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Renko in underwear

 
kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26



As I said all my charts have been changed to 25 pips blocks. So I continued managing my open trades with 25 pips blocks.

CADJPY printed a red block, I moved the stop just below that block and got out with +108 pips in profit

Considering that it was at some point +170 pips it makes me sad leaving so many good pips on the table. I can't think any better technique to get out of a winning position.

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26



AUDJPY printed a red bar which also failed to keep price above the previous resistance. Moved the stop loss below that bar and I got out. +15 pips. A bit disappointing but still it is a + sign so it is good in the end.

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26


A trade I considered taking this morning but I chickened out and didn't

NZDUSD breaking below the down trend line. (In the screenshot I have attached the trend line look a bit off but it is just because it moves. Can't find a way to keep it pinned there).

The Moving Averages are aligning properly and pretty and we have a second bar DC breach. Unfortunately in front of us was a horizontal resistance in the 0.825 area that has been touched 3 times and, after all, the NZD has been a strong currency lately.

Well, didn't take it and now I am watching it fly

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26

AUDCAD broke previous resistance, new DC low, SMAs all looking down.

Short @1.05693
Initial SL @1.06211 now trailing @60 pips
No TP

At the same time I entered a pending order buy @1.0627, SL @1.05717, TP @1.06732. That would test my theory about reversing the position. The price moved lower so I have canceled that order. That's it for today. No more trades.

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26



In this trade I got kicked out early. It seems that when the broker has 5 digit currencies the 60 pips trailing stop should be typed as 600. That means that my 60 pips was actually 6 pips trailing stop. Profit +2 pips

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26

Today was a good great day for my trades. I took 4 of them and all ended up green.

GBPNZD in downtrend, made one attempt to turn bullish but failed, right to the SMAs which are properly aligned. TP set at the point where was the previous resistance.

Short @Sell 1.92265
SL @1.93
TP @1.91219

Profit +104.6 pips

At the same time I entered a counter order Long @1.93 with TP @1.93772 just in case I was wrong. That didn't triger and I am canceling it.

Unfortunately I don't have a before screenshoot of this, only the after.

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Thanked by:
 
kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26

EURJPY stopped at previous resistance @105.755, bounced up and broke the upper channel line.

Long @107.005
SL @106.430 two bars back.
TP @108.000 which is a round number and price has swinged much there recently. That area is full of resistance. At that point the price made a red brick but recovered again and now it made a new high.

Profit +94.4 pips

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26

USDCAD is consolidating. It bounced down from parity where it has found much resistance in the recent past.

Short @0.99603
SL @1.025
TP @0.99 where the next resistance starts.

Profit +60 pips

Naturally I entered the counter trade which didn't trigger and will be canceled

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26

CADJPY in uptrend, made a deep retracement below the 81.000 level and bounced back up. It also broke the upper channel line. Good candidate for continuation. Also in the candlestick chart the pair is in uptrend on the daily chart.

Long @81.573
SL initially @81.886. Now I removed it and entered a trailing stop of 60 pips.
TP initially @82.770 where the next resistance is but now I have removed it completely.

I will leave this alone to run as far as it can. I hope I will not regret this.

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kmidas
Greece
 
Posts: 68 since Feb 2011
Thanks Given: 8
Thanks Received: 26


USDCHF bouncing down from the 0.91 level. The whole area between 0.91 and 0.92 is filled with a recent range. Also we have a breach of the lower channel line.

On the daily chart we have a big bearish bar down from resistance.

Pending short @0.90687
SL @0.91317
TP @0.90 where is the support

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Last Updated on March 30, 2012


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