum is still firmly to the downside at the moment. We are looking for opportunities to short unless we see momentum shift to the upside. If price crosses back into the range of the previous Renko bar based on the daily ATR(52) 92 PIP box, we will close any open short positions. Our bias will shift to long if we see a bullish Renko bar close on this chart.
Hey I got this crazy idea of doing a EW count on a Renko chart
New to trading renko charts.Trading on the renko 1 day chart with a SMMA 4 and MA 9 with Ricardo Santos support and resistance seem to getting quite good results.use a RSI 14 as well to give the extra confirmation.
Price has been sideways but is developing a downward bias. Two targets for med and longer term.
The pair is currently bullish and will soon reach a level that it tested back in the mid of December. If it breaks this level, it may head towards the next Fib level (4.438). Note that the cloud is steeper in this new attempt and the PA may have enough force to break through. In this case, a long entry could be foreseen.
Renko is fine to check support and trend as it removes time from an already too complex equation. For the EURPLN pair, we clearly see the supporting diagonal for the last 8 months. We also observe that the bounce of this summer is repeating right now with a similar intensity. By copying the pattern of this summer, we may expect a small correction towards the (C)...
On the daily 2$ Renko chart, TSLA is nearing it's exit oft the ichimoku cloud. This is a good sign for bears and would serve to be a profitable entry. Enter Short If: - 1 Renko box closes successfully under the cloud. - Renko is below the Tenkan-sen Exit:: - Trailing stop set 2 to 3 boxes behind entry.
working on a new system with ranko would love to have your idea ! it 's day trading system ! The basic are above the 89 ma ( red line on the chart ! ) looking for a long below the red line looking for short , need 2 more criteria before entering , Will need two red brick to enter short and 2 green to enter long , I will need to macd in my direction or at least...
Was waiting for the uptrend to regain steam again. Previous resistance of 95.40 is broken. If the 96.35 level also breaks I will enter a new long position. Comments/tips are appreciated.
EUR weakness prolongs, USD started the week like any other week since ~1.28300 (21 Oct) I don't expect much volatility. We have news on Thurday (USD - Unemployment Claims) on the 13th of November. Short until then.
CM_Renko Overlay Bars V1 Overlays Renko Bars on Regular Price Bars. ***Color of Renko Open and Close Lines Change Based on Direction. Default Renko plot is based on Average True Range. Look Back period adjustable in Inputs Tab. If you Choose to use "Traditional" Renko bars and pick the Size of the Renko Bars the please read below. Value in Input Tab is...