Renko Day Trading Training Videos 2017

Renko Day Trading Training 2017

The videos on this page are the Renko day trading videos that have been done for 2017.  As you can see from the video descriptions, we are Gold Renko trading and Oil Renko trading – and for index futures trading, the emini russell [RTY] is my favorite.

You can also watch Renko training videos from 2016 that are still current, for how the method is being traded, by clicking the link:

Renko Chart Day Trading Training Videos 2016

Renko Day Trading Notes

  • Renko day trading method and system videos
    • You can find the first videos discussing Renko system trading by scrolling down this page to the following headings
      • Modifying Renko Trading Method For Renko System Trading
      • Adding Price Envelope Reverse To Renko Trading System
  • Renko chart day trading contracts and Renko ‘base’ chart brick count
    • CL and GC – Renko brick 3
    • YM and RTY – Renko brick 3
    • NQ – Renko brick 4

 

Renko Day Trading Video316:

  • Renko emini dow opening starting with price identification (a) support was the overnight session initial high that broke out as resistance and shifted to support on multiple retests (b) resistance was the actual overnight high
  • Discussion of multiple potential opening trades and why they weren’t done (a) price envelope reverse buy that was filtered by resistance (b) price envelope reverse sell that had an up trendline as support (c) price envelope reverse-price high breakout, with falling fast momentum
  • Although the potential price envelope reverse sell had the uptrend as support, there was an even bigger issue that would have kept the trade from being done regardless of whether the trendline occurred or not
    • One of the primary things focused on during this video was what I have been referring to as a random reverse-price envelope reverse
    • In this case, price had just broken out to a higher high and the previous high made no attempt to hold as support AND there was a 5 brick reverse down [causing the price envelope reverse] that occurred in 23 seconds
  • I have been avoiding trading these random reverses BUT this leads to another question that was discussed – IF you trade a Renko price extreme reverse, does this also need to become a random reverse in order to be a profitable trade?

Renko Day Trading Video315:

  • In Renko video 312, I referred to a trade that I missed and that should have been my first trade – discussion of that trade setup shows a triangle breakout buy that would have been a +4 +8 +12 initial to the double partial trade that was done
  • Also reviewed was drawing trendlines across the chart [in this case the up trendline in the triangle] and how they can act as support or resistance and thus be used for failure break trades – the video discussed a trendline break2 with mex flow and a fast momentum hook that was also a triple bottom breakout of a potential consolidation support price AND was used for a 2nd addon trade
  • Review of price compression inside of a range -vs- consolidation and horizontal areas that have defined highs-lows that keep rejecting – these price compression areas often tend to develop a triangle around the price moves AND the breakout of a triangle often leads to a continuation move
  • Discussion of open Renko emini russell trade1 that didn’t until 8:37am – you will see how price went across the chart between support and a down trendline that was resistance, including 2 price envelope reverses at the trendline that rejected and would have been losing trades if done — the first trade was a failure break of the down trendline, as a break2 with mex flow and a fast momentum hook

Renko Day Trading Video314:

  • Renko oil trading early morning starting with price identification (a) resistance = when first looking at resistance it looks like it comes from multiple rejects of a price retrace from the lows – however, this is actually price action confirmation of a price that was already on the chart as support and is shifting to resistance (b) support = another price that was already on the chart from previous day[s] as a double top that breaks and shifts to support
  • Renko oil trade1 = price envelope reverse – trade2-3 = price extreme reverse + price envelope reverse addon – there is also a midline reject with mex flow and a hook that is discussed for ‘total’ setup components as a potential addon2
  • Renko oil trade3-4 = price extreme reverse + price envelope reverse addon – with management discussion for full brick closes above-below the midline – however, 1 brick close above the midline was ‘ignored’ but a 2nd brick close above the midline was used to exit an addon
  • A full brick close above-below the midline is used for management, because of the frequency that it is followed by a price envelope reverse – however, a full brick close to a trade that (a) has no partial profit (b) is a retrace that is only 2 bricks against a trade (c) still shows midline slope + mex flow in the direction of the trade – is not the intended use of this management ‘tool’

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video313:

  • Renko oil trading early morning – looking at support = double bottom low retrace from ‘strong’ previous day up move and resistance = double reject of high after session break — do note how tight this range is without a breakout and the potential for not having room to trade
  • Trade1 = 4 brick midline reject with mex flow and a fast momentum hook + trade2 addon = 3 brick midline reject and a fast momentum – further discussion [like previous day video] of addon setups and potential of doing a second addon depending on the setup — if I had started trading sooner, what was my addon would be a good addon2 setup = 4 brick-3 brick midline reject pattern through a previous diagonal, with mex flow that is not extreme and a 2nd hook that has a smaller amount of retrace
  • Good example of the potential strength of addon trading – the 2 trades described above both gave +4 +8 double partials, followed by a +10 price extreme reverse that saved a +4 +5 give back if this was followed by a full brick close below the midline and a price envelope reverse
  • Good example of the problem when ‘base’ trade setups move into a triangle, however, in this case, the reverses gave only a 1 brick + 2 brick losing trades – followed by a triangle breakout setup that gave a +4 +8 double partial, along with a swing addon setup that was profitable — don’t quit trading ‘simply’ because you have a couple of losing trades when the market doesn’t go into a tight sideways range or consolidation

Renko Day Trading Video312:

  • Renko oil day trading after EIA oil report – and although the chart has a number of very good trade setups [apparently], when they are reviewed and we see that they would have be traded using ‘5 second’ bricks, it becomes clear that they would be impossible to trade until market speed becomes more normal
  • The Renko oil chart slows down in between support and resistance and compresses BUT note the first trade that could have been done that I actually missed – do you see a triangle breakout with room to resistance to be traded that was done before my trade1?
  • After missing the triangle breakout price moves to resistance as a double top AND there is a price break2 with mex flow and a hook – the Renko trading price failure break became my first trade
  • A further look of the up trendline from the triangle and from a potential sell scenario discussed after the price resistance reject is continued to be drawn across the chart — this led to a discussion of trading multiple addons and the additional components you would want the setup to have -vs- a ‘base method’ trade setup only
    • After being short a price envelope reverse and midline reject addon, there is a 2nd addon traded = midline reject with mex flow and a hook + the combination of a triple break-trendline break, with partial room back to support and the rest of the trendline if through

Renko Oil Chart Day Trading Strategies

Renko Day Trading Video311:

  • Renko emini russell open period day trading and discussion of breakout trades -vs- method trades – I do not want to do breakout trades only, but pattern breakouts that resume direction and have a basis for continuation can be very good trades
  • Renko trade1 = bull flag breakout resuming a ‘big’ directional move up – entry actually occurs before full mex cross – Renko trade2 = price triple top breakout addon, with higher lows and fast momentum lead into the trade — the breakout occurs giving a +4 +8 +12 initial trade profit and a +4 +8 +7 price extreme reverse profit on the addon BUT again, not the additional components to these trades -vs- a trade that would be a breakout only
  • Discussion of 2 potential swing resumption trades that could have been done as addons but weren’t done because of the momentum read – they were followed by midline rejects with mex flow and a hook, so profitable addons were traded BUT that was not the point, the resumption trades did not appear to be setups real time and the midline rejects may not have occurred
  • Discussion of 2 price extreme reverses followed by a midline reject that could not be traded as a resumption trade – and why in 1 case I took a 3 brick exit and in the other case I held at 3 bricks against the trade and would have waited for the 4 brick stop

Renko Emini Russell Day Trading Strategies

Renko Day Trading Video310:

Renko Day Trading Video309:

Renko Day Trading Video308:

  • Renko gold trading price identification (a) resistance = previous day high before a breakout to higher high that included to test-rejects of the price is support – note that the first trade is below this price, so it’s resistance (b) support1 = double bottom low since session break (c) support2 = an earlier high from the previous day that also has price tests-rejects as support
  • Renko gold trade1 = double bottom-price envelope reverse-trendline breakout that went to a price extreme reverse sell, giving a +4 +5 +5 exit — NOTE (a) the confirmation of resistance by the brick test (b) how the price extreme reverse gave 2 bricks of giveback on a winning reverse -vs- 4 bricks + 5 bricks on the 2 trailers
  • Consider the triangle breakout-price breakout trade setup -vs- a triangle breakout 1 brick from price – while the first setup could be traded, the second setup is filtered and cannot be traded, regardless of the Renko trade setup pattern
  • This trading period was not a good one when viewed as win:loss, however consider management (a) 2 losers that were 3 brick losers (b) the extra profit gained [reduced giveback] by the price extreme reverse winner – these trades were only 4 bricks of total loss — AND then there was 1 trade that gave an initial trade +4 +8 +12 exit +4 +8 +9 price extreme reverse – showing the importance of addon size for the bigger winning trades, along with the importance of reducing giveback with the price extreme reverse

Renko Gold Chart Day Trading Strategies

Renko Day Trading Video307:

  • Renko gold trading price identification (a) resistance1 = high after session break that was also tested as a brick break double top reject – this is also the ‘center’ line (b) support = previous day high (c) resistance2 = double bottom from 2 days ago that is higher than gold has traded since then
  • Discussion of the relevance of the prices and whether they belong on the chart, because the distance between the ‘center’ line and resistance1 is only 5 bricks, which gives no room to trade – this becomes an even bigger problem after a new high is made and there would be 3 trading prices in an 11 brick range — if all of these prices are going to remain on the chart, then gold becomes untradeable while in that range
  • Renko gold trade1 = support test-price envelope reverse that also had mex flow because the indicator had previous crossed BUT price did not move to target resistance and went into consolidation — discussion of trade management for an open trade that goes into consolidation, including holding the trade on a price envelope reverse before stopped out
  • Apparent price breakout entry after a price envelope reverse was not traded BUT further discussion and the addition of ‘pattern’ lines, show that the trade was actually a combination price-triangle breakout and fine as a trade setup

Renko Gold Chart Day Trading Strategies

Renko Day Trading Video306:

  • Renko gold trading – gold had always been one of my main trading contracts with oil [and the index futures] BUT gold went through a period where there was a lot less volume and movement — but recently I have been trading it again – NOTE that I would make the same decision with any of the contracts based on volume and range
  • Renko chart trading price identification (a) support = double bottom low after the session break (b) resistance = previous day low that shifts-rejects as resistance and goes to lower lows (c) center line = the next lower low that also shifts-rejects as resistance multiple times ahead of another lower low – this Renko price is first resistance for the current day’s trading
  • Renko gold trade1 = move to resistance and breaks as a midline reject with mex flow and a fast momentum hook, along with a price break2 with mex flow – this second component is known as a price failure [price fails to remain resistance] setup and adds continuation potential to the trade
  • Renko gold trade2 = price envelope reverse + price reject with mex flow and a fast momentum hook that resumes the sell swing, because there was a price envelope reverse buy on a green brick-against mex flow, where the initial trade was held — further note that there was also a price envelope reverse buy where these trades were held, because this was 1 brick from price and filtered + the open trades only had 2 bricks of loss at this point

Renko Gold Chart Day Trading Strategies

Renko Day Trading Video305:

  • Renko oil support and resistance prices from previous day (a) initial low after session break that was later confirmed when it broke and shifted to support (b) previous day low – the first support price broke and rejected as resistance, making the previous low support instead of a 2nd target price
  • The 2 Renko trading prices defined a range of 10 bricks, giving an okay amount of room for trading, but would be a problem if there was price compression inside of that range – trade1 came after a higher low [didn’t trade to support], which was a 3 Renko brick losing trade and then price went into consolidation and I stopped trading
  • Avoiding trading inside of consolidation and using price filtering avoided 4 additional losing trades – trade2 was a resistance double hold-reject + trendline breakout that traded down to support and broke out [double partial trade] giving more range for trading, but again we went into consolidation again right under the support price shifting to resistance
  • Consolidation broke out again, but this time without any trade entry, and was followed by a price extreme reverse losing trade – but it was followed by a price swing resumption [only 2 bricks of loss – double partial on the winner] that was followed by a price extreme reverse that was a winning trade
  • Resistance reject initial reverse that was held with mex flow and only 3 bricks of loss on a price envelope reverse + a swing resumption addon that also included a trendline breakout – again breaking out and giving a +4 +8 +12 initial profit and +4 +8 +10 price extreme reverse exit

Renko Oil Day Trading Strategies

Renko Day Trading Video304:

  • Renko oil trading and discussion about the price action that had me resume trading after going flat (a) resistance as the previous session break high, broke out to higher highs (b) the previous high shifts to support but does not hold (c) after breaking the support price it rejects as resistance again and gives a Renko sell setup
  • Renko price envelope reverse but mex has not crossed yet [no trade], followed by a midline reject with mex flow but no hook – can you take this trade — discussion of the midline reject entry price being the same as the price envelope reverse price and replacing that entry, but if the price envelope reverse had been traded the midline reject could not be done as an addon trade
  • Initial trade + addon trade both gain partial1, but before the second partial there is a price extreme reverse that becomes a losing trade – Renko trade management discussion of how the price extreme reverse saved more bricks of giveback on the open trailers than it lost as a trade AND considering that this is a trade that is profitable more than half of the time, it typically gains a profit + saving on the amount of giveback
  • Comparison of this Renko oil trading period with previous trading videos and how there was continued price expansion and trading room -vs- price compression and a reduction of trading room – although part of the period was very frustrating as there were 2 buy losers and no way to enter a very good sell swing, and that these losing traders were not a reason to quit trading as was done during price compression — which was then followed by a buy that had a +4 +8 +12 exit on strength and a +4 +8 +12 price extreme reverse exit-sell that was also a winning trade

Renko Oil Day Trading Strategies

Renko Day Trading Video303:

  • Renko emini russell chart and very clear overnight range (a) overnight low breakout to lower low, shifts to resistance (b) new overnight low shifts to support after price extreme reverse-price envelope reverse — NOTE the previous diagonals created inside the range and how we can get a sense for price continuation and ideally a new breakout -vs- compressing inside the range and not trading to the high-low
  • Discussion of the emini russell price movement through the previous Renko diagonals, looking for moves that test the extremes BUT then looking for possible range compression inside of the range after a lower high and lower low — also NOTE how an inside price [resistance since the ‘bigger’ swing is down and we go back down again] is determined from a lower high double top
  • Discussion of the opening trading and why 2 price envelope reverses were not traded after the open (1) came from a 4 brick down-4 brick up into the reverse that was only 16 seconds (2) came from another 4 brick down-4 brick up into the reverse that was only 23 seconds — these ‘fast market’ reverses-moves are not what want to trade
  • Management discussion of partial2 [when trading 3 contracts or more] AND taking a +4 +5 partial -vs- +4 +8 — based on a market that was trading in a relatively tight range and reducing size and giveback, after what is a price extreme reverse at momentum extremes that were price filtered as trades

Renko Emini Russell Day Trading Chart

Renko Day Trading Video302:

