Keeping it Simple

The chart below is a Renko with wicks chart. Seems the best of all worlds. The chart is very clean, easy to see what's happening, not much to distract me, no conflicting information. Seeing the wicks on the Renkos is a real plus. This is new in MultiCharts, but MarketDelta have had these for a long time. The Mom Dots work really well against the bodies of the Renko as stops. One of the other pluses in MultiCharts is true 64bit processing with multi-threading - no more memory issues. I can now load lots of charts, all with lots of tick data.


I'm trading the ES in my afternoons (U.S. morning) again. London morning started more bullish. I was trading the DAX. By the time that the RTH was getting close, the gains had gone and we were close to UNCH as the ES opened. The clue was that yesterday's close was inside the VA, so a strong entry into the VA could be a good short. At least that was my plan. I did go short but cut it at a small profit as there was no follow through. It set up as a SHORT again a little before the Housing Starts number. I had my Fav Fib as a target. I covered there and the market was quite oversold, so I was fairly confident that there would be a bounce from there. And so there was.