Renko Day Trading Training Videos 2018

Renko Day Trading Training 2018

The videos on this page are the Renko day trading videos that have been done for 2018.  As you can see from the video descriptions, we are Renko trading gold, oil, and the British pound – and for index futures Renko trading, the emini russell, emini dow, and emini nasdaq.

You can also watch Renko training videos from 2017 that are still current, for how the method is being traded, by clicking the link:

Renko Chart Day Trading Training Videos 2017

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
    • BP CL GC – Renko brick 3
    • YM RTY – Renko brick 3
    • NQ – Renko brick 4

 

Renko Day Trading Video369:

  • Renko chart British pound trading prices when begin trading (a) support = new low with multiple holds since session break, which is additionally significant as we haven’t been this low in a number of weeks (b) resistance = double bottom swing low from 2 previous days ago – this price has just broken as support and then rejected as resistance
  • Renko price action center line (a) new low triple breakout (b) retest-reject from support to resistance (c) break down to lower low – no trading inside this price and the lows because of sideways movement-consolidation
    • Renko trade1 =  price envelope reverse-channel breakout sell – price action had shifted from sideways consolidation to a move up into a higher low-higher high channel and resistance test
  • Support-low break out gives the sell a double partial and a price extreme reverse buy – this was followed by a price resumption-midline reject sell BUT again, after breaking to lower lows, the price went into consolidation between the new low and the previous low as resistance
    • Continued discussion of trades not taken because of being price filtered and trades held because the reverse could not be traded and the existing trade only had 2-3 bricks of a loss against it – typical of what can happen inside of consolidation when there is an open trade hold -vs- a consolidation breakout setup
  • The consolidation hold [buy] eventually had a move back to resistance and a reject into a price envelope reverse sell that had enough slope-room to support to trade – this trade then had a midline reject-mex flow with fast momentum hook addon
    • Note that the addon was not done on a first swing resumption price envelope reverse [the initial trade was held against a price envelope reverse that was on a counter brick] but when there was a Renko chart read for continuation, which was the midline reject trade setup

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video368:

  • Renko chart British pound trading – continuation from the previous video

Renko Day Trading Video367:

  • Renko chart British pound trading prices come from left of session break (a) resistance1 = swing double top (b) support = swing double bottom + price action confirmation, as it’s a price failure break-swing resumption to lower lows
    • (c) The trading prices above come from the previous day, but when resistance breaks you need to go back to days to find resistance2 – which is a swing double top AND if you look further to the right, you will see its continued relevance as a brick break reject
  • Renko trade1 comes after a price envelope reverse sell that is filtered for support and then a price envelope reverse buy is done BUT note the further pattern (a) support double reject (b) 2 point down trendline (c) trendline break-price envelope reverse
    • The Renko trade setup is a combination indicator trade-wedge breakout pattern trade and would have been traded if the mex cross had lagged on the entry brick because of the continuation in the pattern
  • Discussion of a Renko price failure breakout and price failure break and the differences between trading a breakout pattern and a failure break
    • The failure break is going to have mex flow and very often a fast momentum hook, where the continuation after the breakout needs further evaluation – which is where price patterns are typically involved
  • Renko price reject-price extreme reverse sell is held for a price momentum divergence retest of price – if a price momentum divergence high = higher high price-lower high momentum, then what is a price momentum divergence failure?
    • A price momentum divergence failure is where a previous divergence would fail and momentum would resume, similar to a price failure at support or resistance failing to remain as support or resistance
    • The price momentum divergence failure is a momentum resumption trade setup that has been used as a resumption trade, including an add-on if the initial trade has been held – in this case, there was a price extreme reverse sell that was reversed again on a price momentum divergence failure setup

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video366:

  • Renko chart British pound trading, continuing from the previous video – has there been any change-adjustment to trading prices (a) last trade is a failure break of previous resistance as support so that price shifts to back to resistance (b) support1 and support2 remains the same from price relevance from previous Renko trading
  • Discussion of trading pattern and whether it has the continuation potential to use it for a 2nd addon (a) support failure break addon1 (b) double-midline reject with fast momentum hooks after a test-reject of price (c) the 2 midline rejects leave a triple break setup
    • Sell midline reject2 as addon2, through the triple break and more than partial room to next support – NOTE that mex has flattened but there is still a fast momentum lead and there is still room to the lower extreme, let alone the lower maximum extreme
  • A reason for wanting to do the 2nd addon is because this is a continuation pattern through a previous swing diagonal to support AND if there is only a 1 brick move then there will be 2 partials from the open trade and thus a reduction of the trading size
    • Price does continue to support, giving a +4 +8 +12 exit on strength and double partial on addon1 – addon2 also partialled, giving additional profitable trading size on the bigger move
  • Discussion of a price extreme reverse buy, followed by a 4 brick midline reject and why the trade was held against the pattern and then through an extended move into price consolidation that included multiple price envelope reverse sells
    • There was never mex flow or a fast momentum hook for the midline reject and thus clearly into a price momentum divergence – and price never moved more than 3 bricks against the buy during consolidation

