Printable Version. Renko system 13 replies. My Renko System Discussion 8 replies. Attachments: Animal Farm Renko system.
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Printable Version. Renko system 13 replies. My Renko System Discussion 8 replies. Attachments: Animal Farm Renko system. Exit Attachments. Animal Farm Renko system. Sep 19, pm Sep 19, pm. Joined Jan Status: Member Posts. Quoting Wab. Joined Dec Status: Member Posts.
A bit of trial and error - plus they are all Fibonacci numbers. Other people have done similar things with the Alligator on different time frames. You may find other brick frames where that works if you experiment, but like the 10 pip 30 pip relationship. I will see about some posts on that topic as I get a chance to do so. Oct 8, am Oct 8, am. Hello Wab, How are you doing?
I hope everything is well. Still lurking about and reading through this thread again would love to hear more from you. Oct 9, am Oct 9, am. Been very busy. Will get some Fib material here soon. Oct 9, pm Oct 9, pm. Use axe Luke Edited at pm Oct 10, pm Edited at pm. Fibonacci - my thoughts: First of all I am basically an Elliott Wave trader. That gives me a somewhat different outlook on Fibonacci compared to the people who have programmed MT4.
They work on expansions and I work with contractions, then expansions. If you start off an Elliott wave sequence at point 0 bottom and run up to wave 1 and back down to wave 2, you have an expansion wave 1 and a contraction wave 2. Attached Image. Attached Image click to enlarge.
Oct 10, pm Oct 10, pm. Attached File. Oct 11, am Oct 11, am. Hi Wab, Thanks again for not letting this thread die and sharing your knowledge with us. Attached is my UJ chart, with the modified Fib settings, it's actually more readable this way, thanks for this. Wab and all , How would you recommend trading such a chart? Waiting for the break of the E if I got it right doesn't always work for me as the price usually touches the line and then continue its way up or down.
Also, on a another message, you've recommended taking only longs when the 10 pips teeth is above the 30 pips teeth, since the 10 is sloping rather nicely, doesn't it mean that if price breaks the E line and continue down, following such a rule will "cost" us a lot of pips? I'm still struggling with my charts, as you can see. Oct 11, pm Oct 11, pm. This is how I see it: Wab mentioned about Elliott Waves and about importance of I don't see clear 3 wave correction on UJ and price didn't touched the That would end exactly on Good job Reamasesa and Krystyn.
A nice trade is to go long as the price breaks above the level. Also look for an E line reversal around the Fib retrace levels. You may not always see one there but always look for one.
When E is broken, remember that it has to continue for a bit to reach Don't jump in at E wait for Wait until 2 is confirmed and we only know it is confirmed when price breaks above 1 or There are ways to enter at or near 2. They are more risky than waiting for that We will get to those. Catching a third wave, either at the 1 breakout or at or near the 2 turn, is the trade of dreams.
We need to look at strategy and management of a third wave trade and how to get some of that contraction between 2 and 1 into the game as well. Please go and really look as a lot of charts and locate the Boss Fib. The Boss Fib sets the whole thing up for us and determines how we approach it.
Find the We learn by doing. When I get back, I will go over that chart. I have to leave shortly for Canadian Thanksgiving Dinner with some relatives a two hour drive away.
I have a pending order at the If you are celebrating Thanksgiving Today enjoy the time with family and friends. Hi Wab, Happy thanks giving! I do hope you enjoy your dinner and family time. This is how I view the NU, I'm not sure I would have survived going through the rectangle area I really like the fact that we're seeing more and more EW stuff and other goodies.
Thank you. Will we see more EW and learn more of it? Happy holiday, Wab and all who are celebrating. Oct 12, am Oct 12, am. Joined Jun Status: Member 40 Posts. I love your simple approach Less Indicator with deeper trading concept. This indi i put from other thread and adjust it to Four concept. Attached Files. London BreakoutV9. London Breakout scriptV3. Oct 12, pm Oct 12, pm.
Thank you Tiong. I will have a look at those. Oct 14, am Oct 14, am. Hello Wab and all, I would like to get some help reviewing my attached charts, please. If it reaches the CADJPY - Please ignore the red arrows, they are from a different scalping method I tried ADX, not sure about it, repaints like crazy , I have a Boss Fib in place with two pending orders, one with TP just above the line as the retrace was around 50, the other will be a free trade once profit is hit.
I hope. Price went up. Any insights on this one would be greatly appreciated. I know. GBPNZD - I took a trade at the line, please ignore previous arrows, and let it ride, I wasn't at home so I closed it when I got back after it dropped back to the line, which was a good thing as the price went down to form a double bottom.
I would like to get some insights on this one, as well. This one I was sure was going to go down some more. Any insights, comments or anything, would be greatly appreciated. Attached Images click to enlarge. Oct 14, pm Oct 14, pm. Hi Ria.
Enough questions there to keep me busy for a week. You will hopefully find the Boss Fib and the figure Four trades familiar by now. Words cannot describe how thankful I am for what you are doing here. I've learned to put pending orders and step away from the keyboard though I do come to check on them from time to time. OK, I watch them all the time but I don't interfere with the initial setup unless something happens that demands it.
Trading with Elliott Waves using Fibonacci retracement levels
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