Posted by poohnana on 10th of Jun 2010 at 11:05 am
Could you explain for us novices what you mean by a
10 minute confimation break? Also on the 5 min do you use 2
red boxes and a PSAR sell signal along with the Slo Sto going below
80? Thanks
On the 5 minute, I don't use red boxes, i.e. 2 red boxes could
give a false signal. A 80 line break is imperative. To ensure the
safety of the trade, I look to the 10 minute 80 line break to
confirm the 5 minute break. This means that you don't get in at the
apex of the reversal but you increase your trade safety with a
slight time delay. If you notice today, the 5 minute had 2 red
boxes and then reversed back up. No trade, no loss!!
Could you explain for us
Renko Trading -Set Up
Posted by poohnana on 10th of Jun 2010 at 11:05 am
Could you explain for us novices what you mean by a 10 minute confimation break? Also on the 5 min do you use 2 red boxes and a PSAR sell signal along with the Slo Sto going below 80? Thanks
On the 5 minute, I
Posted by davidd on 10th of Jun 2010 at 11:23 am
On the 5 minute, I don't use red boxes, i.e. 2 red boxes could give a false signal. A 80 line break is imperative. To ensure the safety of the trade, I look to the 10 minute 80 line break to confirm the 5 minute break. This means that you don't get in at the apex of the reversal but you increase your trade safety with a slight time delay. If you notice today, the 5 minute had 2 red boxes and then reversed back up. No trade, no loss!!
and the 30 min chart?
Posted by 1800promote on 10th of Jun 2010 at 12:01 pm
and the 30 min chart?