This screenshot was taken yesterday at 10 Est. on a 0.1 pt Renko chart.
You can see a pivot above the dark blue line and below the green line and that would make it my entry point.
However, even though there was a white bar closing ABOVE the green bar and into the yellow line section (yellow circle), the blue bar that followed(green circle) closed in BELOW the green line so there was no need for us to exit that 1st entry point because both the 1st and 2nd one were BELOW the green line.
In other words, to make sure that the 2nd entry will close in the yellow or red section, we first need to have two white bars in a row ABOVE the yellow/red line before exiting our green line entry.
If the yellow circle white bar would have done another white bar, the blue bar that followed would have closed right ABOVE the green line in the yellow zone.
Again, we have 3 entry possible.
1- Above the dark cloud (Midline4) but below the green line
2- Above the green line but below the yellow line
3- Above the yellow line but below the red line
- Merlin1-1.gif (5.9 KiB) Viewed 6389 times
