The Forex Renko Charts FX Trading System PDF

The Forex Renko Charts FX Trading System

The Forex Renko Charts FX Trading System is a disciplined approach to controlling risk and
making money. These are your 2 primary objectives for trading.

topic: renko

Read more on E4T: Top 12 shortest forex strategy ebooks you can use today

Category: Forex

Author: Unknown

Language: English

Free Download link: At the end of the post

Introduction

The Forex Renko Charts FX Trading System is a disciplined approach to controlling risk and
making money. These are your 2 primary objectives for trading.
Over 95% of FX Traders fail for 3 reasons:
1. Lack Profitable Trading System
2. Lack Discipline to Follow Trading System
3. Lack Control of 2 Emotions: Fear & Greed

Renko Bar Charts offer the following advantages:
1. Visual Appeal
2. Zero Indicators
3. Objective Decision-Making Process
4. Filters Out Market Noise, i.e. “whipsaws”
5. Displays Areas Of Support And Resistance
6. Based On Price Action (movement of prices)
Renko bars remove the “distractions” seen on typical bar or candlestick charts. These distractions include “whipsaws” such as long wicks, false breakouts and price volatility.
Renko bars clearly define current trend and key price levels such as support & resistance and trend reversals.

Table of Contents- The Forex Renko Charts FX Trading System

1 Introduction page, 4
2. FX Accucharts page, 5
3. Price Charts page, 6-7
4. Renko Bar Basics page, 8-9
5. Buy / Sell Setups page, 10-13
6. Trader Types – Setups page, 14-16
7. Trade Exits page, 17
8. Setting Up Your FX Accucharts page, 18
9. Money Management page, 19
10. Summary page, 20

Excerpts

#1 Buy Setup Rules

The Forex Renko Charts FX Trading SystemA #1 Buy Setup represents a pullback in a current trend. Look for the following:
1. A trend (x-y) or sequence of green renko bars followed by a pullback (y-z) of red renko bars.
2. Wait patiently for the 1st green renko bar (Trigger Bar) to close immediately following the pullback. Enter trade here.
3. Make sure the last red renko bar (z) on the chart is higher than the last red renko bar in the previous pullback (x).
4. This setup is a higher swing low. Place your stop loss underneath this higher swing low (z) or the previous swing low (x)

Scalping – Setups

1. Determine How Much Risk: Money Management
2. Identify a FX trade setup (Buy or Sell Setup)
3. Enter trade
4. Manage trade/exits
Renko Bar Chart Parameters:
1. 2 or 5 PIP renko bars
2. Use a 10 TICK chart (Look for CLOCK icon)
3. EUR/USD, GBP/USD, USD/CAD, AUD/USD, USD/CHF, USD/JPY, NZD/USD, CAD/JPY, EUR/JPY and GBP/JPY
Trade Exits:
1. 3 Renko Bars Reversal:
3 renko bars of opposite color appear and close on charts. Use a 6 to 15 pip. Trailing stop if you want to “automate” this type of Trade Exit.
2 Fixed Amount:
100% exit at 1st profit target. Use a fixed take profit to “automate” this type of trade exit.

Download ebook The Forex Renko Charts FX Trading System

PDF

renko charts trading system, renko chart forex, renko charting system free download

Read more Forex ebooks:

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments