Renko delivers on gbp/aud on a quiet day

Renko delivers on gbp/aud on a quiet day

There are many advantages to using a Renko chart one of which is it can help to deliver good trading opportunities even in difficult, tight range markets. One example is from the gbp/aud on a quiet day yet when set at a fixed value of 2 pips per brick managed to produce over 80 pips. The version of the Renko shown here is for MT5 and allows traders to select either a fixed value (as we have on the chart) or use the ATR function that is built into the indicator. And this chart also includes the Quantum trends and trend monitor which can help with entries and exits as well as holding a trend....
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The volume point of control confirmed it all!

The volume point of control confirmed it all!

Another session for day trading the US indices where patience and more patience was required, but as always it’s volume spread analysis coupled with the Quantum Trading tools and indicators which helps to keep us safe and stop us from jumping in and then regretting this decision. The volatility indicator was once again much in evidence as indeed was the accumulation and distribution indicator for NinjaTrader, helping to define those key levels of price support and resistance which are so important. The volume point of control was also much in evidence with the primary US indices of the ES, the YM, and the NQ all rotating around key levels as price agreement was reached in the faster timeframes. The tick charts too also confirmed this lack of interest and participation with the tickspeedometer indicator delivering very clear messages of danger ahead as the red warning signals flashed loud and clear. The messages were clear – wait and be patient. The trades...
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Now that’s what I call a reversal!!

Now that’s what I call a reversal!!

A terrific session on the US markets as the plunge in equities during the morning, was reversed in the afternoon with an equally strong recovery, with the three sister indices all closing on the day with an extreme wick to the lower body and a close near the high of the session. A fantastic trading day and one with many VPA lessons, not least the importance of understanding the relational aspects of market behaviour of bonds and currencies all of which sent clear signals of this change in sentiment. https://youtu.be/sp76-cYO6lU...
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