RenkoBuddy

RenkoBuddy

USDJPY - SHORT ORDER SET UP / STAGE 3/4 SL: 117.20 ENRTY: BEARISH CONFORMATION CANDLE CLOSE (EST: 18:00 GMT) EXIT: PRICE CLOSES ABOVE MA20 4H trend strategy set up nearing completion, awaiting bearish conformation candle for test of MA20 as new resistance. RULES: SHORT ORDERS 1. MA20 BELOW MA60 2. PRICE BELOW MA20 3. PRICE TEST MA20 AS RESISTANCE 4. BEARISH...

RenkoBuddy Updated 

USDJPY 0.17% - Long Order Anyone who follows my ideas should know I trade off a basic 4H MA trend strategy. GMT (02:00) will be the end of a correct Long setup and entry for this pair. Rules: Long 1. MA20 above MA60 2. Price must cross MA20 from below 3. Test MA20 for support 4. Create bullish 4H candle after test of support Entry: Enter Long on close...

RenkoBuddy

USDJPY - Long Order Anyone who follows my ideas should know I trade off a basic 4H MA trend strategy. GMT (02:00) will be the end of a correct Long setup and entry for this pair. Rules: Long 1. MA20 above MA60 2. Price must cross MA20 from below 3. Test MA20 for support 4. Create bullish 4H candle after test of support Entry: Enter Long on close of Bullish...

RenkoBuddy

Hello All, I have been very sceptical over the holiday about going long on USD/JPY. Telling myself over and over that price has topped and will fall from now. Until... I looked at previous price action and noticed this identical movement in price from Oct 14 - Jan 15 where price made the same 1700+ pip move in a short amount of time, followed by a similar 6-8 day...

RenkoBuddy

GBPAUD - 4H TREND FOLLOWING STRATEGY GBP is losing momentum over a few pairs from current uptrend. Lower highs are being made. MA gaps are closing and should cross and stay below MA60 indicating new downtrend. Currently looking for a test of resistance MA40 below MA60, with a bearish conformation candle for entry. Additional strength to theory - Entry from...

RenkoBuddy Updated 

GBPJPY Been waiting a few weeks for the current uptrend to show signs of fatigue. Two very important MAs for this pair have crossed confirming that the top has been found IMO. Price has now tested MA20 as resistance below the MA50 Setup for Short order will be after current 4H closes bearish. SL set to top of previous 4H candle 145.746 + Spread TP when price...

RenkoBuddy

This current LONG order is based off my 4H trend following strategy. I use the 40MA as a support barrier and LONG orders can only be made when 40MA is above 120MA. Trade entered at the end of 4H close (17:00 GMT+1). SL will be move to entry (£0.00 loss if hit) after 4 x 4H candles (16H) if price is above, otherwise I will take the full loss. Second SL move will...

RenkoBuddy

This current SHORT order is based off my 4H trend following strategy. I use the 20MA as a resistance barrier and SHORT orders can only be made when 20MA is below 50MA. Trade entered at the end of 4H close (5:00 GMT+1). SL will be move to entry (£0.00 loss if hit) after 4 x 4H candles (16H) if price is below, otherwise I will take the full loss. Second SL move...

RenkoBuddy

12345 Pattern Happening Price is at S1 ready to complete 4-5 leg of pattern to R1. We should see a corrective ABC pattern if current 12345 is completed, this should start at the important 1.8000 level and break down to the historic levels attached to chart (1.65000 and 1.45000). Repeat symbol is showing that price reversed previously at 1.7000 level. I have...

RenkoBuddy

For any traders wanting a simple support / resistance trade. A Buy could be made if bullish candle closes on 4H. Moving averages and BB is NOT in use for these concepts. I feel we have 2 scenarios about to happen this week!! Please read the above views and comment your own opinions for discussion. I am going to play the 1st scenario as I like the previous...

RenkoBuddy Updated 

Along side my trend channels and range trading, I like to use this set up for some extra pips and when back tested works very well over most months (Will probably move to only this strategy when I can guarantee consolidation is not taking place) It cuts all emotions out of trading when I use it with the right money management. Everyone should know that moving...

RenkoBuddy Updated 

Please bare with the clutter on this chart I just have a few ideas floating about for a Bullish move. Last week I felt that price has reached the 1D resistance trend line and needed a retrace (0.618%) before pushing higher. I now feel that 0.5% is the level that price will bounce from. TECHNICAL REASONS: - We have 2 MA's about to cross since BREXIT (20/50) -...

RenkoBuddy Updated 

GBP/JPY has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last 2 weeks of bullish gains. Traders should wait for a breakout of the pennant/flag that contains this pattern. Wednesday - (Jul) Manufacturing Production, BoE Gov Mark Carney Speaks and BoE reports on current...

RenkoBuddy

EUR/GBP price made a bearish move to the mental post-brexit barrier and strong 1D support level. We are currently following a comfortable Elliott-Wave pattern hitting A.B,C,D waiting on E Daily Bearish hammer formed at 1D support level (0.833) which is a strong indication of a reversal. Heiken Ashi candlesticks should turn Blue (Bullish) tomorrow if price...

RenkoBuddy Updated 

USD/JPY has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last week of bullish gains. Traders should wait for a breakout of the support zone as price tested for support 02/09 12:00 (GMT+1) We have a supply zone above price and a demand zone from 102.37 -101.72. Expect...

RenkoBuddy

GBP Pushed higher against USD and kissed the strong 1D resistance. Price formed tweezer tops indicating that the move may run out of momentum and seller will kick in again. Price is currently within a area of selling pressure. RSI is showing divergence indicating that the bullish move may reverse. Possible support zone at 1.3058 -1.3156 (Also around the 200MA)...

RenkoBuddy

After seeing GBP/JPY make a large move over the past 2 weeks to the strong 1D resistance line, I feel a retrace is necessary for price to break the resistance and continue towards the 145.00 level. From 138.1 - 143.25 sellers have kicked it and stop price moving above. Concept 1: Sellers stop price passing the resistance and we retrace to 132.5 (61.8% Fib from...