michaelmaggi
Short

Renko chart shows weakness

CME_MINI:ESU2015   S&P 500 E-MINI FUTURES
I purchased a put at 2107.5 strike for $58 and
a put at 2095.5 strike for $80
because of the weakness showing in the Renko chart. My target of 2100+ was hit last week and my call options all closed in the money. It seems time for a breather and the Renko charts are showing weakness for now. If things turnaround I will watch for that since the overall trend is up. This counter-trend move could be short lived. A profit tomorrow would be enough for me but we will have to watch Renko for direction.
Added another put at strike 2131.5 for Premium of $11.75 yesterday. This morning all three positions in the money.
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Price closed on NADEX for 20278.55 so all positions closed out in the money for $100 payout on each put. RENKO wins again. I think the weekly NADEX options are easier to manage than the short term options. This gives an easy weekly cycle for my trading that doesn't demand excessive daily worry and attention.
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snapshot

Link to the final charts at closing Friday afternoon.
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