$BPSPX - Chart Linkfrom Tues morning. In the
future whenever we see 2 whipsaws in a row, I'll try to point that
out in real time as the next or 3rd trade is always a nice
trigger
again the reason for this as I've explained before is that the
renko prices are following natural wave structure. Your big trades
are waves 1, 3, 5 and also waves A and B at times, while your
whipsaw trades are wave 2's and 4's and B's which are consolidation
chop waves. Consolidation waves naturally follow trending
waves, which is why you rarely get 2 back to back winning trades
with a Renko trend chart. The only time that would occur would be
going from wave 5 to wave A
Posted by retirefire on 26th of Mar 2020 at 12:05 pm
Thanks Matt, Patiently watching , waiting and learning. Waiting
for mechanical systems but You have provided nice live trades.
Sometimes I feel I missed the boat but putting that aside.
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That BPSPX trigger played out nicely
Posted by matt on 26th of Mar 2020 at 11:54 am
$BPSPX - Chart Linkfrom Tues morning. In the future whenever we see 2 whipsaws in a row, I'll try to point that out in real time as the next or 3rd trade is always a nice trigger
again the reason for this as I've explained before is that the renko prices are following natural wave structure. Your big trades are waves 1, 3, 5 and also waves A and B at times, while your whipsaw trades are wave 2's and 4's and B's which are consolidation chop waves. Consolidation waves naturally follow trending waves, which is why you rarely get 2 back to back winning trades with a Renko trend chart. The only time that would occur would be going from wave 5 to wave A
Thanks Matt, Patiently watching ,
Posted by retirefire on 26th of Mar 2020 at 12:05 pm
Thanks Matt, Patiently watching , waiting and learning. Waiting for mechanical systems but You have provided nice live trades. Sometimes I feel I missed the boat but putting that aside.