Renko Scalping with FxTurtle

[fxturtle]

It has been crazy after big boi EU broke 1.1050.

Turtle sees higher prices in the coming weeks, but keep in mind Turtle is wrong all the time.

Stay tuned for next weeks Turtle's take on EU.

Cheers,
FxTurtle

[fxturtle]

Where is EU now.

EU failed to break 1.08 as shown by the Turtle declining TL. To those of you who follow fib, 1.08 was also the 127% fib expansion as shown in the other chart.

I am short most of the time this week, with occasional longs as I see fit.

April21.JPG

FibExpansion.JPG

Cheers,
FxTurtle

[fxturtle]

Hello traders,

Where is EU going?

This is how I see it in charts.

Case for bulls

It broke 1.0713 to the downside and stopped right at 1.05204, which is 88.6 fib retracement from the low 1.0463 to the high at 1.1050.
Now she closed above the broken support at 1.0713 and this tells me that most likely we are going up farther in the next few days.

However, lets trade one day or one hour at a time.

Case for bears

1.0850ish is also a 61.8% fib retracement from high of 1.1050 to the low of 1.05204 and price stopped right there on Friday. Looking at my favourite renko, second attempt above 1.0850 failed. Small rising TL (blue line broken), however, bigger rising TL still intact

As long as price is below 1.0850, I will short. As long as price is above 1.07 the threat is real for price to bust 1.1050.

April19.JPG


Cheers,
FxTurtle

[fxturtle]

EU continue its fall. My ideal short will be near or at the yellow line with SL just above it. But I will also consider going short at 1.0635ish with SL above 1.0650.

April11.JPG

Cheers,
FxTurtle

[fxturtle]

Support at 1.0713 was broken decisively. Look for bounces in the red line or declining TL. Stop is above the blue line if u do not want tight stop loss.

Cheers,
FxTurtle

April9B.JPG

[fxturtle]

The trade above was close at 1.0752 for +44. I took two more short at the bounce at 61.8%. One short still open as of this writing. I will see how price behave at 1.0710ish. If she bounces from here,we might see a range for the next few days.

The up arrow is where I close the trade from the previous post. I was at 127% fib expansion.
The down arrow is where I took another 2 shorts.

Cheers,
FxTurtle

April9.JPG

[fxturtle]

EU broke the rising trend line in the 4HR and daily timeframes. My trades will be most shorts until 1.0710ish. Short every bounces to fib retracement measured from most recent high to most recent low. See image for an example of my latest trade currently open as of this writing.

Cheers,
FxTurtle.

April8.JPG

[fxturtle]

Sk,

I dunno about the 1.03 cuz I do not see the future. I trade what I see now and place my stops. If my trade does not bear fruit, I move on and wait.

Cheers,
FxTurtle

[srk121]

Seems like EU going down well below 1.03

[fxturtle]

EU, where are we?

Eu will either go up from here and reach or break the rising TL.However, if the swing low at 1.0710ish holds, price will most like gyrate between 1.07 - 1.1050 until such time she decides where to go.



Cheers,
FxTurtle

[fxturtle]

Where is EURUSD headed?

According to my turtle lines, we are going up and down between 1.0800 - 1.1050.

As long 1.07 is not broken, EU is most likely going to break 1.1050. When? I wish I know. There is a another turtle line above 1.1050 which was the low way back January 6, 2015 that could cap the rise.

Whatever direction she takes, I will cheer "Long Live EU" when she rises or "Die EU" when shes dropping.

Cheers,
FxTurtle
April4.JPG

[fxturtle]

Trade setup: Retest of previous broken support.

Previous low of broken support: 1.08012
Short at the close red bar: 1.0780
SL 20 pips: 1.08

Maximum profit reached: 52 pips (1.0728)

If TP 40:
End result: +40

If TP 20:
End result: +20

Cheers,
FxTurtle

April1.JPG

[fxturtle]

Trade setup: Retest of previous broken support.

Previous low of broken support (A): 1.0943
Short at the close red bar: 1.0927
SL 20 pips: 1.0947

Maximum profit reached: 70 pips (1.0857)

If TP 40:
End result: +40

If TP 20:
End result: +20

Cheers,
FxTurtle
March27D.JPG

[fxturtle]

Trade setup: Retest of previous broken support.

Previous low of broken support (A): 1.0949
Short at the close red bar: 1.0934.
SL 20 pips: 1.0954

Maximum profit reached: 42 pips (1.0892)

If TP 40:
End result: +40

If TP 20:
End result: +20

Cheers,
FxTurtle

March27C.JPG

[fxturtle]

Trade setup: Retest of previous broken support.

Previous low of broken support (A): 1.08904
First red bar. No go because it happened at 4:24 PM EST (It happened between time to avoid trading)
Short at the close of the second red bar: 1.0878. This bar was formed at 8:46 PM EST
SL 20 pips: 1.0898

Maximum profit reached: 76 pips (1.0802)

If TP 40:
End result: +40

If TP 20:
End result: +20

Cheers,
FxTurtle

March27B.JPG