  • Renko emini russell day trading chart price identification (a) overnight high (b) support = Renko price from previous video that was actually a price from the day before and has remained relevant across the chart – NOTE the discussion of this price -vs- the overnight low 1 brick higher and filtering for both prices ‘as one’ (c) inside price from price action – low before the high that shifts to an ‘M reject’ and a move to the low
  • Renko emini russell open trade = resistance double reject-price envelope reverse through a previous diagonal BUT the target is price support and is only 5 bricks away, showing how tight of range we have to trade in and again focusing on potential sideways price movement and not continuing to trade
  • After a lower high double top-higher low double bottom that was inside the range that was already tight, I stopped trading until the following setup (a) midline reject with mex flow and a fast momentum hook (b) into the range-consolidation triple bottom break that was also into an across the chart double-triple bottom break
  • This trade broke out and went to a price extreme reverse that was filtered, so the trade was held and broke out and went down even further – this was a very profitable trade BUT note that the midline reject was actually the 2nd such setup, so I missed having an addon that would have also been a multiple partial trade — but that was not what was indicated at the time of the trade and wanted additional continuation confirmation before trading again
  • Management discussion of partial2 [when trading 3 contracts or more] AND taking a +4 +5 partial -vs- +4 +8 — based on a market that was trading in a relatively tight range and reducing size and giveback, after what is a price extreme reverse at momentum extremes that were price filtered as trades

Renko Emini Russell Day Trading Chart

Renko Day Trading Video301:

  • Renko emini russell day trading chart price identification (a) support = previous day double bottom that was rejected [confirmed] by double top during overnight (b) resistance = previous day high
  • Discussion of the current day’s high as an inside resistance price, before the actual resistance price – with further discussion of  using this price because it was higher than the overnight high, which would have been replaced by the overnight high if it had been a higher price
  • Review of opening trades in the context of price action and how price wouldn’t move back to support and was even further away from a move to resistance, along with midline reject continuation trades that didn’t move either – and after multiple losing trades and the tight range, the decision was to stop trading until there was range expansion AND another discussion of not simply continuing to trade, regardless of market conditions, because it was ‘trading time’
  • Although ended up trading again before a breakout leading to expanding the price range, consider the additional ‘selectivity’ of the trade that was done (a) a move to support that reject with a ‘fakeout-breakout’ as a start point (b) reject-price envelope reverse that gave the most room to the daily high as resistance that had for any trade yet
  • Price extreme reverse-price envelope reverse addon and discussion of taking a stop on the addon but holding the initial trade at resistance and with only 2 bricks of loss – followed by an addon re-entry, not from another price envelope reverse that would really be a consolidation area double bottom BUT with a midline reject-with mex flow and a fast momentum hook that was also a consolidation triple break

Renko Emini Russell Day Trading Chart

Renko Day Trading Video300:

  • Do you have a set trading time when you trade, either based on when you are available or when the market you trade typically does the best for you AND what if during this time (a) the market consolidates or compresses (b) the market won’t trade through previous diagonal and go to range extremes let alone expand (c) the market goes sideways straddling a center area — will you continue to trade because it is your ‘trading ‘time’?
  • Renko oil day trading and further discussion about the points above and the chart read and market conditions that caused me to stop trading during my ‘trading time’
  • When it was clear that the market was making higher lows and higher highs, instead of continuing through previous diagonals that the Renko method views as ‘price ease of movement’ – the first thing I did was stop trading price envelope reverses and added selectivity to trading by trading midline rejects with mex flow and a fast momentum hook, because those are regarded as continuation trades
  • AND when a couple of the Renko continuation trade setups didn’t move, I stopped trading – until there was some price expansion and a reject to support, giving 5 bricks of room to the next resistance point-6 bricks to the brick break test of that price

Renko Oil Day Trading Chart

Renko Day Trading Video299:

  • Renko chart emini dow day trading, beginning with Renko price identification that has remained relevant over multiple days – looking at continued relevance of the price through price action, giving the sense that others are reacting to the price -vs- looking for as many and/or new prices to use
  • Renko trading the emini dow or emini russell indexes -vs the emini nasdaq – I get a number of emails telling me that the NQ is too fast to trade and not sure how to answer besides saying then don’t trade it — that being said, I understand the issue [and including some of the whys behind it] and how it will spend time going sideways that is untradeable in itself, just to have a fast breakout that that is missed, followed by consecutive losing price extreme reverses with no resumption trades or entries that are also too fast
    • I don’t like the NQ much, spending a lot more time recently with the emini russell and even the emini dow, and I am also seeing the gold chart look a lot better recently, which would be a very good thing – in any case, you want to maximize your trading of 2-way diagonal markets, while avoiding sideways and consolidating markets AND if a specific contract isn’t suitable for you, then go to something else
  • Review of the fast momentum hook, trading component of the midline reject trade setup – discussing the importance of fast momentum leading price continuation with slow momentum flow and looking at a number of potential hooks and whether they would be ‘method suitable’
  • Being able to reverse through a previous diagonal and include a midline reject with mex flow and a hook, led to an initial trade with a +4 +8 +12 exit on strength and an addon with a +4 +8 double partial and price extreme reverse +6 and only 2 bricks of giveback

Renko Day Trading Video298:

Renko Day Trading Video297:

Renko Day Trading Video296:

Renko Day Trading Video295:

  • Renko oil chart price identification comes from the previous day[s] (a) double top resistance (b) double bottom support – note that these are swing double tops-bottoms and not the highs-lows of the day (c) lower support coming from a price that was a double bottom and then broke and rejected as resistance and went lower – since it subsequently broke and held again as support, it became the next lower support price
  • Discussion of how the resistance price was adjusted, along with talking about whether I made a mistake because of how trading was then affected (a) resistance breakout to higher high and a price envelope reverse (b) move resistance to the higher high (c) place a support line at the low before the higher high — although the price move from the low before the high to the higher high was relatively shallow, I still feel that the price belonged there in light of the size of the previous upswing
  • Price extreme reverse + midline reject addon, both with double partials and followed by a price extreme reverse that was a losing trade – another good example of the potential from trading addons that become bigger moves -vs- single losing trades – I have brought this up a lot when it happens, because it is a strength of our method, but I know that it takes time to get used to this way of trading -vs- single trades and flat
  • Part of the discussion in this video included frustration (a) the biggest winning swing couldn’t be traded because it was a price swing resumption after a losing price extreme reverse, but with completely maxed out mex (b) a price extreme reverse + price envelope reverse that both partialed that were filtered (c) a price envelope reverse + midline reject that both partialed that were filtered — BUT regardless of this, the message was that you don’t study method on the basis of one chart and over the larger number of trade setups, our filters for price and consolidation avoid more losing trades than miss winning trades

Renko Day Trading Video294:

  • Renko emini Russell day trading, beginning with identifying support and resistance for a range where trading would begin – these 2 prices are a double top high and low, and if price breaks lower we find the next Renko support price going multiple days to the left where a resistance-support shift line breaks lower but later breaks back above the price and holds
  • AND although this is a relatively tight range, note how a price envelope reverse sell and buy maximize the trading room by beginning as a reject of resistance or support and the potential for multiple partial profits -vs- starting in the middle of the range and having room for 1 partial
  • The opening emini Russell day trade begins as a midline reject, instead of trading the opening Renko brick that partials, but is followed by 2 losing trades and another single partial winning trade – however, this is followed by an initial trade and an addon, where the initial gets a +4 +8 +12 exit and the addon gets 2 partial — showing the strength of addon trading and trade reversing in the Renko method
  • Discussion of 2 prices that become relevant through trading (1) the high before a lower low – you will see how this price becomes a double top that holds a price envelope reverse sell (2) the day session low above left-right support and how this becomes a double bottom – so when a price extreme reverse above this price is traded, the subsequent break of the double bottom is used as a 3 brick stop -vs- waiting for the 4th brick or trying to trail down to support and accumulating the loss size

Renko Day Trading Video293:

  • Renko oil chart and discussion of the viability of beginning trading again after the session break and through the night and the understanding of (a) the same ‘trading mindset’ through the end of the previous day is not necessarily the same after the session break (b) think of this period beginning similar to beginning index futures day trading after the day session begins
  • Although something may have happened that changes the trading environment [additional news or overseas reaction to oil prices], this does not have any effect on your Renko trading prices (a) note how we begin trading inside of a tight range (b) previous day high which broke and shifted to support but broke again – so it shifts from resistance to support and back to resistance (c) the previous day low as the next support (d) a price from across the chart multiple days ago that was resistance and broke out and shifted to support into a breakout to higher highs as next support if there is a downside range breakout
  • Discussion of the viability of Renko oil trading during this period and the amount of time that bricks take to complete and the patience it might take to trade, with further discussion of committing to staying in front of the screen regardless (a) trade1 took 24 minutes from entry to partial (b) trade2-addon took 20 minutes from entry to partial
  • BUT there was no chop and the trading swing gave multiple partials for the initial and an exit on strength +4 +8 +12, while the addon gave multiple partials too – but the amount of time involved was 70 minutes to this point = 2:32 central time to 3:42 central time — certainly worth the time involved to make these profits but again, needed to be committed to the patience involved
  • AND if there wasn’t this continuation and went sideways consolidated-compressed, you quit trading – like you would during any time period regardless of how much increased activity there might have been

Renko Oil Chart Overnight Day Trading

Renko Day Trading Video292:

  • Renko Emini Russell no open day trade as a price envelope reverse and a horizontal trade – the first trade was then a midline reject buy with mex flow and a hook as some confirmation of the initial direction
  • Further discussion of the first trade and the Renko trading pattern breakout – besides the midline reject with mex flow, we also got a wedge pattern breakout — note how this break increased the slope and room for trade 2 and price envelope reverse sell
  • Price extreme reverse buy + price envelope reverse addon – management was partial1 and then exit the addon after going 3 bricks and getting a full brick close underline the midline-trail the initial — however the buy swing continued – which Renko trade setup gave an addon re-entry (a) price envelope reverse swing resumption [after a green brick sell where nothing was done] (b) midline reject with mex flow and a hook?
  • Price extreme reverse buy 2 partials + midline reject addon 2 partials – continued management = price extreme reverse that is filtered but used to close the addon, then price extreme reverse sell exit of initial — discussion of the strengths of the Renko trading method is having bigger size and addons for the bigger trades AND the progression of getting to this point -vs- thinking it is ok to go from paper trading to 3 contract initial and 3 contract addon trades

Renko Day Trading Video291:

  • In the last Renko day trading video, I discussed the ‘chart condition’ of the Renko oil chart and why I didn’t trade oil early in the morning BUT I did trade oil later based on price action
  • Here is the price action that ‘attracted’ me to the Renko oil chart (a) consolidation breakout widens trading room (b) across the chart support-resistance shift line is tested as resistance (c) resistance rejects on multiple Renko bricks all with falling fast momentum (d) mex extreme cross and price envelope sell, now with 6 bricks of slope [-vs- breakout room] to support
  • Consider (1) price extreme reverse buy above price-price swing resumption sell below price (2) price extreme reverse sell above price-price swing resumption buy above price – which of these 4 potential trades can be traded — chart read for which trades are filtered and/or which trades have mex flow and a fast momentum hook
  • Consider (1) across the chart support price (2) current day session low – when there is a midline reject with mex flow-fast momentum hook, which of these 2 prices should be used as support for a potential price filter?
  • Discussion of oil future trading times and why a price extreme reverse sell [that was not filtered] was not traded at 1:28 pm central time was not traded

Renko Day Trading Video290:

  • Renko Emini Russell day trading ahead of the open and the first opening trade, which was a support price failure break trade setup – I typically don’t trade right at the open, but I went ahead with being able to trade right under support and through a previous diagonal with very good room to next support
  • Price extreme reverse buy gets a partial and then a break even exit followed by a filtered price extreme reverse sell AND a move sideways into consolidation and compression BUT a price envelope reverse sell is traded – discussion of move into a compression-triangle breakout -vs- trading inside of consolidation
  • Price made a daily lower low followed by a reject of price support as resistance only 4 bricks higher, which Renko trading price remains on the chart – the ‘original’ across the chart price, or the new lower low?
  • Discussion of a Renko price areas where 2 prices are used in a tight distance, like the 4 brick case described above – the area filtered a price extreme reverse but then entered a price envelope reverse above the area lower price that partials and is held on a price extreme reverse that is filtered by the upper area price

Renko Chart Emini Russell Day Trading Strategies

Renko Day Trading Video289:

  • Continuing from the previous Renko oil day trading video, long and deciding whether the current support price is relevant – watching for price to remain above this line and the reaction to price tests of the line -vs- straddling back and forth through the line
  • Continuing to use this Renko trading price as support, there were 3 trades that were filtered that would have otherwise been losing trades – with the price actually holding-rejecting as support and a traded that went to new highs
  • Consider the following price swings (a) price moves to a double top and there is a 1 brick breakout-reject (b) support is retested-holds and there is a move through the double top to higher highs (c) after the higher high and a second price momentum divergence higher high, there is a price envelope reverse — (a) leave the support price where it is (b) put a trading price at the double top, which is support when below it-shifts to resistance when above it (c) put an outside [extreme] resistance price at the new high-price momentum divergence high
  • Discussion of how the new resistance price filters a Renko method price extreme reverse sell + price addon reverse addon AND how these were not filtered for the Renko system because of the previous diagonal – and then even with no trade to a midline reject sell, the size of that trade is still big enough to cover the loss from 2 previous trades

Renko Oil Futures Chart Day Trading

Renko Day Trading Video288:

  • Identifying Renko trading prices to begin Renko oil day trading – the outside prices of a double top and overnight high double reject + the previous day low were ‘easy’ prices, as long as price remains inside of this range BUT deciding whether an inside price remains relevant  through price action has occurred is more ‘difficult’
  • A ‘key’ to price action relevance for a Renko inside price – is there constant straddling back and forth through the price -vs- does the price reject as support or resistance, especially as a double reject
  • Discussion of early Renko oil day trading and time it takes for some Renko bricks to complete – often starting at 4:00am central time can give me 3-4 minute bricks AND definitely takes some patience to trade BUT I also find that I don’t typically get badly whipsawed because of the lower activity
  • Is the following a price breakout Renko sell setup – 4 brick midline reject into a triple bottom breakout of price support, without a fast momentum hook and without mex flow

Renko Oil Futures Chart Day Trading

Renko Day Trading Video287:

