michaelmaggi
Long

Renko Weekly Binary Options

CME_MINI:ESM2015   S&P 500 E-MINI FUTURES
I am late posting this because my day job sometimes intrudes into trading time, but in checking the weekly Nadex S&P500             on Monday it looks very unsettling like it could be a down week, but with the chart finding support after a few days down by late Monday I decided to enter the market when it was temporarily in the money but the bid/offer had not quite caught up. I bought calls at 2078 for $60 and now they are holding well in the money and I am looking to close out the week holding my position into expiration.
The regular OHLC chart looked worse than the Renko chart although it was a bit of a leap of faith that the pattern would hold. So far, it is all good news.
Calls purchased at a strike of 2078 close at 2093 -- successfully -- $100 payout for each call (average $60 purchase Price.)
The strategy is simple and so far very positive. Purchase calls or sell puts near the money when the Renko chart shows a continuing trend and a reality check with the OHLC bar. I only deal with weekly options on Monday and Tuesday. If the positions are in the money I take the profit at any reasonble level. If there is a strong move in my direction I hold to expiration (Fridays) unless on Friday I could get an average drop on a Friday afternoon that could drop me below my strike Price. What is average? I ask my gut.
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