Takeprofit
AUDCAD 30M RENKO TRADING STRATEGY #2Renko Trading Strategy #2
Another profitable Renko strategy you can use is to focus only on the bricks.
No additional technical tool is required for this system.
We’re going to explore a very simple and yet very powerful Renko chart pattern that incorporates the wicks. This Renko price pattern looks for two consecutive bricks of the same color and both bricks have wicks.
The location of this Renko pattern doesn’t really matter. It can be at the end of a trend or it can be in the middle of the trend. This pattern has a very high rate of success if traded in the right context. You have to look around this two brick pattern and make sure the blocks are not moving back and forth within a trading range.
If that’s not the case then you have a green light to take the signal generate by this trade setup.
HOW TO TRADE AN EMA STRATEGY ON THE EURAUD 4HStep #1: Plot on your chart the 20 and 50 EMA
The first step is to properly set up our charts with the right moving averages. We can identify the EMA crossover at the later stage. The exponential moving average strategy uses the 20 and 50 periods EMA .
Most standard trading platform come with default moving average indicators. It should not be a problem to locate the EMA either on your MT4 platform or Tradingview.
Now, we’re set to go a look more closely to the price structure. This brings us to the next step of the strategy.
Step #2: Wait for the EMA crossover and for the price to trade BELOW the 20 and 50 EMA .
The second rule of this moving average strategy is the need for the price to trade BELOW both 20 and 50 EMA . Secondly, we need to wait for the EMA crossover, which will add weight to the bullish case.
We refer to the EMA crossover for a SELL trade when the 20-EMA crosses BELOW the 50-EMA.
By looking at the EMA crossover, we create an automatic buy and sell signals.
Since the market is prone to false breakouts, we need more evidence than a simple EMA crossover. At this stage, we don’t know if the bearish sentiment is strong enough to push the price further after we sell to make a profit.
To avoid the false breakout, we added a new confluence to support our view. This brings us to the next step of the strategy.
Step #3: Wait for the zone between 20 and 50 EMA to be tested once since the market goes down much faster, we sell on the 1st retest of the zone between 20 and 50. After the EMA crossover happened, then look for selling opportunities.
The conviction behind this moving average strategy relies on multiple factors. After the EMA crossover happened, we need to exercise more patience.
Never forget that no price is too high to buy in trading. And no price is too low to sell.
Note* When we refer to the “zone between 20 and 50EMA,” we actually don’t mean that the price needs to trade in the space between the two moving averages.
We just wanted to cover the whole price spectrum between the two EMAs. This is because the price will only briefly touch the shorter moving average (20-EMA). But this is still a successful retest.
Now, we still need to define where exactly we are going to sell. This brings us to the next step of the strategy.
Step #4: Sell at the market when we retest the zone between 20 and 50 EMA for the first time.
We go ahead and sell at the market price. We now have enough evidence that the bearish momentum is strong to continue pushing this market lower.
Now, we still need to define where to place our protective stop loss and where to take profits. This brings us to the next step of the strategy.
Step #5: Place the protective Stop Loss 20 pips above the 50 EMA
After the EMA crossover happened, and after we had two successive retests, we know the trend is down. As long as we trade below both exponential moving averages the trend remains intact.
In this regard, we place our protective stop loss 20 pips above the 50 EMA . We added a buffer of 20 pips because we understand we’re not living in a perfect world. The market is prone to do false breakouts.
The last part of our EMA strategy is the exit strategy. It is based again on the exponential moving average .
Step #6: Take Profit once we break and close above the 50-EMA or you determine the TP strategy
In this particular case, we don’t use the same exit technique as our entry technique, which was based on the EMA crossover.
If we waited for the EMA crossover to happen on the other side, we would have given back some of the potential profits. We need to consider the fact that the exponential moving averages are a lagging indicator.
The exponential moving average formula used to plot our EMAs allow us to still take profits right at the time the market is about to reverse.
Note** The above was an example of a SELL trade. However, because the market goes down much faster, we sell on the 1st retest of the zone between 20 and 50. After the EMA crossover happened.Use the same rules – but in reverse – for a BUY trade except wait for 2 retest of 20/50 ema zone then enter on the 3rd retest. The two successful retest of the zone between 20 and 50 EMA gives the market enough time to develop a trend.
J.C. PENNEY BUY!!HAPPY HOLIDAYS!
Its Holiday Season and we just had positive earnings. This trade look good because we have seen a spike in volatility meaning the down trend is weak and coming to an end.
XBT/USD Profits taken, Trade closed 1st Target reached. Profits taken. Trade Closed
Reason: BTC is still trading in a downtrend, this was a short term scalp trade and i did not feel comfortable having a position open to try gain a few extra % of profit whilst having a long open in a downtrend.
overall profit 2.7% / 2 due to using half of my futures capital on this trade = 1.3% gain on futures portfolio thanks BTC :)
Back to the charts to draw up the next trade
$APHA Call order Placed. #cannabistocks #ichimokuPossible long here for $APHA Small call order placed. See chart for further details.
EURUSD 1H BITCOIN SIGNAL STRATEGY INDICATORBitcoin Signal Indicator works on all markets and time frames
Bitcoin Signal Strategy Indicator shows entry and exit/take profit signals
Bitcoin Signal Strategy Indicator has an adjusted trailing stop
TP is adjustable. This pair was a 2 to 1 reward risk ratio
1st trade exited with price hitting the trailing stop
2nd trade is still active rising to take profit level
PM me if you have any question i can help you with.
BTCUSD 1H BITCOIN SIGNAL STRATEGY INDICATORBitcoin Signal Indicator works on all markets and time frames
Bitcoin Signal Strategy Indicator works on all cryptocurrency pairs
Bitcoin Signal Indicator shows entry and exit signals
TP is adjustable, this pair was set for 4 TP to 1 risk
PM me if you have any questions I can answer for you
$ICC Put limit order placed. #ichimokukinkohyo #timetheory $ICC looks bearish here looking at the 1D and 240m time frames. PUT order placed. See chart for details.
AUDNZD 4H LONG TRADEThere is a lot of space between price and the ma's
NZD fell faster than the AUD with a bullish run
When this pair creates so much space from the ma's there is usually a rapid move back
Watch for direction with the Macd cross above the Red signal line and zero line
My Buy Stop is at 1.0705
My Buy Take Profit is at 1.0749
My Stop Loss is below fractal low
USDJPY 15M STE PULSE INDICATOR STRATEGYSTE Pulse Indicator Strategy post entry - stop loss - take profit signals
Once take profit is hit indicator adjusts stop loss and new take profit level
Pulse bars on bottom of chart -
Bright red/green indicate breakouts
Dark red/green indicate pull backs
PM me if you have any questions I can help with
USDCAD 4H SHORT TRADEPair has failed to make a new high
Watch for bearish breakout of lower trendline
Conservative entry will be support area breakout of 1.3065
More aggressive entry can be on a 15m chart break-hook-go of the 4H lower trendline
Sell Take Profit at 1.3035
SL above trendline
Watch Macd for direction