  • A Renko ‘base’ trade setup is essentially an indicator trade that has become a part of our Renko day trading method because we have seen that it wins more than it loses and the typical win is greater than the typical loss – but it is the breakout setups that so often have more continuation and become the bigger winners
  • What is it about a breakout setup, and do note that sometimes these might not even ‘qualify’ as a base Renko trade setup, that does give these more continuation – consider that before the breakout that price might be ‘contained’ by support or resistance and/or consolidation and that this situation ‘fails’ to hold after the breakout setup
  • Price failure breakout setup of support that then moves all the way to the next Renko support price and gives a +4 +8 +12 initial Renko trade exit, with a +4 +8 double addon partial
  • Price transitions into consolidation and there are multiple price envelope reverse trades that aren’t done BUT then what appears to be another price envelope reverse is traded – a further look shows a downswing consolidates-compresses AND that the trade that was done was a triangle breakout setup into a triple bottom breakout of support and resumes the sell-off

Renko Oil Futures Chart Day Trading

Renko Day Trading Video286:

  • Renko oil chart price envelope reverse sell-midline reject addon partial and reverse -vs- price envelope reverse buy-midline reject addon – discussion of trading ahead of EIA news release and the amount of time there is for a profit, along with potential risks in staying open for the news
  • EIA news release was followed by a 10 brick move in less than 1 second AND then over half of our normal chart width occurred in a minute – WHAT IF you remained open and that 10 bricks went against your trade and when the first trade was done
  • After being flat for a while another trade was done that looks like a price envelope reverse BUT was really a lot more = resistance test-price momentum divergence high-bear wedge break sell-7 bricks of room to support
  • We have been talking a lot recently about price breakout setups -vs- price breakouts only – the sell was a pattern breakout setup, which has an additional continuation component -vs- the ‘simple’ price envelope reverse — further discussion of seeing patterns on the Renko charts compared to bar charts that may be easier, but the response-outcome on the Renko chart is just as good

Renko Oil Futures Chart Day Trading

Renko Day Trading Video285:

  • Renko oil chart day trading starting with selection of trading prices – the prices where trading started were all previous day lows and then lower lows BUT note how these trading prices were not in the same downswing but were combinations of lows-reverses-breakouts to lower lows
  • Discussing initial trading which is in the area of what would be trading support AND whether there is a setup that is a price failure break, price breakout [technically discretionary but has continuation] -vs- a price breakout only that would not be traded
  • Price envelope reverse-price swing resumption after a price envelope reverse on a counter brick – discussion of holding the initial trade on the counter brick reverse [only 2 bricks down], with an addon on the resumption that retained mex flow and has a fast momentum hook — with further discussion of why this a momentum trade BUT not a 4 brick midline reject trade setup
  • Price envelope reverse buy-price envelope reverse sell-price envelope reverse buy – discussion of how the 2nd buy manages the sell with only a 2 brick loss [-vs- ‘base’ 4 brick stop] AND the trade was actually a bull flag pattern breakout that gave good continuation past 5 bricks for a Renko price extreme reverse sell

Renko Oil Futures Chart Day Trading

Renko Day Trading Video284:

  • Renko oil chart day trading and looking at potential trade setups at resistance and whether they would be price failure breakout setups OR filtered trades because they would be breakouts only
  • What is a breakout setup [vs. breakout only] and what are the key components ‘allowing’ a trade that would otherwise be filtered AND are any of the following breakout setups (a) 3 brick midline reject-fast momentum hook-mex at 1.0 max extreme (b) 4 brick midline reject-price break2-mex cross against direction (c) 4 brick midline reject-fast momentum hook-mex flow
  • Discussion of trade management strength = initial trade + addon trade each with multiple partials – initial trade only with 1 partial and 4-5 bricks of giveback – initial trade + addon trade with 1 partial each, followed by a price extreme reverse with 2 bricks giveback
  • Price envelope reverse that is price filtered followed by price envelope reverse that has no price filtered BUT would be taken after transition into consolidation – discussion of consolidation into consolidation, including how a previous breakout price has shifted to support as the result of price action

Renko Oil Futures Chart Day Trading

Renko Day Trading Video283:

  • Renko Emini Russell open day trading and discussion of choosing not to trade at the open on an index future – that doesn’t mean that can’t trade ahead of the open, but that trade would have been at 8:27ct
  • The Emini Russell first trade done was another example of a breakout setup at price -vs- no trade because of a price filter – in this case, the trade was done as a midline reject with mex flow AND price triple top breakout
  • Trade management and strength inherent in a 1 partial trade followed by a 3 brick losing trade -vs- a 3 brick losing trade followed by an initial trade + addon trade, where a 3 contract trader would get a +4 +8 +12 exit on initial trade and a +4 +8 +11 trail on the last contract — emphasizing the importance of trailing and continuation, along with addon trading
  • Trade management and 1 contract initial 5 bricks giveback price envelope reverse + 1 contract addon and 4 brick giveback exit -vs- a price extreme reverse that may become a loser some times, but also reduces giveback to a minimum — and again the importance of trade management for continuation and trade size on the ‘best’ trades

Renko Oil Futures Chart Day Trading

Renko Day Trading Video282:

  • Renko chart oil day trading first focusing on price and some breakout pattern setups – trading prices (a) previous day double top high as resistance (b) high breakout to higher highs after a price envelope reverse and resumption as support
  • As another Renko method trading price, we see that after the session break there is a retrace down and then a breakout to higher highs that becomes an inside price and actually first support – we see the validity of a line like this from the double bottom reject and reverse from the price
  • Price envelope reverse sell at price = no trade and a midline reject with mex flow at price = no trade BUT a second midline reject with mex flow and a fast momentum hook is traded – this was referred to as a discretionary trade because it was also on price, with a further discussion of how this was a M pattern price breakout into a previous diagonal for continuation — also be sure to note the discussion of a second similar pattern that couldn’t be traded and a W pattern price breakout buy that was done
  • Price extreme reverse buy at price = no trade BUT a further look shows the intersection of horizontal price and a diagonal trendline, which gives the pattern breakout pattern referred to as a horizontal diagonal, which allows this as a discretionary trade because of the basis for continuation

Renko chart oil day trading

Renko Day Trading Video281:

  • Renko Emini NQ day trading|4 brick Renko chart open trading and discussion of price in the area of trading – overnight support would be the low price since the roll from September to December — further discussion of the significance of going short on a reject of this price as resistance -vs- the overnight low as support
  • Price extreme reverse buy-price swing resumption sell combination – close look at momentum at the time the resumption trade AND we find that (a) we still have mex flow at the extreme low -vs- a move all the way down to 0 (b) fast momentum is hooking with the midline reject
  • The trade above was compared to 2 price swing resumptions after a price extreme reverse, seeing the differences and why we couldn’t take the resumption trades
  • Discussion of a transition into consolidation as seen by the sideways movement of the midline, along with mex moving sideways along the middle of the momentum scale – followed by what became a consolidation breakout trade (a) midline rejects as resistance -vs- price moving back and forth through it (b) mex flow and fast momentum hook (c) traded into triple bottom breakout

Renko Day Trading Video280:

Renko Day Trading Video279:

Renko Day Trading Video278:

Renko Day Trading Video277:

  • Renko Emini Russell trading, looking at volume-activity-bid|ask spread before starting to trade – looking at a potential trade after a double top-lower high price envelope reverse BUT the bid|ask was 3 ticks and volume-activity was so slow that the last 4 bricks took 40 minutes — NO trade
  • Additionally the next 2 trade setups were a support reject-price extreme reverse + price envelope reverse addon BUT again the activity-bid|ask spread still was not right to trade – the first trade was then a midline reject that then had no addon — do not be influenced by the initial+addon going to multiple partials and the eventual trade had to be managed  without the exit on strength – the trades not done should not be done
  • Renko trading prices and comparison of an extreme price and a price action price (a) the extreme price at resistance was a double top high (b) the price action price at support was a resistance price that broke out and then test-shifted as support on the way to a higher high
  • Discussion of Renko chart diagonals as support and resistance and/or as breakout setups (a) midline reject with mex flow and hook was not traded because 2 bricks from downtrend line [resistance] and was rejected (b) consolidation-price breakout was traded because there was actually a triangle breakout setup

Renko Chart Emini Russell Day Trading

Renko Day Trading Video276:

  • Renko Emini Russell CME exchange volume after index futures roll day to December – we can see a huge volume increase that was a higher trading volume than the Emini Dow and we can see that open interest in September has increased, meaning that the December volume isn’t simply a roll from September
    • Yes, there is still an ICE December Emini Russell, but with far less volume
  • The Renko trading period begins with a lower high-double top price envelope reverse sell and breaks out to a price extreme reverse buy with no addon – the buy immediately loses and the price swing resumption sell can’t be traded because it is into a price momentum divergence = +4 +8 X -4 -4
  • The next 2 Renko trades include an initial trade and an addon trade that both get a +4 +8 exit OR +4 +8 double partials depending on size – seeing the benefits of addon trading compared to a single profitable trade and/or to a losing trade without a partial
  • Short with a +4 +8 exit IF trading 2 contracts, followed by a price failure break-midline reject combination – is this a addback to the open shorts — the ‘clues’ to the answer come from looking at mex flow and fast momentum for a hook – clearly we can see that we do not have a momentum component to the setup and no trade can be done

Emini Russell Renko Chart Day Trading

Renko Day Trading Video275:

  • Renko Emini Russell day trading starting with a discussion of price (a) resistance comes from lower high double top that has price action relevance after a break as support followed by a reject as resistance (b) support comes from the after session break low-double bottom that broke as resistance and then rejected as support – again showing its significance on the shift and reject
  • Renko day trade 1 = lower high double top price envelope reverse through previous diagonal + midline reject with mex flow and hook addon – management discussion about taking a +4 +7 exit [or partial 2], based on hitting support with mex at the 0 extreme low
  • Discussion of trade ‘management arithmetic’ comparing a price envelope reverse with midline reject addon that had no partials with a price envelope reverse with midline reject and midline reject addon that had a +4 +8 +12 Renko brick exit on a trade if trading 3+ contracts — further note the management that gave a -2 -3 brick loss -vs- 4 brick stop on each trade
  • I started discussing a price envelope reverse buy that was also the reverse from short to long on open trades – however, the trade reverse was not actually done because the entry was into a 2 point down trend line as resistance — the concept of a diagonal support or resistance line -vs- only using horizontal support and resistance lines

Renko Emini Russell Chart Day Trading Strategies

Renko Day Trading Video274:

  • Renko Emini NQ day trading|4 brick Renko chart – first trade after 9:00ct news where price moves into consolidation after a ‘large’ previous upside move
  • Consolidation seen by momentum, where mex is horizontal and flat and/or lags crossing with a price envelope reverse – the first trade taken was a midline reject-price envelope reverse combination, into a trendline breakout
  • The period covered was not a good trading period, with a number of small losses BUT there was 1 relatively ‘large’ swing that had an initial Renko trade and addon that both got multiple partials – discussion of the importance of addon trading and adding trading size [over time] to our Renko trading method
  • Discussion of a price extreme reverse followed by a price swing resumption, but the resumption wasn’t traded because there was no mex flow – and the price extreme reverse was exited, because mex was at the bottom extreme -vs- the maximum extreme

Renko Day Trading Video273:

  • Renko Emini NQ day trading|4 brick Renko chart first trade (a) price envelope reverse with 3 bricks of room not traded (b) midline reject not traded (c) price envelope reverse above price traded
  • Discussion of these 3 potential trades and why they were/weren’t done (a) there may have been 3 bricks of room but when going to the left we see the trade would be a consolidation breakout (b) the midline reject did not have mex flow or a fast momentum hook and it was the open brick (c) the trade that was done was above price after a price momentum divergence-mex extreme cross and with a previous diagonal to trade through
  • Management discussion of an initial trade-addon trade that each gets multiple partials [or a +4 +8 exit if trading 2 contracts] and how a price envelope reverse with 2 bricks of room to price was used to exit the addon but hold the initial trailer, based on the size of the profits to support this hold – this was compared to another initial traded-addon trade, where the addon was exited for a 2 brick loss [while holding the initial], because neither trade even had a partial yet
  • Discussion of a ‘large’ sell swing and management scenarios, while trailing for a price extreme reverse – showing locations that would be a price extreme reverse buy and a price swing resumption sell -vs- a price extreme reverse buy and a trade exit, instead of a price swing resumption buy

Renko Day Trading Video272:

  • Renko oil trading and discussion of first trade -vs- first trade setup and why I called that a discretionary trade – the first trade setup was a price envelope reverse filtered by the low, where the first trade was a midline reject with mex flow and a hook that was also price filtered
  • BUT the discretionary trade was ‘read’ to have continuation filtered – price was a previous double top-price contraction high and the trade done was a midline reject that was a higher low reject of the previous low, with mex flow and a hook and into a triple top breakout for the continuation potential — further discussion on the importance of a discretionary trade have a continuation criteria that can continuously be followed -vs- discretionary essentially being random or a ‘coin flip’
  • Discussion of Renko trading prices (a) support was ‘easy’ as a previous double top that that shifted to support (b) wasn’t ‘so easy’ as it wasn’t an extreme price high or low, or a previous double top or bottom – the price was a price action price in the area that was tested as support or resistance and continued to test-reject across the chart to retain its relevance
  • Discussion of trendlines as diagonal support or resistance and how 1 trendline breakout was traded but 1 trendline was a resistance price filter for a price envelope reverse and midline reject, which did reject and would have been losing trades – but was later traded as a price envelope reverse breakout that did give continuation

Renko Oil Chart Day Trading Strategies

Renko Day Trading Video271:

  • Renko oil trading and discussion of first trade -vs- first trade setup and was the trade that was done ‘chasing’ – the first trade setup was a price envelope reverse but I wasn’t trading yet and entered on a midline reject with mex flow 1 brick lower than the reverse price — I do not consider this to be chasing -vs- not doing a price envelope reverse and then entering the swing 4 bricks higher
  • Discussion of potential Renko 4 brick midline reject trade setups and momentum at the time of the trade and which one[s] of the setups could be traded
  • Further discussion of momentum and whether mex was too extreme and/or flat OR whether a fast momentum hook existed – thus not ‘allowing’ any further trading in the swing
  • Can you ‘chart read’ for consolidation when price appears to be moving with slope inside of contracting horizontally – discussion of a ‘drift’ down and what momentum looked like at the time — fast momentum was moving from lower extreme to upper extreme, while mex stayed at the lower extreme and became essentially one line – this should be viewed similarly to consolidation and price envelope reverses inside the swing ‘shouldn’t’ be traded

Renko Emini Russell Chart Day Trading Strategies

Renko Day Trading Video270:

  • Renko Emini Russell chart day trading and discussion of continuing to trade the Renko 3 brick chart -vs- changing to the Renko 4 brick chart like has been done with the Emini Nasdaq
  • Discussion of the Renko chart trading prices relevant to the area trading, which were previous highs during the ‘overnight’ session BUT why these prices when there were a number of other new highs followed by a counter Renko brick and then a break to a higher high?
  • Price contraction inside of support and resistance giving a potential triangle breakout setup – can this trade be taken on the breakout and after the break is a price reject-midline reject an addon or initial entry if the triangle breakout ‘can’t’ be traded?
  • Price extreme reverse buy followed by a price envelope reverse addon BUT after the trades are taken there is a price envelope reverse sell – what should be done with the open buys, including should this be a sell reverse trade?

