Mr.Nims, Renko Ashi Scalping System. - page 46
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Example of trade.
Hello LordFx and thanks for all your eforts here.
Looking to your example, as I know suport fractals works with 2 candles to left and 2 candles to the right higher than the suport, but at your example you show the entry only at the close of the firts candle to the right. Don't you have to wait to the second candle for a valid fractal? Maybe I did not understand something here.
I know that the fractal alert sound at the moment that the second candle starts to work higher, but if you don wait for the close of the second candle and if this one close lower than the suport the fractal desaper.How do you deal with this?
Once again thank you.
PartyPips
thanks lordsfxt,for ur Renko Fractal strategy.awesome trading system..entry rules r clear.r u using a fixed TP,TS or r u waiting for another Fractal/support resistance for exit??whats the best exit strategy?
It depends, if the market is swinging or trending. If the market has a support and resistance channel and if it hits the resistance and makes a fractal there, youd be best to take profit at the support and vice versa if it hits the support and make a fractal there. So you would be swing trading.
If it break out of resistance or support, it should probably be a trend market, so you would be best to wait till it create a new support or resistance for exit.
However, it depends on you. 100pip is a good take profit always. But you would use 50pip trailing just to be safe.
1 more example showing swing trade setup.
Another one example
Here is a eurjpy swing trade i just closed for 35pips, u can see it in the demo stats in my signature.
And lordFx if you have time, can you post your GBPUSD set up for today?
Thanks
thx
lordsfxt for ur trade examples.really helped me a lot.really appreciate ur efforts!!!
And lordFx if you have time, can you post your GBPUSD set up for today? Thanks
I'm On the sideline on gbpusd for now, will wait for london open. Resistance at 1.6425 which if it breaks could signal a new trend, If it goes below 1.6375 would signal a swing setup. Cant say at the moment because probability meter shows a very weak reading for the usd dollar.
Lets wait n watch
Ok I got it.
What about the question about the fractals that I did ask before.
Sorry for my instance but there is something that I'm missing.
See you
Ok I got it.
What about the question about the fractals that I did ask before.
Sorry for my instance but there is something that I'm missing.
See youOk about your question you need not bother about that, because the fractal and the alert will only appear after the second candle after the fractal is closed.
Just make sure there's a support or resistance line on the fractal, if the fractal appears but no support or resistance line on it, do not consider that as a signal.
Guess, what gbpusd broker the 1.6425 resistance. we might have an uptrend now.
Guess, what gbpusd broker the 1.6425 resistance. we might have an uptrend now.
Hi Lordsfxt!
When you get a chance, could you please post a shot of your exact entry and exit of a trade? TIA!