Renko Straddle Entries @ 0500 GMT

noises49

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Renko is somewhat problematic when trading in real-time. However, when the market is flat, it appears to offer accurate high/low targets for entry. For the 3 days so far this week, this strategy produced winners for GJ15. I set the straddle at 0500 GMT (Midnite NY) taking the latest Renko high/low points.
Comments from Renko users or any others with thoughts or ideas would be appreciated.
 

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Renko Straddle - Cable - 020807

Straddle entered at 0215 EST. Buy target - 9730, Sell target - 9685. Sell target hit at 0315 EST. A secondary sell target was put in place at 9660 prior to BOE and was hit at 0715. What we have here is a very simple, very effective trading model.
 

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I've used Renko for ESTX50 and DAX in the past and I did like it. Like P&F it takes a lot of noise out of the price movements.
 
Helen

May be the simplest trading model around. Since the Yen continues to get beaten down, my targets are GJ and EJ. GJ is a monster; EJ is less volatile. (At least for now). The entry strategy I'm seeing is wait for a straddle to setup; if he's already broken out it's riskier. Use in conjunction with "normal" charts and indicators as you like.
 

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Here's a Profitable Pattern

This one's a winner - for sure.
 

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Interesting. I am just getting into trading with Renko now, I like how it eliminates noise. Anything else to share with a Renko beginner?
 
Also, what about the Renko wicks? Wont they make you enter a trade before the breakout has been formed and whip you into a loss?
 
Also, what about the Renko wicks? Wont they make you enter a trade before the breakout has been formed and whip you into a loss?
Hi wouldn't hold out too much hope getting a reply from the OP Daniel, as his last post was over 7 years ago!

My answer to your question is that wicks aren't being used here. I may be wrong, but I think it's only in more recent charting packages that some providers offer Renko with wicks - InvestorRT being a particularly good example.
Tim.
 
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