Renko Emini Russell Chart Day Trading

Renko Day Trading Video269:

  • Renko 4 brick Emini NQ open trading that quickly moves into a tight range, when the opening trade into a previous diagonal only goes 4 bricks, which holds as a double top with the low holding as a double bottom
  • With price contraction and a tight range, how long should trading be continued and/or what other adjustments to ‘basic’ Renko chart trade setups should be made?
  • Discussion of eliminating some price envelope reverse only setups inside of range and looking for Renko setups that have additional setup components – like setups that start with a reject of the range high-low to give more room to the other side of the range, or waiting for a midline reject to get more indication of continuation
  • Discussion of stopping trading without enough of a range breakout to give more room to trade -vs- continuing to have price filtered trades back into a previous range extreme OR because even with ‘adjusted’ trade setups the trades are losers – don’t keep trading in this kind of market condition just because it’s when you ‘normally’ trade

Renko Emini Nasdaq Chart Day Trading Strategies

Renko Day Trading Video268:

  • Renko 4 brick Emini NQ open trading, discussing how long should we wait to take the first trade – can’t really give an amount of time that is necessary to wait as much as waiting for a multi-component setup -vs- a ‘simple’ price envelope reverse only
  • This is an issue because of how much volume occurs at the open and how easy it is to get whipsawed in multiple price envelope reverses – the first trade taken was a midline reject-triple break combination after not trading 2 price envelope reverses
  • Note that this open trade setup did not occur on the Renko 3 brick chart and what would have been a winning sell would have been missed and actually, this sell on the 3 brick would have been no sell-price extreme reverse loser-no price extreme reverse buy -vs- a 4 Renko brick winning sell followed by a winning price extreme reverse – the 4 Renko brick chart would tend to ‘handle’ the volume better than the 3 Renko brick
  • Discussion of price extreme reverse sell that before a price envelope reverse retraced up to the swing high – should the trade be exited if it continues up 1 more brick — definitely not (a) 1 more brick would hit resistance (b) the trade would be 3 bricks against you -vs- 4 brick stop (c) mex always continued down on what was a 4 brick retrace up – hold the trade for a price momentum divergence at resistance

Renko Emini Nasdaq Chart Day Trading Strategies

Renko Day Trading Video267:

  • Renko 4 brick chart Emini NQ trading end of the day, looking for the potential of capturing an extended move into options expiration – but after a full day of trading with swings in both directions and a number of consolidation period breakouts, what Renko trading prices should be used?
  • Discussion of 2 specific trading prices found earlier in the day and a look at any continued price action that would cause these prices to still be used at the end of day range area – including a group of trades done earlier in the day, which was done using these 2 prices as support and resistance
  • By the end of the day, the price that was going to be used as resistance had become a center line inside of a higher resistance price, with the support point below continuing to remain relevant – no buy was done as a break2 of the center line because it would be done into a trend line as resistance, making the first trade a break2 sell with mex flow and a hook AND into a triple break
  • The sell had 1 partial and flat with no buy done, which was followed by a resistance double reject-price envelope reverse-trend line breakout – discussion of this Renko 4 brick NQ sell compared to the Renko 3 brick chart, which included to price extreme reverse losing buys that did not occur on the 4 brick chart

Renko Emini Nasdaq Chart Day Trading Strategies

Renko Day Trading Video266:

  • Renko oil trading and first trade after EIA news release – the trade is a price failure break setup = price break2 triple break into previous diagonal — failure break meaning that price support fails to remain support
  • The Renko price failure break trade setup is compared to a price failure breakout setup = midline reject with mex flow and fast momentum hook-price triple break breakout — the trade is a breakout of resistance with the setup as described, but it can’t be said that the price is already setup to fail when the trade is done
  • Compare 2 price extreme reverse-price swing resumption combinations (1) price extreme reverse buy when mex is a 0 area and flat – you would not sell the price swing resumption and hold the buy (2) price extreme reverse sell when mex has just crossed above .8 extreme line and has flow – you would buy the price swing resumption, however in this case you would do nothing because the resumption is price filtered
  • Compare 2 consolidation breakout setups (1)  higher low with mex flow and triple break – this is a breakout setup (2) price envelope reverse inside consolidation with no mex flow or higher low-triple break – this would be a breakout only and not a trade setup

Renko Oil Chart Day Trading Strategies

Renko Day Trading Video265:

  • Renko Emini Nasdaq 4 brick trading -vs- 3 brick charts, especially to discuss 4 Renko 3 brick price extreme reverses that were all losing trades inside the Renko 4 brick swing and did not have a price swing resumption
  • Renko 3 brick price extreme reverses (1) buy that was stopped out but held for a 3 brick price momentum divergence on the 4 brick (2) price extreme reverse that was only a 3 brick swing on the 4 brick Renko emini NQ chart (3) price extreme reverse mid swing on the 4 brick chart (4) price extreme reverse mid swing on the 4 brick chart
  • This video didn’t discuss a period of price contraction to the left to focus on these price extremes, but we would anticipate that a Renko 4 brick chart with price contraction would be a similar period on the 3 brick chart and even worse, because there could be more price envelope reverses ahead of identifying the contraction or a move into consolidation
  • On previous videos, we saw 4 brick midline rejects [on the 4 brick Renko Emini NQ] that didn’t have the mex flow and/or fast momentum hook to give a tradeable setup – during this trading period there were 4 of these trade setups that were tradeable and also profitable add-ons

Renko Emini Nasdaq Chart Day Trading Strategies

 

Renko Day Trading Video264:

  • Discussion of Renko Emini Nasdaq 4 brick trading -vs- 3 brick charts, again looking at reducing the number of chart reverses and 5+ brick price extreme reverses that immediately resume direction
  • Can you change any-all contracts to 4 bricks – yes BUT don’t jump the gun — there is a reason for looking at the NQ that might not occur for Renko oil or gold with higher point volume – you can study any contract and brick count, but I am not ready to change my trading for something that doesn’t appear to have a brick size related problem that is affecting profits
  • Key trade-offs are the smaller moves where the Renko 3 brick chart gives a 4 brick partial but the Renko 4 brick chart only gives 3 bricks -vs- the multiple price envelope reverses and price contraction that doesn’t occur on the Renko 4 brick chart
  • Additionally, the trading period discussed showed 2 times where there were Renko 3 brick price extreme reverse losing trades followed by a price swing resumption losing trade – while this did not occur on the Renko 4 brick chart

Renko Emini Nasdaq Chart Day Trading Strategies

 

Renko Day Trading Video263:

  • Discussion of Renko Emini Nasdaq 4 brick -vs- 3 brick charts with the objective of the bigger brick count eliminating the number of ‘meaningless’ price envelope reverses – additionally we would expect to see fewer 5+ brick price extreme reverses that immediately resume, along with fewer price momentum divergences
  • The potential benefits of the Renko NQ 4 brick chart over the 3 brick chart can also have trade-offs, for instance there will be times where a 3 brick price extreme reverse winning trade won’t be a 4 brick entry and there will be times where the 3 brick trade goes 4 bricks to a partial profit but the 4 brick trade only goes 3 bricks
  • Renko NQ 4 brick trading begins with a resistance-midline reject with mex flow and a hook initial entry and addon entry BUT if trading the 3 brick chart neither of these would have had momentum components for entry – and there would have been a price envelope reverse buy loser, where the 4 brick was held and became profitable
  • Renko NQ 4 brick price envelope reverse buy + midline reject addon – both trades are profitable and then there is a price-midline reject addback to replace partials that is also profitable — the 3 brick chart wouldn’t have the addon or addback trade entry available

Renko Emini Nasdaq Chart Day Trading Strategies

Renko Day Trading Video262:

  • Discussion of Renko Emini Dow Jones trading with a general discussion of Renko chart index trading -vs- oil and gold trading – talking about normal volume and activity differences and some summer slow down
  • Comparing the Emini YM and Emini NQ volume differences, looking at a 2 hour period of the YM spanning the same chart width as a 6 minute period on the NQ AND an underlying issue that was mentioned the other day – the Renko NQ chart difficulties coming from so much volume-activity that we get so many price envelope reverses
  • Would the NQ actually be better to be traded as a 4 [or even 5 brick] Renko chart where some of the reverses would be eliminated – this is something that will be looked at and discussed further
  • Price envelope-trendline breakout sell with momentum BUT moves into another price envelope reverse and a sideways move ‘straddling’ the previous low where no trading is done – (a) center line and trend line breakout and why not trading is done yet (b) followed by discussion of when the sideways period has a momentum build to trade

Renko Emini Dow Jones Chart Day Trading Strategies

Renko Day Trading Video261:

  • Discussion of Renko Emini NQ chart and the price action that identified the trading prices (a) high price into sell into a diagonal (b) swing low becomes low before breakout to higher high – the sell swing also gives a 3 point trend line (c) new high is resistance – previous high shifts to support
  • Discussion of price envelope reverse dot with a braiding mex – (a) do you read this as a price envelope reverse trade, also noting that it would hit the trend line as the 3rd point? (b) what do you do with open trades if don’t take the reverse trade and have not been stopped out?
  • Comparing 3 potential breakout setups (a) 3 point trend line breakout after mex cross (b) price-high breakout before mex cross (c) price break with mex cross into a triple break but entering on the possible higher low brick
  • IF there is a low before a higher high, but it is also a brick miss test of the previous high, which of the 2 prices is support – we want the most significant trading price to the chart, also understanding that the price that is used will affect price filtering to the right

Renko Emini Nasdaq Chart Day Trading Strategies

Renko Day Trading Video260:

  • Renko Oil chart starting with price identification for 8/3 trading, with the ‘key’ trading price coming from 8/1 – consider the significance of this price (a) price makes new low then retrace-test and multiple holds (b) price rejects and breaks out to lower lows (c) the resistance price retests again 90 minutes later and rejects, again followed by new lower lows
  • 8/3 is the next time we get to this price and using it as a price filter avoids 6 losing trades during the trading period discussed – seeing the significance of a trading price through price action over multiple days
  • Discussion of a price breakout only -vs- price breakout setup – I wouldn’t trade a price envelope reverse at price, but when this was followed by a triangle around the price and a midline reject with mex flow, the trade was done
  • Trade management for a price extreme reverse buy followed by a midline reject with a hook at price – a swing resumption trade would not be done because it was price filtered and there was no mex flow at the 0 extreme BUT the buy also was not exited on the price break — there was only 3 bricks against the trade and the exit would have been done on a price test-price momentum divergence low

Renko Oil Chart Day Trading Strategies

Renko Day Trading Video259:

  • Discussion of Renko Emini NQ trading and price identification issues from having high volume and many price envelope reverses AND determining which prices are significant
  • Identifying Renko trading prices, especially based on additional significance from price action and sup-res|res-sup shifts -vs- simply being a daily high or low
  • We will see on our trading chart as we continue to the right the relevance of the prices based on continued Renko price action, which becomes additional important because multiple losing trades are price filtered
  • Renko price extreme reverse buy-price envelope reverse addon, but the addon is stopped out – discussion of holding the initial trade as it only goes 3 bricks down and on support price-price momentum divergence test — the PMD holds and leads to a price envelope reverse and another addon re-entry, giving a +4 brick +8 brick profit for the initial trade

Renko Emini Nasdaq Chart Day Trading Strategies

Renko Day Trading Video258:

  • Renko Emini Nasdaq trading starting with a discussion of recent volatility increases, for instance from yesterday’s strong move up on the dow jones while the qqq continued to sell off — qqq volatility can be seen by looking at an intraday chart of the VXN
  • Discussion of trading prices – the 2 prices used were significant as the low and then a new lower low BUT they were more significant than this because of the price actions that showed a support price breakout and shift to resistance after a number of retests, followed by a breakout lower that also shifted to resistance on retest before going lower again
  • 2 potential Renko trading price breakout patterns (1) bull flag (2) midline reject – although these are both ‘technically’ price filtered, I did the bull flag buy as a breakout setup, while not being able to call a midline reject-price breakout a breakout pattern or setup — NOTE that this trade would be a system setup and was profitable from the break through the previous diagonal
  • Price action price added to the chart (a) low of bull flag pattern before breakout to resistance (b) retract to the same low price and hold as an area double bottom (c) retrace to resistance then breakout [triple bottom breakout] down resuming sell swing — this price shifts to resistance AND note its relevance with multiple retest holds after breaking

Renko Emini Nasdaq Chart Day Trading Strategies

Renko Day Trading Video257:

  • Renko Oil chart starting with price identification for 7/26 trading – (a) 7/25 daily high (b) 7/25 previous high and breakout to higher high, with discussion of the price action we can see that shifts the price from resistance to support
  • 7/26 is the EIA report day and discussion of the first trade done after the 9:30 CT news release, with a focus on a price action price after a double top after the news (a) price envelope reverse-price and midline reject with mex flow sell (b) price envelope reverse-price and midline reject with mex flow AND diagonal trendline breakout buy – enter the trade on the horizontal-diagonal breakout
  • Discussion of the previous day high and whether it remained price relevant after a clean breakout as resistance and again as support, with further discussion of how the test and retest price filtered addons [NOTE that they were both system addons]
    • A daily price does not remain relevant if it doesn’t show relevance through price action – but even though the Renko price filter strategy doesn’t work in a specific case, do not view a strategy as not viable without look at multiple cases
    • Further note that if a price filter is not going to hold that it tends to be when it is through a previous diagonal, which is why we allow the trade as a system trade
  • The previous daily high is removed from the chart after showing no relevance and is replaced by (a) the new high as resistance (b) the price action price discussed as support – with further discussion for why this price with used, along with a further look at what happened after it broke as support and was then tested as resistance

Renko Oil Chart Day Trading Strategies

Renko Day Trading Video256:

  • Renko Oil chart starting with 7/21 prices and price action – (a) double top high breakout to higher high but can’t shift to support – remains resistance (b) lower low-price envelope reverse-down swing resumption that also becomes a double top hold and moves down to lower lows – becomes first resistance to the upper line
  • The primary significance of these prices come from the 7/25 Renko Oil chart and the trading we are discussing – price is moving back up to these charts and these prices will once again become significant — we will see how both prices break on an upside move and filter a price extreme reverse sell
  • Discussion of a trade setup that includes the high breakout with room to next resistance – can this trade be done — the answer to this question becomes is there a breakout setup -vs- is there an indication from momentum that this trade would be a high breakout into a price momentum divergence
  • Discussion of a horizontal breakout -vs- diagonal trendline breakout and whether a trade at [into] price support can be traded – and if not is there a ‘first continuation’ trade setup that still has room through the diagonal and to a profit target

