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I am not going to take any more trades for the day but will return in the early morning hours. I don't know if this is appropriate or not but I am in the February FIO Journal Challenge and if you like my journal I would appreciate your support. I believe the link to my journal entry is as follows:
I finally got filled today after being missed twice. Very frustrating. This trade is on the NQ. It is an aggressive entry and counter trend trade looking for +12 ticks. The trade just hit my target as I type but haven't been filled. Stop moved to break even and I was just now filled. That felt good!
I have been enjoying the cleanliness of "misalto's charts - Trading NQ only here's my journal" so much that I have been experimenting with several different renko bars again. It's seems so much easier to read the price action on. I intend to do a careful examination over the weekend to see which chart setups I like best for reading price action. Then I will have those charts up next to my volume charts for further examination during the week. Enjoy the weekend everyone!
Wishing everyone a great trading week! I am really looking forward to it. I spent a ton of time with the charts this weekend and came up with 3 renko bars and settings that I really liked:
UniRenko 3-9-3
Better Renko - 5
So Renko - 5
However, I have decided to stay with my volume charts and have tweeked each of the settings a little. I will be using the following volume settings this week:
Basically, I look to get them close to the average for 10 min candles and to where the signals are clear and a whole trading day from 6:00 pm EST to 5:00 pm EST can be seen on 1 monitor. I will show you my first trade on the chart with 10 minutes after this post.