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When I mention a sell/buy candle, its on either 30min/5min/1min.So, simply put,a sell candle on 5min needs to be a hammer (with red close)or dogi that made a HH ,but closes red.This needs to be at a location of interest.The edges are where i am interested.Depending on the context of the day.So, on a inside day,like yesterday, a 5min hammer at hod/previous day hodwould be ideal..What I like , is that price needs to make a nhod to stop me out.Another type of sell candle is engulfing.I just want to see sellers come in,.This can happen on all time frames.So ,an entry on a 1min hammer off the hod ,i will look for a favorable close on the 5min.Many times, the 1min wont give this, but the 5min will, which is fine, because the 1min is noisy......Also, in the past, for many years i tried to use macd to get me into trades.This ultimately failed for me,costing me years ....I know people that use macd very well.The big difference is they know when to use it, which time frame, and how to use it....
I have a unirenko , but rarely use it.I find it helpful in limited situations.However, the problem ive had ove time, is i get jammed up trying to execute looking at too much, and at the end of day, i see the obvious 5min/30 min candle setups .I think the 5min is really the key,
true Johnny! a nice hammer with a big wick on big volume at hod is great.Currently, im trying to be more aware of candlesetups that get us up to the highs...a bit more intricate
Looking forward to that webinar. In the meantime though im keen to see some charts and your pa analysis. I don't use renko either. I was all googly eyed after reading tsj thread when I first joined this forum but got properly bitch slapped back into line for trying to copy someone else's method