Renko Oil Chart Day Trading Strategies

Renko Day Trading Video255:

  • Renko Emini Russell day trading chart, with an initial focus on (a) price identification (b) should the prices continued to be moved across the chart (c) are there any prices that should be added from trading
  • Begining Renko trading prices (a) previous day’s low (b) swing double bottom that also syncs with the initial low after the session break (c) should the high after the session break be added to the chart – this is a price action question that is fully discussed
  • Consider the following and whether this is a Renko breakout setup OR a trade setup that is price filtered – (a) price double bottom low – double bottom low after the session break (c) midline reject with mex flow and fast momentum hook (d) no indication of trading into a price momentum divergence (e) this is not the low and there is ‘lots’ of room to next support — sell the double-triple bottom breakout as described?
  • Low of session breaks previous lows as a test of support [breaks by 2 bricks] and immediately breaks back above it and there is a price envelope reverse, however, a price extreme reverse buy is filtered – later this same low breaks and there is a double bottom at the new low, so now move the support price to the new low and buy the price extreme reverse instead of being filtered by the original support price

Renko Emini Russell Chart Day Trading Strategies

Renko Day Trading Video254:

  • Emini Russell clarification – this contract will not retain dual listing at both ICE and the CME, ICE is not allowed to register any new expirations and the RTY will become the only contract, which is why I am willing to look at it now as this transition is made
  • Renko Emini Russell chart continuing from yesterday’s video – short the price extreme reverse-price envelope reverse buy AND then another price envelope reverse sell — do we go back short or go flat inside of a price contraction range between the new high and the previous high-low support line?
  • Discussion of removing the Renko chart high price when a new high is made because of how it has become a center line between that high and support as a range -vs- being support when above the price and resistance when below it
  • When answering the question above about reversing short inside a range -vs- going flat [there are 3 bricks of room to support] – there is a discussion about a trend line across the chart AND the potential of trading back through the trend line and through support -vs- holding at support and inside the range

Renko Emini Russell Chart Day Trading Strategies

Renko Day Trading Video253:

  • Looking at a Renko Emini Russell chart BUT the initial focus is price and adding prices to the chart as new lows are made
  • We are especially focusing on the difference and significance on a new low that then rejects as resistance and is also the high before a lower low -vs- new lows in the same sell swing
  • Do also note what happens to later trading inside of 2 of the prices as a tight range where there is also price contraction – no trading would be done as this occurs AND in the case of the Emini Russell this volume slowing also gave a period of a wider bid-ask spread
  • Discussion of multiple price envelope reverses at or into price so there are filtered and whether there is one that is actually tradeable as a breakout setup – consider the difference as a price momentum divergence low, with a mex cross and mex flowing up and the price breakout being a break of the PMD counter point [the high price between the 2 price lows] AND with a previous diagonal of 5+ bricks

Renko Emini Russell Chart Day Trading

Renko Day Trading Video252:

  • Renko Emini Russell chart day trading – again discussing bid-ask spread and not trading until you see that the spread is 1-2 ticks consistently and not 3 tricks
  • Discussion of the implications of a 3 tick bid-ask spread and getting a 4 brick partial – IF the brick closing high is also the bid and the offer is 3 ticks higher, then you will not fill the partial
    • I am not saying that this isn’t an issue for a 2 tick spread [or even a 1 tick spread for that matter] – but in this case, if there is a 1 tick move into the next brick, regardless of whether it completes, then the partial profit would most likely fill
  • There is a double-triple bottom breakout sell setup after a lower high done as a trade that is also a price breakout, because mex is rolling back with room to extreme and a lower target from yesterday’s range – IF this same Renko setup was at a price outside the previous day’s range and/or with ‘buried’ momentum then I would not have done the trade
  • This trading period had a number of +4 brick +8 brick exits, but there were also a number of price extreme reverses and missed price filtered winning trades – did this have anything to do with the Emini Russell volume or the bid-ask spread — my answer was that this could happen while trading any chart and had nothing to do with the volume or spread

Renko Emini Russell Chart Day Trading

Renko Day Trading Video251:

  • Renko Emini Russell chart day trading – Kinetic Emini Russell data for the RTY contract that was added [back] to the CME on July 10
  • I tried some trades on Thursday and Friday and there are some important things to note (a) volume is still very light (b) the overnight bid-ask spread is typically 3 ticks -vs- 1 tick – we don’t get to 2 ticks or 1 tick until there is some volume pickup coming into 8:30 CT (c) the trades that I am willing to try at this time are 2 contracts [minimum recommended trading volume so a partial and trail can be done]
  • Although I am using price filtering, I am also looking to trade price envelope reverses that have a previous diagonal or a breakout pattern – you know that the Renko method wouldn’t require the previous diagonal for a price envelope reverse setup
  • 2 trades done that had a breakout pattern (1) swing high into price contraction – buy swing high break2 with mex flow and a triple break combination (2) price high reject-previous breakout hold AND move into price contraction triangle – sell triangle break [bottom trend line has 2 points] after resistance reject, which is then into the previous swing low that has triple bottom breakout potential
    • Read this language describing these setups AND understand how these are breakout with continuation setups

Renko Emini Russell Chart Day Trading

Renko Day Trading Video250:

  • The video starts by tracking yesterday’s original Renko oil chart low [made at 9:42 CT] across the rest of the day and after the session break until trading began today – continually seeing price action and the clear continued relevance of this price
  • As trading continued we identified 2 other outside prices that belong on the chart BUT what about the price action price – discussion of a unique situation where there was such price clarity that this price remained on the chart
  • Unfortunately having Renko prices on a chart as close as the ones that you will see in this video will typically be a big problem for trading and it’s something that you want to be sure that you aren’t continually doing – be sure that you have a price action reason for retaining the inside price AND this video was a good example of a price like this
  • Since the chart breaks to lower lows the chart does get more trading room and I kept trading – still keeping the inside price on the chart which you will see reject as resistance and hold as support

Learning How To Day Trade Renko Oil Charts

Renko Day Trading Video249:

  • Starting this Renko trading video by looking at 2 charts = the oil chart consolidating after a price extreme reverse and the gold chart that looks like a price envelop reverse only – which chart would you trade IF you were flat at the time?
  • Discussion of having a workspace with the CL GC NQ and having a favorite chart to trade, but not forcing trades just to trade that contract – a further look at the Renko gold chart actually shows a double top-trendline break [wedge breakout] at the price envelope reverse AND a very good trade setup
  • The first Renko oil chart would be when flat, selling a triple break of the low after a lower high midline reject BUT further note how the chart becomes a range between resistance and new support at a lower double bottom
  • The video focus becomes one of evaluating the trade setups, with the chart condition AND what would take the chart into a price contraction range where trading would discontinue – especially in the situation occurred when the support and resistance prices were tested with higher lows and lower highs -vs- at least getting a move to these price targets

How To Day Trade Renko Oil Charts

Renko Day Trading Video248:

  • Oil Renko day trading and the first Renko method trade that was done = support-resistance price envelope reverse that couldn’t be traded because price filtered – then sell price extreme reverse — a price envelope reverse addon couldn’t be traded because it was also price filtered
  • Discussion of Renko chart trading prices and the price action we see there that continues to show their relevance, with more avoided losing trades than winning trades missed
  • Price envelope reverse setups that would be entered on a lower high or higher low aren’t traded, choosing to wait until the bricks ‘square up’ – discussion of how this saves a price filtered losing sell and holds an open sell where mex lags the reverse and the brick high would be a double top
  • Price extreme reverse sell followed by a price swing resumption buy that is priced filtered, where do you exit the sell – the price swing resumption is a midline reject-mex flow-fast momentum hook system trade — if exiting here there is a 2 brick loss-exiting at price is a 3 brick loss-exiting on the price break is a 4 brick loss AND it could still be a brick break reject

How To Day Trade Renko Oil Charts

Renko Day Trading Video247:

  • I have mentioned that Renko system trading can be done profitably but over the ‘larger’ number of trades that I would expect Renko method trading to be more profitable
  • BUT I wanted to discuss this Renko oil chart that was a difficult Renko method trading period, where system was actually more profitable than method – additionally I wanted to discuss this period for any chart read that showed price contraction into range or consolidation where trading was stopped
  • Discussion of the high before a lower low and how it becomes a center line for a price contraction period after a lower high that doesn’t go near resistance and a higher low that doesn’t go near support – further discussion of how the horizontal structure of price contraction becomes a diagonal structure and a triangle breakout setup that includes a diagonal triple break leading to the breakout
  • After the range breakout and a price extreme reverse [AND the center line shifting to support] there is a price envelope reverse that is price filtered for method AND without a previous diagonal for system, there are 2 midline rejects with mex flow that system can trade but where method is still price filtered – leading to a +4 brick +8 brick exit and trail for system, while method only has the initial trade to keep trailing

How To Day Trade Renko Oil Charts

Renko Day Trading Video246:

  • Oil Renko day trading and the first Renko method trade of the day – go back to the right and identify (1) relevant trading prices for the period traded (2) the chart condition and whether price is in consolidation or a price contraction range that would keep the first trade setup from being traded
  • Consider the following price action (a) new high-double hold – mex cross and falling momentum on 2nd price hit (b) retrace 4 bricks down then 2 bricks back up to lower high – price envelope dots and midline going sideways (c) mex sideways in middle of momentum range — describing Renko price contraction and did not trade first price envelope reverse breakout
  • Comparison of Renko method trades that weren’t system trades – there were 3 of these and they were all winning trades + 1 losing addon trade that system didn’t do because it was able to enter a price envelope reverse that was price filtered for method
  • Comparison of Renko method trades that were filtered to system trades that were done – there were 3 of these with 1 winning trade and 2 losing trades — the Renko system was profitable during the period, but the  Renko method was more profitable
    • Especially because of 2 price envelope reverse winning trades that were not near a momentum extreme and then 1 price extreme reverse system trade where the previous trade was held by method

Oil Renko Day Trading Training Video

Renko Day Trading Video245:

  • Oil Renko trading after EIA news report – price envelope reverse sell-4 price extreme reverse buys — why were none of the price extreme reverse buys traded until the 4th one?
  • Look back left for the Oil Renko chart to the news release where we see a strong buy reaction + 2 ‘chart widths’ that all took around 2/10 of a second AND then the price envelope reverse – how could possibly consider trading a fast market like this and/or whether the news was ‘in the market’?
  • Comparative discussion of yesterday’s Emini NQ chart – discussion of trend -vs- swing reverses-swing extremes when day trading AND the strength of market + fast market breakouts that sometimes was printing 2-3-4 Renko bricks virtually at the same time
  • The first price extreme reverse buy-price envelope reverse addon was a combination of how extreme-buried momentum became, along with testing-holding the breakout location of the news reaction as support — with further discussion of continuing to trade and whether there were any issues with the Oil Renko chart moving into a price contraction range and/or consolidation

Oil Renko Day Trading Training Video

Renko Day Trading Video244:

  • Oil Renko trading after EIA news report – discussion of a price envelope reverse as a possible first and whether the ‘news is in the market’ and IF it is, whether system and/or method can take the trade
  • Discussion of price filtering and the impact on system and method trades for missing winning trades and/or avoiding losing trades – this was a trading period where price filtering was very important
  • Midline reject with mex flow and hook but it was at price, but this was also a break2 of a ‘very good’ trendline – clearly a system trade and why method could trade this on a discretionary basis with potential for continuation — price failure breakout -vs- price failure break
  • 3 potential trades where they were first price filtered and then consolidation filtered for method, and in this case the price-consolidation held giving 3 system losers — example of 2 midline rejects inside consolidation that didn’t have a hook, so system could avoid the trades

Oil Renko Day Trading Training Video

Renko Day Trading Video243:

  • Gold Renko day trading video BUT first some comments on the Oil Renko chart at the same time — the oil chart was untradeable-continued to be untradeable and there was no setup that would have given a consolidation breakout buy to be long for the eventual breakout move
  • Identification of trading prices, which came from 2 highs after the session break that would shift to support – appropriate since the first trade talked about was a short setup — later discussion of new resistance prices as make higher highs
  • The first sell is priced filtered so no method trade, but could it be traded if system trading – discussion of the previous swing diagonal and 2 potential areas that would count from and the one that couldn’t be used
  • After 2 new higher highs, discussion of potential of going into a sideways trading range with the first new high becoming a center line as something to watch-be aware of — the first trade was a price envelope reverse under the line followed by a midline reject [text book mex flow and sell hook] and line reject with room to the potential range bottom, so this trade[s] is still able to be taken

Gold Renko Day Trading Video

Renko Day Trading Video242:

  • Renko day trading video beginning at the price extreme reverse [last trade] from the previous video and the question – IF the next brick is green does the price extreme reverse become a price swing resumption?
  • To answer the question you have to consider price-slow momentum flow-fast momentum hook – discussion of where next resistance if this is a resumption — further discussing a double bottom low price -vs- the high before the breakout to a lower low, which is a brick miss test of the previous double bottom low
  • Fast momentum hook review – discussing the ‘hook’ as a setup component of a midline reject trade setup, along with comparison of multiple potential hooks and whether all necessary aspects of the pattern occur
  • After not trading a filtered price envelope buy, long midline reject1 + midline reject2 addon – these are followed by a price envelope reverse sell that is 1 brick from support — the initial trade is down 1 brick and the addon is down 2 bricks 1 brick from support and both trades are held and become profitable – compared to the non-filter tradeoffs of a system price envelope reverse that would give 3 consecutive losses -vs- method 2 gains

Renko Day Trading Video

Renko Day Trading Video241:

  • Renko day trading video begins by showing a trading area with the question ‘where is resistance’ – because the last brick shown is a potential price extreme reverse buy
  • The first price mentioned is the last lower low [before price envelope reverse] BUT you can’t select this price before comparing it to low from previous day and know whether this is actually a price test -vs- a low in a lower trading range – it was so this price is on the chart
  • Other prices [as you will see marked-discussed in the video] are another new low and a retrace high before lower low – and thus the price extreme reverse [question] can’t be traded because it is price filtered
  • 2 continuation trades after this point are discussed and if they are traded as an initial trade and addon trade OR whether they are filtered
  • Question:  When discussing trades to the left of our starting point I showed a price extreme reverse-price swing resumption AND that the PER was price filtered and the PSW didn’t have a look or mex flow – do you agree with this?

