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Price action trading with RENKO

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  • First Post: Edited 6:06am Feb 4, 2011 2:26am | Edited 6:06am
Hello everyone,

In my trading journal, I keep a record of my investigations and discoveries in trading renko. I like to use renko combined with one other indicator.

Let's use this thread to post purely price action based renko trades.

When I trade renko with just price action, I am looking for support / resistance bounces and breakthroughs, double top / bottoms along with my favourite: higher lows and lower highs.

How do you trade naked?

Ezakimak
Once you learn to see and read price action, you can see opportunities everywhere.....
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I'm interested to know more on your trading strategy. Keep it going man..trading price action..really love it!
GBPUSD has been channeling for most of the day. I have drawn the channel on the screen in blue. If it breaks out of the box, we will trade in the direction of the breakout and see what happens...
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I'm all ears (or eyes, I guess). I've always liked the look of naked renko.
I love Renko, but I have not found a profitable way to trade it yet, maybe with just the break of S/R......

Thank you for starting this thread.

Waiting for more......
Price has broken out of the box on GBPUSD. Let's see how we go!
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Hi Ezakimak,

what size box are you using?

Thanks.

Nick




Quoting Ezakimak
Price has broken out of the box on GBPUSD. Let's see how we go!
Quoting nick2112
Hi Ezakimak,

what size box are you using?

Thanks.

Nick
Hello Nick,

My blocks are 100 pips - I have a 5 digit broker. If you have a 4 digit broker, that equates to 10 pip blocks.

Come on everyone, post your naked charts with some price action!
Okay, looks like the breakout was a fake-out. Time to close up and wait for the next opportunity.
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Quoting Ezakimak
Okay, looks like the breakout was a fake-out. Time to close up and wait for the next opportunity.
thread closed.
Thread closed?
Quoting Ezakimak
Thread closed?
Ezakimak, it was a joke .

Thanks for starting this thread, will keep an eye on it.
first example losing trade. why on earth would anyone keep on reading.
Thought I might have done something to anger the Moderator Gods or something ha ha!

If anything, that should show that I'm trading live and not just posting good trades after the fact like I have seen here and there.....
Quoting stimpy
first example losing trade. why on earth would anyone keep on reading.
Are you kidding, arenīt you ?
She's breakin' out the other way now!
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Quoting Caillou
Are you kidding, arenīt you ?
no im not. chasing price around all day is a total and expensive waste of time. the current brick on renko is utterly useless to trade off anyway.

maybe waiting for the second brick to print wouldnt have lost?
Price has moved enough to create a new block so I have moved my stop loss to lock in a couple of pips of profit. Whatever happens now it is a winner!
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Quoting stimpy
no im not. chasing price around all day is a total and expensive waste of time.
Isn't chasing price around all day pretty much the definition of trading?
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