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Completely chopped up in this range day. Though I did follow more of my plan (not all!) and tried to go in at pullbacks, there was not enough continuation, and i'd get stopped out. ALso, A couple of times what looked like a pullback was just a consolidation in a reverse trend. If I had followed all my rules, I wouldv'e only taken one trade with stop in those islands, rather than 3 or 4 trades per island of consolidation.
The Renko chart is interesting. Given no range today, it hardly moved. Interesting, thanks @sandptrader!
I had only one trade since last night, but it was in CL...held it overnight with stop & target in place...went to sleep after our posts.....i wake up around 6am and target hit for +29 ticks on 2 contracts....had to leave for town just after 10am, and arrive back about 2:50 pm ...just been reading since then.
The Renko chart you were watching...what size was the bar?....not much movement on ES compared to last days.
I see what you mean with not much movement....it says size 2, but looks more like 7 or 8 on my platform...btw this as regular Renko bar, and not BetterRenko as i think it is more like yours.
I think between your 2, and what i see here on my platform, it is close to size 7 Renko bar.
I am not sure on TradeStation for Renko size....but size 2 on TradeStation is way bigger then on Ninjatrader....is that all the selection you have for Renko is size 2?
Wait...i think i am looking at your chart wrong...is the vertical green line 5 pm ?
i see now....sorry wait i will post a 2 size....i think after looking really close on your chart ...that green line is the open ?
I must be tired...only had 3 hours sleep......i see we are on diff time zones...i edit with size 8 Renko chart...looks closer, but not the same.
Yea, the green is (near) the open at 830a. I'll mess around the settings to see if I can get it to match yours.
I think this is a close match, renko 1.7.
I missed that nice long downtrend from the top overnight, as it was still defined as an uptrend on my 5000tck chart, and I'm trying to stick with my rules and not take countertrend trades. sheesh. can't win.
yea...it is going to look like that with larger size charts...... i see now how that TradeStation does with the Number size for Renko.
Your Stochastic looks Good as it Signaled the Top, and Bottom...i do not rely on just one thing like an Indicator, but that would have been good trades.
You are right to stick to what you have seen that works...like Trading with trend.
Try size 1.5 to see if you get more movement, as in Tradeable movement...that might show you some more set ups that you may have Entered...in any case it should be smaller than what you posted.