Renko Day Trading Video

Renko Day Trading Video240:

  • I have gone back to part of the chart from the previous video to discuss 2 specific questions that I have received (1) what if trading is done without using the price extreme reverse (2) why isn’t there a new resistance price after making a new high
  • Price extreme reverse discussion and how it was added to method, including many not ‘liking’ the trade setup – but further talking about the basic win-loss being at least 50% with the average winner being bigger than the average loser, along with the further benefits of reducing giveback
  • Trade example for price extreme reverse of winning price envelope reverse that makes the giveback 2 bricks instead of 4 bricks – followed by a price envelope reverse addon, with both of the 2 trades getting multiple partials -vs- a price extreme reverse of these 2 trades that has no addon and a 3 brick loss
  • Discussion of the significance of resistance as a double top high that even kept me from trading a price swing resumption break at that price — so when go to the new high and have a price envelope reverse is there a new resistance price – YES – but that doesn’t mean that the previous high isn’t now support an eliminated when it never tried to hold as support
  • Discussion of something talked about a number of times before = resistance-support area -vs- a single price only, along with seeing the further confirmation of the original price as a ‘to the brick’ reject

Renko Day Trading Video239:

  • Oil Renko day trading video starts at a price envelope reverse that is a system trade, but is it a method trade – this is a question that can only be answered by identifying trading prices that should be on the chart
  • Scrolling back left (a) initial resistance was the high [double top] after the session break (b) there was new resistance at a higher high-price envelope reverse that was also a double top (c) support under price (a) is the low before the breakout to the higher high — so we see that the first price envelope reverse is also a method trade
  • Trade1 goes to price extreme reverse underneath resistance, so it’s a method sell – which is followed by a price swing resumption at resistance that ‘technically’ has a hook and mex flow — this would never be a system trade and discussion about why this was a method exit -vs- method reverse back long
  • Price envelope reverse sell under price followed by a price envelope reverse that was at price – hold the sell without a buy [price filtered] and is only 1 brick against the entry — after the price [resistance] reject there is a price envelope reverse-triple break with mex just crossing and traded as a method addon – there is another price envelope reverse but it’s on a red brick and all trades held [this is only 1 brick against the addon]

Oil Renko Day Trading Training Video

Renko Day Trading Video238:

  • Oil Renko chart trading after EIA report, beginning with a midline reject with mex flow system trade that is price filtered for method – price identification including discussion of the low before the high price that was used, based on continuing relevance -vs- actual swing low before breakout to higher high
  • During this trading period, we see multiple tradeoffs between earlier system entries that are price filtered, along with earlier method price envelope reverse trades that system can’t take because of not having a 5+ brick previous diagonal
  • Discussions on price envelope reverse previous diagonal for system trade, especially noting that previous means the diagonal before the potential trade and not simply a diagonal that occurred earlier
  • Discussion for a midline reject with mex flow and a hook system trade that isn’t really a method trade because it is price filtered – what was the ‘discretionary basis’ for going ahead and doing this trade

Oil Renko Day Trading Training Video

Renko Day Trading Video237:

  • Review of method trades from previous video (a) 2 price envelope reverse sells below price at previous brick low, where a higher low synch with the PER wasn’t traded AND especially note that if the price was the low the trades would not have been done (b) the hold of a trade after a partial and a full brick close below midline
  • All of these decisions were based on momentum and momentum resumption potential (a) the 2 sell trades were mex ‘re-cross’ at the middle area so no extreme and greater than partial room to next (b) the hold of the trade never had a mex cross and the midline-price envelope dots continued to rise on the retrace — further discussion in the context of risk-reward and the resumption potential -vs- giving the hold 1 more brick
  • Price envelope reverse method -vs- system trade-offs for price filtering, along with discussing-identifying when a system price envelope reverse has a 5+ brick previous swing diagonal — note that a swing diagonal does not start where an across the chart trendline begins but the high-low brick of the last price envelope reverse in opposite direction
  • Management for buy-buy addon and move to a price extreme reverse at price, followed by a brick break below the price and then a full brick close below the midline = why closed addon after price break [exit on strength with mex extreme almost to max high] and then did nothing on midline break and held initial

Gold Renko Day Trading Training Video

Renko Day Trading Video236:

  • Gold Renko chart trading – gold volatility has picked up recently [when/why traded oil so much] and oil rolling from June to July front month adds ‘difficulties’ for trading
  • Clear price identification (1) original high after session break (2) new higher high becomes resistance and previous high shifts to support – can see continued price action at the price that keeps it relevant
  • Discussion of 2 price envelope reverses trades that would be price breakout [only] trades if entered on the price envelope brick – but when ‘squaring-off’ with the previous brick low, these trades are entered underneath price instead of at price with more than partial room to support — further discussion of what would have made a bear flag entry and where it would be entered to trade the flag as a price breakout
  • Price extreme reverse + price envelope reverse addon and the price extreme reverse gets partial and we get a full brick close below the midline – discussion of a basis for holding the trade instead of exiting (a) mex never went to an extreme (b) mex never crossed (c) the midline continued to rise — both trades get double partials if held [and there was reason to do so], where the initial would get partial1 and the addon would get partial2 if the initial wasn’t held

Gold Renko Day Trading Training Video

Renko Day Trading Video235:

  • Discussion of Renko method and Renko system in the context of price filtering – although system may be easier to learn because there is no need to identify price, method will be more profitable because of the effectiveness of price filters — which is why I continually try to discuss the most ‘relevant’ way of chart reading for price
  • Price envelope initial-midline reject addon are both method and system trades – but then there is a price extreme reverse on price that is filtered for method [both trades are held] which is a system reverse — the swing continues to another price extreme reverse after 7 more bricks where method profits but system has no re-entry
  • Price goes to higher high, but is this a new resistance price or a reject of the previous high and no adjustment – this is discussed along with adjusting previous prices including talking about the potential of having 5 prices on the chart inside of only 36 ticks, with virtually no room for trading from any ‘price to price’
  • Price adjustment to new high because not reject only but an attempt to shift the previous price to support before a price envelope reverse – and then since it was a new high price as resistance, the swing low before the higher high is used as support

Oil Renko Day Trading Training Video

Renko Day Trading Video234:

  • Review discussion of trading price and how it continued to be relevant -vs- a straddled price inside a range – with again pointing out that this price was significant as more than ‘simply’ being the after session break high BUT as a shift line that went from resistance to support, along with then becoming the low before a new higher high
  • Price failure break -vs- price failure breakout – the later would be a discretionary method trade because it is at price, but when it is a triple price breakout | midline reject with mex flow | 6 bricks of room to next support [like the trade discussed] then it is a discretionary trade that I am comfortable doing
  • Support breaks, where is the next support price AND note that it should already be on your chart from the previous trading in that range – chart scroll back left discussion, with the first scroll showing no price and then a second scroll showing a double bottom | shift-reject as resistance | 9 tick swing reject-breakout down, becomes next support
  • Continued trading as related to existing price = support-resistance break price envelope reverse and price break2 with mex flow-hook buys | price extreme reverse hold because the trade is on price | price extreme reverse hold2 because again the trade is on price — note this trade-off with system and the 2 losing trades because of not using price filtering

Oil Renko Day Trading Method And System

Renko Day Trading Video233:

  • Consider the following Oil Renko trading price action – session break high-price envelope reverse | higher low-price envelope reverse-breakout to higher high | higher high PMD-price envelope reverse — (a) where are relevant prices (b) what do you have to be aware of for continued trading?
  • Relevant prices are the (a) the initial high (b) the retrace higher low before the breakout to higher high (c) the new high – you have to watch the initial high and whether that becomes a continued straddled center line inside a sideways range denoted by the other 2 prices
  • Discussion of moving right and whether and/or how the trading prices remain relevant or whether they become adjusted to new prices
  • Discussion of the move into a trading range and the trades that can take before ‘too sideways’ and stop trading -along with how the trades are managed for addon exit-initial trade exit regardless of whether a price envelope reverse can be traded or not

Oil Renko Day Trading Method And System

Renko Day Trading Video232:

  • Last video ended short midline reject with mex flow and hook followed by another midline reject with a hook but no momentum flow – comparison of mex at time of each potential trade for (a) where mex was in terms of the .2 lower extreme and 0 maximum lower extreme (b) flattened mex going sideways and knowing that it can’t go lower without ‘resetting’
  • Discussion of the gray line that was looking at potential of becoming a straddled center line and how it remained relevant and shifted to resistance – especially after retest-reject followed by price envelope reverse and lower high brick that rejected the line again with mex flow
  • After the price action just described the price envelope reverse method trade but not system trade because no swing diagonal – however, there was a price extreme reverse system trade but not method trade because it was price filtered — so initial trades for both followed by a price extreme reverse-price swing resumption combination – is this a trade setup for method or system?
  • Where is next support for this last sell swing – discussion of going back left and deciding what trading price should already be on the chart and the price action that determined this price — you will end up seeing that this price rejected as the brick low when it was hit as an additional indication of relevance

Oil Renko Day Trading Method And System

Renko Day Trading Video231:

  • Oil Renko day trading video continuing with the ‘chart scroll’ from the previous video, starting with a price extreme reverse buy [starting with brick count ‘squaring off’ with brick low before price envelope reverse] followed by a price extreme reverse – is this a method and/or system addon trade
    • Not method trade because price filtered horizontally and diagonally – not system trade without 5+ brick previous swing diagonal
  • Discussion of horizontal-diagonal trade setup = price line break2-trend line break2 with mex flow and with mex flow – IF I already had done an addon this setup would have been a second addon
  • Discussion of price continuation that doesn’t go as far as ‘it should’ and into a lower high-PMD high – be aware of previous support becoming a straddle centerline with the PMD high and the previous swing low-momentum low becoming a range and/or consolidation IF the center line holds and range extreme also holds
  • Consolidation above centerline – what would a consolidation breakout buy look like AND after breakout below centerline was there a consolidation breakout sell setup
    • First trade setup after consolidation breakout [there wasn’t a sell setup] for method and system AND whether a midline reject with a fast momentum hook also had mex flow to use as an addon

Oil Renko Day Trading Method And System

Renko Day Trading Video230:

  • Oil Renko day trading video scrolling through a chart and pointing out specific aspects of method and system and discussing chart reading accuracy – I think it would be a good idea to do a few videos like this for review
  • Difference between a trade setup pattern and a tradeable trade setup where there is the pattern, as well as the slow and fast momentum components
  • Discussion of horizontal price resistance and support but how there is also diagonal resistance of support – textbook trendline connecting the highs of 2 price envelope reverses and how this became a filter for a price envelope reverse
  • Brick counting for a price extreme reverse – not simply 5 or more consecutive bricks of the same color BUT after the last price envelope reverse or trade setup — and in the case of a trading pattern regardless of whether it is tradeable, counting from where the pattern brick highs or lows ‘square-off’

Oil Renko Day Trading Method And System

Renko Day Trading Video229:

  • Continuation of the previous chart – discussing prices and comparing 2 typical [easy to identify prices] like the new session low and then lower low -vs- new prices found from continued lower lows and the high before the low AND then what happens to the previous low when it becomes an inside price
  • These are more difficult price reads – (a) new lows and when it actually becomes a trading price (b) understanding that the high before a lower low [the low before a higher high] are method prices (c) when an extreme [outside] price becomes and inside price and must be ‘read’ differently
  • Discussing the move into a range [-vs- consolidation] and how this is probably a worse trading condition for system because of the lack of momentum and thus the number of midline rejects that will occur after the price envelope reverse inside a range — stopping trading inside of a range
  • Range break trade setup and my first trade after 1 previous trade [new low-inside price break price envelope reverse] – you will recognize the ‘right side’ setup as one that we previous discussed as a pattern I would use for an additional addon – triple break-rising low | midline reject after inside price shifts to support | into range triple top breakout

Oil Renko Day Trading Method And System

Renko Day Trading Video228:

  • Oil Renko trading starting trading prices for period trading – initial low after session break and then new low preceding the retract to price1 as resistance — we talk about prices sometimes being difficult to identify but let’s not forget that often times they are quite simple and straight forward like these
  • Additional price discussion including prices needed from daily chart in March and last November becuase of how far oil has sold off — with additional discussion of a trading price type that becomes difficult, namely a new low that becomes the inside price between a retrace high as resistance after another breakout to a lower low
  • Sell swing that includes a method price envelope reverse sell [no system trade] and then a midline reject system trade that wouldn’t typically be done as a method addon because it was at price – but why I did the trade as a price failure-breakout trade setup
  • Sometimes it is more important to understand when not to trade then when to trade – discussion of potential move into a tight range straddling a center line, without having decent trading room while inside the range — this will be further discussed in the next video

Renko Day Trading Method And System Videos

Renko Day Trading Video227:

  • Oil Renko trading video beginning with EIA report – discussion of getting the news ‘into the market’ before trading -vs- trading the new [something I never do] or rushing to get a trade done
  • Note the price action after the news and the large number of bricks with no clear chart read -vs- starting to trade after seeing a shift from sideways and braiding mex to mex moving with flow-having slope to the midline-getting a double bottom at support
  • Trading price discussion about price identification and continued relevance, along with when-why a changed using yesterday’s low as support
    • I further mentioned again that price could be the more difficult trading concept to learn, which is a reason why we have been discussing the viability of Renko system trading
  • Was a good profitable trading period with the best trade being a price envelope reverse that both method and system could trade, followed by a midline reject addon that only system could trade

Renko Day Trading Training 2017

Renko Day Trading Video226:

  • Renko price envelope reverse system trade – must have 15+ ticks of previous swing diagonal, measuring from the price envelope reverse to the high-low of the previous swing
  • Price envelope reverse [system + method] – midline reject-triple break with a hook – this was done as a method addon but not a system add because mex had gone flat-overlapped so can’t ‘read’ mex flow
  • Discussion of this trade and then a system exit on full brick close with no partial — leading to talking about system and method and whether both of these can be traded together, or whether need to make the decision to trade one or the other at a given time
  • Discussion of 3 price envelope reverse setups and whether they had the previous swing diagonal to take the trade

Renko Day Trading Video225:

  • Continuing with the chart from the previous video and discussing the addition of the price envelope reverse trade setup to system trading – including talking about the size of the previous swing diagonal to take this trade — I explain why I would use at 5 bricks [or more] of room from the price envelope reverse to the previous swing high-low
  • Discussion of Oil Renko trading after the EIA report gets ‘into the market’ and the first trade [method trade only] – based on the price action of a rising bull wedge after a reject of the previous high as support and with a midline reject with mex flow-triple top break entry
  • Price envelope reverse method-system trade that becomes a method hold at price but a system exit – method addon is a bull wedge break setup after a double hold-reject of support
  • The video preceding adding the price envelope reverse-previous swing diagonal system trade, discussed trade offs between method and system – by adding this system trade, we find in this video that the trade offs were actually ‘higher’ for method because of filtered price envelope reverse trades that did break through the diagonal — hmmm…

Adding Price Envelope Reverse To Renko Trading System

To Renko system trade a price envelope reverse the trade must be through a previous swing diagonal – this will allow the trade to still be avoided inside of consolidation BUT allow it for the times that have the best ease of price movement.

