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!!
On the 5 minute, I
Renko Trading -Set Up
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?