Renkochart
(I'm a newbie) Analysis of LTC EUR - Kraken - Renko - DailyJust learning and sharing so I can get some constructive feedback on what I am seeing and what I am not seeing in my chart analysis. If you think I am insane, that's cool. Just be sure to tell me why so I can learn :)
I am doing my best to keep things simple and follow solid trends and retracements keeping trading/market psychology in mind.
I made this analysis using Renko bars to get stronger trends on average price action. I used the green time span circles to get an idea of how the price action moves the market along and better understand where I might be able to find buy-in and take profit points. On the main chart, I pulled the time cycle from the beginning of the first large wave to the centre of the peak to get my estimated time frame for when I can expect the peak of the following wave.
In the RSI, I pulled a fib retracement from the all time high in the RSI around the beginning of 2018. This showed me that all subsequent peaks in the RSI "uptraces" to the .5 on the fib. On the most recent wave in the RSI, I pulled a fib from the peak to the newly formed low - this showed me a that all previous peaks lined up with the .618. Using the time cycles tool, I identified that the predicted peak I created on the chart lined up exactly with the predicted peak on the RSI.
Massive sequence of RSI-Renko DIVINE™ Scalps Following Iran NewsThere were a total of 250-270 points of NQ scalps after the Iran missile strikes going long. If you held the first contract long on the swing trade (1st trade in the direction of the new trend is always the swing trade, marked by a fat arrow) you would have gained another 270 points.
GBPUSD Renko + CandlesticksTrying to get into Videos describing how I go over the charts using Renko and Candlesticks with a few Indicators in play.
GBPUSD setting up for a huge move this week let's not miss it.
Let me know what you know!
Renko Dynamic Index and Zones - Video 3Continuing on trade ideas from video 2 for Renko Dynamic Index and Renko Dynamic Index Zones using a few simple rules.
Other indicators powered by the Renko Engine :
Renko RSI
Renko Trend Momentum
Renko Weis/Ord Wave Volume
Renko MACD and Renko MACD Overlay
Strategies:
RSI-RENKO DIVINE™ Strategy
Renko Dynamic Index and Zones - Video 2I start getting into how I trade the Renko Dynamic Index and Renko Dynamic Index Zones using a few simple rules. I introduce some new coloring schemes and trade direction discovery algorithms.
Other indicators powered by the Renko Engine :
Renko RSI
Renko Trend Momentum
Renko Weis/Ord Wave Volume
Renko MACD and Renko MACD Overlay
Strategies:
RSI-RENKO DIVINE™ Strategy
Renko MACD and Renko MACD Trend IntroductionI introduce the Renko MACD and Renko MACD Trend indicators.
Other indicators powered by the Renko Engine:
Renko RSI
Renko Trend Momentum
Renko Weis/Ord Wave Volume
Strategies:
RSI-RENKO DIVINE Strategy
RSI-RENKO Divine Strategy - Merge Feature IntroductionI introduce the RENKO - RSI Merge feature. I am very happy about this as it solves draw down problems as well as sub-optimal entries after oversold or overbought conditions in a long/short trend.