Renko Day Trading Video224:

  • What is your hardest chart read – relevant trading price, inside of consolidation, or previous swing diagonal?
  • What has the greatest ease of price movement – horizontal and/or consolidation breakouts, or trading through a previous swing diagonal breakout potential?
  • Considering that the answer to these 2 questions are the previous swing diagonal is the easiest chart read and trading through a previous swing diagonal has the greatest ease of price movement – then why do we want to eliminate the price envelope reverse, which is a trade that CAN have both of these characteristics, when system trading?
  • The video discusses the price envelope reverse with diagonal breakout potential -vs- price envelope reverses without diagonals – and adding the trade setup to system trading, regardless that it can’t always be traded or trade mechanically

Renko Day Trading Video223:

  • skipped in numbering

Renko Day Trading Video222:

  • Question:  When I showed the filtered midline reject method sell winner reversing out of the losing midline reject buy – is this really a midline reject system sell?
  • I asked this question to be sure that everyone has caught on about the difference between a midline reject pattern and a midline reject trade setup that also has mex flow and a fast momentum hook – this had neither of the momentum components so the answer to the questions is no
  • Actually, there is a setup that method can do here which is a bear wedge-price breakout combination – I would have to consider this as ‘method discretionary’ since it was on price, but this an example of a discretionary trade that I can do — further discussion about a price failure break -vs- price failure breakout
  • Discussion of price extreme reverse-price swing resumption combination to reverse out of the losing trade and replace by a winning trade for both method and system – BUT these trades were preceded by a price envelope reverse winning trade that could only be traded by method

Renko Day Trading Video221:

  • Oil Renko trading, discussing system trade setups with method trade setups and again identifying some trade-offs between the 2 ways of trading
  • The most frequent tradeoff is system not being able to trade a price envelope reverse that is profitable and without having a profitable midline reject in the swing BUT think of a losing method price envelope reverse loser followed by a midline reject system trade that is filtered so method cannot do the trade
  • Question:  When I showed the filtered midline reject method sell winner reversing out of the losing midline reject buy – is this really a midline reject system sell?
  • Discussion of a midline reject sell and whether there was really a reject crossing below the bottom tick of the brick – and the remaining chart read for fast and slow momentum along with the price envelope dot and midline slope

Renko Day Trading Video220:

  • Oil Renko trading, discussing system trade setups with method trade setups and identifying some trade-offs between the 2 ways of trading
  • Renko system-method trade-offs (1) profitable method price envelope reverse that cannot be entered by system [if at all] until a ‘late’ midline reject that becomes a losing trade (2) profitable midline reject system trade that cannot be entered by method because it is price filtered
  • Follow-up discussion from yesterday about the difference between the midline reject pattern and the midline reject pattern + setup components and an allowable trade
  • Trade management for an open trade that has a price envelope reverse that happens against mex and/or on a counter brick AND that will not be stopped out – hold the trade with momentum and thus the potential price resumption

Renko Day Trading Video219:

  • Gold Renko trading starting at session break and showing how the trading chart prices for the area we are trading actually come from this new session because it began with a gap above the previous day high
  • The Renko trading video primarily focuses on the different between the midline reject trading pattern -vs- a midline reject trading setup – and the setup is identical for method and system, regardless that system uses no filtering for momentum
  • The trade setup is a combination of the midline reject pattern + fast momentum hook and slow momentum-MEx flow – and note that this flow is read for the move on a retrace -vs- the indicator direction or where it crosses
  • The distinction between the midline reject patterns not traded because they didn’t have MEx flow and/or a fast momentum hook became very important on the 2 charts discussed – trading the proper setup was profitable but trading the pattern only would have incurred numerous losses

Renko Day Trading Video218:

  • Gold Renko trading from yesterday afternoon – starting with price extreme reverse out of a large trading swing for both method and system, especially method because the system trade was a method addon after a price envelope reverse
  • After the profitable start for both, method continued to be profitable while system ended minimally profitable if not a loss [I didn’t count system bricks] – note some of the particular trading issues for system during the period that wasn’t necessarily typical
    • System had 2 price extreme reverse-price swing resumption double losers, where method never reversed because the trades were filtered and 1 of the price extreme reverses actually turned out to be a winning trade
    • System had a couple of midline rejects for an initial trade and then addon trade where at least the addon was a loser, where method was able to enter on profitable price extreme reverses that weren’t filtered that system could not trade
    • System missed a winning trade because what would have been a midline reject wasn’t a reject because the counter brick started right above the midline -vs- having the midline going through the brick

Renko Day Trading Video217:

  • Gold Renko trading after employment report – discussion of when the news actually gets into the market and feel comfortable trading, which does entail missing a first profitable trading swing
  • But why are we talking about Gold and employment news – actually, if you will look at the NQ CL GC you will see that by far the biggest news reaction was to gold after the employment estimates were missed by so much
  • Renko trading system trades are discussed after the first price envelope reverse, which can’t be traded and does cause a profitable initial trade-addon trade to be missed since the price envelope reverse is eliminated from system trading
  • The system trades using the midline reject and price extreme reverse ‘base’ parameters are discussed for the next 30 minutes of trading – using ‘intended’ entries-exits for 2 contract trading there would be 7 trades = 5 winners-2 losers and 20 bricks of profit

Renko Day Trading Video216:

  • If we were going to trade our method as a system we would have to eliminate the price envelope reverse setup because although we would miss some very good trades, this would be the only way to eliminate a large percentage of the consolidation trades
  • The Renko trading system would consist of the midline reject and price extreme reverse with the same method setup components and with a 4 brick initial stop and initial partial – you would still exit a trade on a price envelope reverse [directional brick] if it was less than 4 bricks and you would not try and expand your partial size
  • Discuss previous video chart trading to the left of the consolidation period, which was filtered by method and eliminated by system (1) the initial sell was a method multiple partial for an initial trade and addon but only a single system trade (2) the buy reverse had an initial trade and addon trade for both, with system getting the earlier entry (3) holding a trade at price when full brick close below midline [no partial yet and only 1 brick loss] and holding a trade for a price envelope reverse on a counter brick
  • Discuss previous video chart trading to the of the consolidation period, beginning with why the first method trade [not system trade] was not inside of consolidation (1) 8 brick method partial for the non-system trade (2) focus on the sell swing both for method and system trades and especially the horizontal-diagonal failure breakout sell and the method partial expansion -vs- system base partials

Modifying Renko Trading Method For Renko System Trading

Renko Day Trading Video215:

  • Review of yesterday’s chart and how a Renko trading method with our trade entry filters would be more profitable than trading our ‘base’ setups mechanically – and especially for avoiding trades that occur inside of consolidation
  • But this led to a question from a trader in the group – is there any way that we could trade a Renko system without filters?
  • So, I thought I would discuss this throughout the rest of this video and talk about a potential trading system and where the trades on the chart would be
    • BUT please note that I have not spent a lot of time studying this and cannot say what kind of results would be typical
  • My major focus if trading mechanically would be to eliminate as many trades as possible that would occur during inside of consolidation AND thus went through the chart by trading only the midline reject and price extreme reverse setups
    • Price envelope reverses would only be used to exit an open trade [IF they occurred on a directional brick] – but not to enter a trade
  • NOTE:  Although I will discuss this further I am not suggesting to system trade instead of method trade – but it is something that could be worth looking at

Renko Day Trading Video214:

  • Renko chart trading video discussion with an initial focus on the difference between a Renko trading system and a Renko trading method
  • When you refer to your Renko chart trading, do you sometimes say you are trading a system and sometimes say you are trading a method?
  • Renko trading system and Renko trading method are often referred to as being interchangeable.  However, these are not the same and there are significant differences in how each of these would be traded.
  • Discussion of a transition from base method trading to a consolidation period where no trading should be done – during this period there was 1 losing trade before consolidation was recognized [and after 1 losing trade was price filtered and another losing trade was momentum filtered] but after that trade was done there were 8 more losing trades that were consolidation filtered

Renko Day Trading Video213:

  • This video focuses on identifying support prices on day1, which held and led to an upside breakout – and how they become support on day2 and the next price moves to the same level
  • Trading related to the support prices and when they were identified and why they were initially moved to the right – and the price action that continued to keep them relevant
  • Breakout to lower lows and addition of new price and then how price straddled what became the inside price and gave a consolidation + tight range period where I wouldn’t trade
  • The first trade I then did was a support + momentum extreme reject – 3 point down trendline breakout that started at resistance price in range – the move did continue through the trendline and moved through the next 2 resistance prices

Renko Day Trading Video212:

  • Oil Renko trading video begins by identifying trading prices, where we find that we have around 30 ticks of room to trade, meaning that if we got a trade in the middle of the range that we would have about 15 ticks or 5 bricks of room if we go to either extreme – based on this range, should we only trade if we get a selective trade setup?
  • I began the video this way and asked the question as a follow-up to yesterday’s video and to ensure that nothing was taken out of context – where any time a trading range is identified that Renko base trading won’t be done — this is definitely not what was said yesterday and none of the characteristics of an untradeable range existed
  • Discussion of a resistance area and support area, where after a range breakout to higher high and also lower low – the previous high and low still remain on the chart IF its relevance continues to be confirmed
  • The importance of not deleting relevant prices after the new high-low, as it became the difference between trading-not trading 3 trades that were losing trades

Renko Day Trading Video211:

  • Discussion of Renko chart trading setups and comparing Renko ‘base’ setups to Renko ‘selective’ setups and when it could become important to trade the more selective setups while staying flat for the base setups only
  • A Renko selective setup would be one that additional trade setup components besides the indicator combinations that make up our Renko base setups – by adding setup components the profit odds of the trade is increased
  • A price envelope reverse is a base trade setup, but take that setup and include a price failure break component with mex flow [-vs- mex direction cross] along with a diagonal breakout potential component and you have turned this into a Renko selective trade setup
  • Discussion of why the Renko trading chart is during a low odds trade period and determining whether there were any selective trade setups to do while staying flat the base setups only – again, because of the trading period AND not because I am trying to pick and choose between trades

Renko Day Trading Video210:

  • NOTE that videos207-208-209-210 all use the same chart, so you will want to watch these in this order
  • Is the diagonal breakout potential for the sell[s] ‘better’ than the potential for the buy[s] – the answer to this would first be based on price ease of movement and whether there was any point in the previous diagonal that would act as support or resistance on a retest — also discuss a diagonal with no counter bricks to one that does have counter bricks
  • Consider that there was an M pattern breakout on the way down -vs- a midline reject with mex flow-momentum hook that did not alter the slope of the midline – does that triple break breakout give a price that could act as resistance on the way back up and thus trade the odds of continuing through the diagonal
  • Pattern breakouts addon2 and addback trade size based on risk-reward, meaning the odds of continuation through the diagonal -vs- rejecting at a resistance price – scenario discussion for the price from an M breakout shifting to resistance
  • Discussion of price adjustment and related trading implications when the buy swing breaks through previous resistance and the previous high price

Renko Day Trading Video209:

  • Again discussing the importance-implications of Renko price location and especially the multiple ways that price can affect trading – which is greater than simply whether a trade entry has been filtered or not
  • In the previous video[s] we talked about the sell swing the previous diagonal and IF support was the shift of the breakout of the news high, then we would not have had the price ease of movement-diagonal breakout potential for increasing partial size and the pattern breakout as a 2nd addon —besides reviewing this I also want to discuss the diagonal-momentum combination, when deciding what trade size to do for an addback
  • Discussing the adjustment of the left side price with the support Renko chart support price and the implications if this wasn’t done – not only for the number of bricks entry difference between the price extreme reverse and price envelope reverse BUT for profit giveback of all the trailing contracts that were open, because of maximizing trade size on the swing down
  • Additional trade management discussion for exiting a trade on directional strength = trade to the end of the diagonal with mex ‘buried’ at the downside extreme

Renko Day Trading Video208:

  • Why are we looking at the previous chart again – to re-emphasize price identification and its importance for method trading, regardless that it may appear to have not mattered for the trading of this chart BUT was that really the case?
  • If the bottom price wasn’t adjusted then a price extreme reverse winner would have been filtered – If the lower high-higher low news prices had been selected then we wouldn’t have had the basis for expanding our partials to the extent that was done
  • AND what if there was a price pattern breakout setup that was filtered by the price – that would have been another addon that couldn’t be done because of a price that really isn’t chart relevant
  • Answering a trader question:  Why was the price envelope reverse sell and the 2nd midline reject trade done but not the first midline reject trade – answering this question and discussing whether that 2nd midline reject was actually a pattern breakout addon2

Renko Day Trading Video207:

  • Continuation from Video206 chart – reviewing the Renko trading prices that are currently on the chart and why the original support price was replaced with a new price, which was a price action price = new chart low break and retested as double brick break reject to new lower lows
  • Discussion of the high after the news as relevant resistance and the low after news as support and if these could be relevant prices, would they still be relevant if they were both a higher low and lower high inside of a range – AND what difference does it make if the price doesn’t filter the next trade to be done
  • Discussion of price action and why the resistance price on the chart was retained on the chart regardless that there was a breakout to a new high = price breakout but not test-shift as support and breaks below instead, followed by 2 tests-rejects as support after price envelope reverse
  • Partial price expansion risk-reward and a time when had to take a 3 brick partial because of a counter brick after 4 bricks -vs- a trade where was able to get 8 brick partial instead of 4 bricks – IF compared 3 brick counter brick partial to 4 bricks on price extreme reverse + price expansion when no counter brick, we can see that this is a viable Renko trade management strategy when trading through the previous swing diagonal

Renko Day Trading Video206:

  • Renko Trading Prices Strategies And Chart Significance
  • https://renkocharttrading.com/renko-trading-prices/
  • In this Renko trading prices article and video, I am going to discuss the significance of Renko prices to our charts, along with using them in our trading strategies.  And then after identifying the Renko prices that will be used in the range we are trading, we will continue to move the chart to the right and determine the following:
    • Do these Renko trading prices remain relevant for trading
    • If a price is not still relevant how should we adjust the chart for new Renko prices
    • Are there any additional prices that should be added to the chart

Renko Day Trading Video205:

  • Renko trading video204 review for the trading prices used – were these trading prices chart relevant or were they selected because they ‘fit’ the price pattern strategies discussed?
  • Price action price discussion – no, the top price line was not actually the left side high, but it was a double top high that broke out and never became support AND then after breaking back through the price, it rejected as resistance as price went to lower lows
  • That price was already on my chart for the next day when trading was done – and I would say that the price action around that line in both directions before it broke out to higher highs was from price relevance and not coincidence
  • Discussion of the pattern trade as a price reject-pattern breakout -vs- price failure or price pattern breakout [there is a difference as you will see in the video – and in this case we would have a horizontal-diagonal breakout initial buy + midline reject addon + midline reject addon2 = price pattern breakout used for a 2nd addon

Renko Day Trading Video204:

  • Renko price pattern breakout strategies – price breakout only -vs- Renko base setup -vs- price pattern-price failure combination
  • Renko price patterns traded = triple break-higher brick low-momentum build buy and M pattern-triple break-price break sell
  • Significance of the pattern breakouts is seen in price continuation, where the first price break-midline reject might retrace, followed by the pattern break setup that gives price movement
  • Discussion of this continuation importance when trading, where the pattern break trade setup are times when I would do a 2nd addon trade – note that to do this size increase before any partial profit [like in the case of an addback] I would want 4+ bricks of room to a price target -vs- the 3 brick price filter rule

Renko Day Trading Video203:

  • Continuation from the previous Oil Renko trading video – are the trading prices still relevant or should they be adjusted, and should any new prices be added to the chart
  • Swing highs and lows that don’t move to actual chart resistance or support are not trading prices – the exceptions would be if they were double tops or double bottoms, or a reversal point that led to a new high or low
  • Discussion of a price failure-price pattern break combination trade setup, and then a comparison to a similar pattern and whether it is the same and should be traded the same way
  • Discussion a horizontal-diagonal trade setup – what it is and how the breakout was trailed for an expanded profit

Renko Day Trading Video202:

  • Oil Renko trading prices and having to go back multiple days to find them, including each price coming from a different day – because that was the last time we had traded in those ranges
  • Price envelope reverse sell held against 2 price envelope reverse buys, because after the sell was done the chart went into consolidation – but price [that was also the consolidation high] continued to hold and was only 1 brick of loss
  • The sell broke out of consolidation without an addon but went to a multiple partial profit and then to a price extreme reverse – discussion of holding the trailing short and whether there was an addon setup that followed
  • Price extreme reverse followed by a midline reject – should another reverse be done as a swing resumption trade AND if not is the following price envelope reverse an addon to the original trade?

Renko Day Trading Training Video202

Renko Day Trading Video201:

  • Oil Renko trading chart marked with 7 Renko trade setups but no trading prices – I did not take any of the 7 trades, why not?
  • Discussion of the trades filtered for momentum and consolidation – trading prices were then added and the price filtered trades were discussed
  • There were actually 8 filtered trades – 1 missed winning trade and 7 losing trades
  • A trend line was added to the chart and the related trade – trend line + price diagonal breakout -vs- horizontal breakout only
  • A pattern that was around the consolidation period added to the chart and the related trade – pattern breakout -vs- consolidation breakout only
  • Discussion of 2 multiple partial trades and only 1 had diagonal breakout potential to try and extend a partial profit, along with how price inside of the diagonal affects partial expansion

Renko Day Trading Training Video201

Renko Day Trading Video200:

  • Discussion of 2 Renko trading prices – what they are and where-why the price became relevant to the chart AND whether multiple related trade setups are traded or filtered
  • Discussion of price straddling, where one of your trading prices won’t shift to support or resistance but instead price continues to make small moves above and below the line – and how this gives consolidation in the area
  • Discussion of a trend line that although isn’t across the chart and is it relevant – it does span multiple price envelope reverses and has hit at 3 points
  • What are the ‘odds’ that a price envelope reverse will follow a full brick close above-below the midline, especially if mex has gone extreme
  • Watch video with this one – it is the same chart discussed again, but with more focus on price than a total method discussion:  How Price Is Used In Our Trading Method

Renko Day Trading Training Video200

Renko Day Trading Video199:

  • Gold Renko trading chart discussion, starting with the question – why isn’t the price envelope reverse traded, but a midline reject buy is done
  • Multiple answers suggested (a) a potential trading price that would filter the initial trade, but that same price would filter the trade that was done (b) a different potential trading price that would filter the initial trade, with the midline reject being a price failure trade – but that wasn’t the answer
  • The question was answered by drawing a trend line that was resistance to the initial trade, but a break2 for the midline reject
  • Trading pattern discussion for an addon that was done – this was a W pattern, where the double bottom was at support and the entry was then a triple break, which an additional break of then trend line with mex flow and even an extreme hook

Renko Day Trading Training Video199

Renko Day Trading Video198:

  • NOTE:  Watch video197 before this video – it is a trade management video focusing on the period before this chart and partial profit expansion
  • Price extreme reverse sell breaks support with no ‘stall’ through the left side diagonal – discussion of extending profit from a 4 brick partial to a 12 tick profit
  • Partial profit expansion and trailing for a price extreme reverse, but at support taking a profit on strength -vs- a price extreme counter brick that would become 2 more bricks of giveback
  • 4 brick initial stop -vs- using a bigger stop for support [price] BUT also holding an initial trade for a price envelope reverse at price and momentum flow
  • Discussion of a previous swing diagonal and trying for partial profit expansion -vs- a diagonal that wasn’t also from the previous swing and a base partial taken

Renko Day Trading Training Video198

Renko Day Trading Video197:

  • Renko day trade management, discussing initial profit 4 bricks|stop 4 bricks, bigger stop and/or trade hold for price, and partial expansion — this is 1 of 2 videos, focusing on partial expansion
  • With a 1:1 initial profit-stop, we typically get a better ratio from actual trading – being able to have times where we can expand the partial size helps widen the ratio further
  • Expanding a partial through a previous swing diagonal – discussion of what this is and why price moves easier through these
  • Expanding partial risk-reward and why we wouldn’t use 1:1 [really don’t want only 2:1] regardless of horizontal breakout potential we want 3:1 or bigger — what is expanded partial risk-reward
  • Trying to expand partial and trailing for a 5+ brick extreme reverse-counter brick, regardless of whether the price extreme reverse was actually traded

Renko Day Trading Training Video197

Renko Day Trading Video196:

  • NOTE:  Watch video195 before this video – it covers the trades marked on the chart
  • Renko trade management discussion of trade stop before they are profitable and trailing stops after they are profitable, further differentiating for trades that include addons
  • Price envelope reverse sell goes 3 bricks and then back above the midline, where it is losing 1 brick BUT the price envelope is still in sell and MEx hasn’t crossed – hold this trade as it hasn’t been stopped out and the indicators support the hold
  • Price envelope reverse initial trade + price failure break addon AND the 2 trades go to a price extreme reverse that is price filtered as a trade – discussion of exiting on strength for the addon, with further discussion on exiting before the full brick close below the midline based on the extreme momentum read

Renko Method Training Video196

Renko Day Trading Video195:

  • Discussion of Renko chart trend lines as diagonal support or resistance, and using them for price filtering similar to horizontal trading prices
  • Trend lines must have at least 2 points and you want them moving across the chart with ‘moderate’ slope – meaning that trend lines that are essentially vertical or horizontal lines aren’t what we are looking for
  • Look at the reaction of a price envelope reverse a brick from the trend line and how it rejects – filtering what would be a losing trade
  • The trend line break that is tradeable is actually a bull wedge pattern that has been made across a number of Renko bricks and reverses – do not enter the trade on the trend line test, enter on the brick close above the trend line

Renko Method Training Video195

Renko Day Trading Video194:

  • Emini NQ renko chart trading – start the video with 4 marked circles and ask if these were all renko method trade setups
  • The answer is yes BUT we hadn’t added our trading prices yet – when we go back to the left and mark the chart for what was a double top high and a double top higher high, all 4 trades were price filtered and avoided losing trades
  • Discussion of price filtering for trade entry and for trade management – a trade was held against a price envelope reverse a brick above support, additionally there were trade setup filters for momentum and a transition into consolidation
  • Discussion of profit expansion through the previous diagonal, where the trade had a 3:1 risk-reward to next price or the next counter brick

Renko Method Training Video194

Renko Day Trading Video193:

  • Oil renko chart trading note – the oil renko chart is being traded as a 3 brick renko chart, and the initial partial is 4 bricks and the initial stop is 4 bricks
  • I realize that the first oil trades used a 2 brick chart and a 3 brick stop, but that was previously changed to keep our renko method trading consistent between different contracts
  • Renko chart trading price discussion (a) overnight high resistance (b) reverse-sell price after news release becomes resistance after hitting as double top (c) not adding higher high price as new chart trading price, until there is a swing reverse
  • Discussion of multiple price extreme reverse-price swing resumptions and why the resumption trade was a filtered trade
  • Discussion of multiple price extreme reverses that were filtered trades, which was also a trade hold-management filter

Renko Method Training Video193

Renko Day Trading Video192:

  • Gold renko chart reviewed for price – there are 2 prices on the chart, which one belongs there
  • Scroll to the left on the chart to find the price, and we find that 1 price was the overnight high that is now being retested as support and that 1 price is a swing low brick break test of that price — it’s the left side price that belongs on the chart
  • Discussion of renko chart trading price selection and adjustment while trading, and especially focusing on price action – the prices that reverse to new highs and lows in large moves — the previous high and previous low tend to become support and resistance
  • Discussion of left side price support that became a consolidation high after a breakout – was there a consolidation breakout setup or breakout only AND after the breakout and price envelope reverse and move under the previous resistance price, would the trade entry be a trade inside of consolidation

Renko Method Trading Video192

Renko Day Trading Video191:

  • Gold renko chart trading and review, starting with discussion of price and if/how they are relevant to the right of a vertical line, and then going back to the left to determine where they came from
  • Understand how the price action at these prices on the right side is confirming their continue relevance and that they belonged on the chart as trading prices
  • Price importance as a renko trade setup filter, but also for trade management – price may be a profit target, as well as a hold on retrace before a profit — consider a price extreme reverse that goes up 2 bricks but then retraces 4 ticks – the trade has not been stopped out and there is a double bottom-price hold
  • Price-indicator combination renko trade setup – any time we have a combination, we have increased the odds of the trade

Renko Method Trading Training Video191

Renko Day Trading Video190:

  • Gold renko chart trading and review, starting with discussion of 3 chart prices (a) left side double top and high before lower low (b) new lower low (c) previous low that is support when above it-resistance when below it – providing the price has remained relevant
  • Price trade setup filter miss of winning trade at beginning of video BUT the same price is not filtered for a price envelope reverse renko trade setup and midline reject add – there are also 2 losing trades that are avoided from this trade setup filter
  • Combination price and indicator component increase the odds of your chart read – both for a trade entry, along with trade management and holding a trade
  • Discussion of trading swing with multiple addbacks – which ones can be traded and which ones should be filtered

Renko Method Trading Training Video190

Renko Day Trading Video189:

  • Gold renko chart trading discussion-review, focusing on a trading price that affected trading across the chart – BUT was it a relevant price that should remain on the chart
  • ‘Middle’ of night trading review, discussing where the trading price came from and related trades – specifically note the discussion of the price extreme reverse-price swing resumption trades
  • Trading breaks into a new range BUT the original price has remained relevant and becomes resistance – further discussion of new price added to the chart, and trading relevant to that price
  • Remember the price discussion yesterday where a new high wasn’t used as a trading price, because it was part of a continued swing with no reverse – this price is a new low and there is a price envelope reverse, so the price is added

Renko Method Trading Training Video189

Renko Day Trading Video188:

  • Gold renko chart trading discussion-review, starting with left side price brick break rejects – as a test of the price –vs- changing your trading price to the new brick break high-low
  • Yes, not moving your price may be a trade setup filter for an upcoming winning trade – but how many times does the price retest [considering 3 bricks of room if adjusted price] hold the original brick and reject again
  • Discussion of a new high that makes higher highs in the same swing and the point that I didn’t mark price until the higher high-pmd high test [followed by price envelope reverse – and that if there had been a reverse-resumption at the new high; I would have had that price marked
  • Trade scenario discussion if marked the new price high –vs- the higher high-reverse price – and how you still would have been trading 2 winning initial reverse, and would have a winning addon in 1 case but not the other

Renko Method Trading Training Video188

Renko Day Trading Video187:

  • NQ renko chart trading discussion, mentioning that this has been trading recently but focusing mostly on oil and gold, which are newer to the method – additionally that these different time frames that I am talking about are also to reach the different areas the group lives
  • Resistance reject-price envelope reverse sell went 10 ticks to the swing low – was there any basis for extending the partial, and how was the trade managed and/or reversed for a price extreme reverse
  • Discussion of bull flag buy setup –vs- taking a trade that is entered before a mex cross – note that this would be the typical case when flag patterns are traded – I would enter this trade on the next brick after the break, which also synched with the mex cross
  • Similar partial expansion discussion to point2 and again where the price extreme reverse trade was/could be done – followed by 2 addon setups that are indicator-price combinations = price failure + midline reject, with mex flow and an extreme hook

Renko Method Trading Training Video187

Renko Day Trading Video186:

  • Gold renko chart trading discussion, especially focusing on different aspects of trading method (a) indicator + price trade setup filter (b) momentum extreme filter (c) pattern trade –vs- indicator setup trade
  • Price envelope buy setup, but mex has not crossed and the trade would be 1 brick from a double top high – there was a triple top breakout that would have been profitable –vs- scenario discussion of a brick break-fakeout breakout that reverses
  • After breakout not traded and a price extreme reverse sell, the sell was held –vs- a price swing resumption that would also be a high breakout and at momentum extreme – holding the trade avoided a loss and a missed winner that was a bigger profitable than the missed trade
  • Discussion of bear flag pattern sell as a consolidation breakout –vs- no trade because the price envelope reverse into this trade looks like a trade into prior consolidation

Renko Method Trading Training Video186

Renko Day Trading Video185:

  • Gold renko chart afternoon-then after the session break – again focusing on whether the chart would ‘draw’ you to it if you were flat or trading another underlying
  • Although I traded 2 midline reject with mex flow after the price envelope reverse, there was nothing ‘additionally compelling about the setups BUT then notice the price momentum divergence-wedge breakout reverse, with diagonal breakout potential – these are the kind of setups that would ‘draw’ me to a chart
  • Multiple renko trade setups with diagonal breakout potential from the previous swing – discussion of profit expansion risk-reward and whether ‘should’ try to expand the partial or take the base 4 bricks
  • Price failure break sell-price failure break + midline reject with mex flow addon – price retraces 3 bricks on a price envelope reverse BUT against mex and no buy could be done because 1 brick from a double bottom at the high — how does the trade[s] get managed

Renko Method Trading Training Video185

Renko Day Trading Video184:

  • Gold renko chart AND first video for 2017 – especially focusing on some key method items for review, along with some specific comments for a group of traders who just joined the group
  • Evaluating the efficacy of price and indicator filtering, especially after a price envelope reverse was a trade setup price filter and an addon setup was indicator filtered – both big winners BUT is the filtering of winners the norm, or is avoiding losing trades
  • Discussion of the trading price on the chart from the left, along with the 2 new prices added from trading – and why the resistance price was the original high –vs- a new brick break high, based on momentum and how the high was made
  • 2 large trades that have multiple partials for 3+ contract traders for the initial trade and an addon trade, along with a profitable addback trade – what is an addback trade, and note how this time the initial trade was not price filtered, but a price extreme losing trade was filtered including the basis for the addback setup

Renko Method Trading Training Video184