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video365:

  • Renko chart British pound trading prices and whether the price is relevant through price action or is there only a matching of up and down counter bricks that really don’t mean anything
    • A price at one of a session low-swing low and at a retrace low after the price breaks is simply matching a price – there are numerous low prices that are just as relevant like the retrace low could have been a different price as well
    • But when there is a swing low followed by a price envelope reverse that later becomes tested with another swing low followed by a price envelope reverse, you then have a swing double bottom trading price
  • The left side swing double bottom also retests as the low after the session break, giving price action that confirms the relevance of the price – (a) resistance1 is then the high after the session break that is also rejected twice and followed by a price envelope reverse (b) resistance2 is the high of the previous day
  • Discussion of 2 price swing resumptions (a) price extreme reverse sell-midline reject with mex flow-fast momentum hook is a resumption trade-buy reverse (b) price envelope reverse sell-price envelope reverse buy at resistance cannot be traded as a swing resumption because the trade is filtered
  • Discussion of a pattern trade after a filtered trade (a) price envelope reverse at resistance breaks out and retests-rejects price as support (b) midline reject higher low-mex cross back [not mex flow] (c) buy the midline reject-momentum resumption is also a triple break pattern setup, with more than partial room to next resistance

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video364:

  • Renko oil trading prices, discussing the price action that made a price momentum divergence counterpoint before the session break first resistance, with the high after the session break next resistance
    • A counterpoint is the retrace ‘inside’ the 2 extreme points of a price momentum divergence – in this case, and a price momentum divergence high, the counterpoint is the low between the price-momentum high and the higher price-lower momentum high
    • The related price action comes from the counterpoint becoming a double bottom and the higher low into the breakout to the after session break high
  • Trade1-2 = price-consolidation failure breakout initial buy [mex flow-fast momentum hook] + midline reject-price failure break addon [mex flow-fast momentum hook]
    • In the initial trade, the price fails to remain resistance and the area fails to remain consolidation – in the addon trade the price fails to remain consolidation and is entered on a break2 -vs- breakout
  • Renko price extreme reverse trade setup and trade management – trade1-2 gain 2 partials on the initial + 1 partial on the addon AND then exit with a price extreme reverse, so the trade[s] only have 2 bricks of giveback and are both profitable
    • But this is also a profitable entry that partials and goes 3 more bricks in the direction of the trade, so no partial2
  • Discussion of support reject in the trade swing and reducing size above the support price to minimize giveback – based on trading size that would still have if it turns out that support fails and there is price continuation

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video363:

  • Renko British pound and looking at trading prices after the low after the session break (a) low before the price envelope reverse = support (b) resistance = left-right price and is the previous daily high BUT what about the price that would be trading into – is this a left-right price or a right side price action price?
  • Discussion of left-right price -vs- right side price action price and the difference between price action and price matching – the inside price is left-right and there is eventually price action confirming the price, but initially, it would simply be matching swing prices
  • Trade1 doesn’t come until a price reject-price envelope reverse buy and no midline reject addon is done because of seeing a fast momentum divergence with price – this actually led to a price envelope reverse sell + midline reject addon that does hit-reject previous resistance as support and showing price action
  • Price envelope reverse buy-price extreme reverse sell and a discussion of a price swing resumption buy that was done [in the context of the previous price momentum divergence addon that wasn’t done] + midline reject addon – these trade broke out with momentum and both gave double partials

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video362:

  • Renko oil futures day trading prices discussion and (a) price from before session break -vs- price action after session break (b) resistance-support price -vs- resistance-support area
    • Resistance = previous day’s high and double top but this price breaks by 2 bricks after the session break – retain the left side price because of its significance OR use both prices as a resistance area, but do not eliminate the left side price for the price test-break high
    • Support = after the session break there is a low that is also a double bottom that holds until start trading – this price-price action gives a price after the session break
  • Potential trade1 = (a) price envelope reverse sell that is filtered for support (b) price envelope reverse buy after the support test but this price is filtered for a down trendline as resistance
    • Discussion of wedge pattern and the related trendline and when this is a breakout trade entry -vs- a filtered trade that is not done
  • Trade1 = price envelope reverse buy but was this really filtered by the previous down trendline from the wedge pattern?
    • Price envelope reverse buy followed by a midline reject with mex flow-fast momentum hook – discussion of trailing a price extreme reverse for trade-giveback management and where a partial would be done that isn’t 4 bricks
  • In the trade1 buy swing, there is a 2nd midline reject with mex flow-fast momentum hook + partial room to resistance
    • Discussion of this trade as a 2nd addon and/or addback AND ultimately how this gave a +4 +8 +12 gain on both the initial trade and addon trade – and our method’s objective of the biggest price moves also having the biggest trading size

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video361:

  • Renko oil futures day trading prices after session break (a) previous day swing double bottom before daily high – note the price action and how this price breaks as resistance and shifts to support (b) previous day high becomes resistance
  • Renko trade1 = price envelope reverse – are there any other trading prices that should be on the chart from price action after the session break that might filter this trade?
    • Double top high is an inside price to the resistance-support range discussed above, with further relevance from breaking and then shifting-rejecting to a higher high that breaks the previous day high
    • The trade is not filtered but it is a losing trade without a partial and the following price envelope reverse is a filtered trade because it is into the new high – note that the new high[s] become outside resistance
  • Renko trade2 = higher high-price envelope reverse with additional room to centerline support, followed by a midline reject with mex flow-fast momentum hook addon
    • Both trades get partial1 and then break below support, where they are being trailed for a price extreme reverse – the price extreme reverse is filtered at the brick high, so the trade remains short with no reverse and goes down for additional profits that include a +4 +8 +12 exit
  • Trade management for a support-resistance reject with both mex indicator lines at a maximum extreme
    • Renko trade2 discussed above gained 2 partial profits and went to support with a maximum extreme – this was a 4 brick move and gave the +4 +8 +12 exit
    • BUT even though there were only 4 bricks -vs- 5 brick price extreme, I would have taken the profit at the price-momentum extreme to protect against giveback and I would have done the same thing if the addon only had 1 partial profit

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video360:

  • Renko British pound chart from the day previous to when trading, to discuss trading prices, as well as another example of ‘drift consolidation’ [Video 358] and a breakout pattern setup
    • (a) support = day session low (b) resistance = price action price – a double brick breakout to lower lows does not establish the price but when there is a retrace after the session break that rejects as resistance and then there is a price momentum divergence, there is price action to make this resistance
  • British pound breakout setup (a) left side sell breakout and small retrace (b) price drifts lower but without momentum, as seen by mex ‘braiding’ across the middle of the range (c) new low double bottom and trendline breakout with mex gives a breakout buy
  • Discussion of 2 price extreme reverse trades and whether there is a price swing resumption and/or trade hold
    • (a) support reject-price extreme reverse buy breaks support by 1 brick but with rising mex and fast momentum – hold the trade with only 3 bricks against it (b) price extreme reverse sell-price swing resumption with mex flow-fast momentum hook but the buy is filtered for resistance 2 bricks higher – hold the trade with only 3 bricks against it
  • One more Renko price extreme reverse is filtered and a trailing short [the trade has 2 partials] is held and ends up giving an additional 4 bricks of profit when a non-filtered price envelope reverse sell occurs

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video359:

  • The previous Renko oil futures trading video ended up short after a resistance reject-price envelope reverse with partial1 – I continued trading from this point with the same resistance and support prices since we were inside of that range
  • After partial1 and 1 more red brick, we were trailing for a price extreme reverse that did occur BUT that was followed by price swing resumption – was that also a reverse from long to back short?
    • Price swing resumption = midline reject with mex flow-fast momentum hook and 5 bricks of room to support, let alone the 3 bricks needed not to filter the trade – yes, trading went from long to short and with the short becoming profitable, the price extreme reverse was only a 2 brick loser X the resumption trade gains
  • Support brick break reject and price extreme reverse that occurred above support, so it was a price extreme reverse buy that was followed by a price envelope reverse addon – price went up and reverse before mex went extreme, what did we learn?
  • Discussion of price action inside of the initial resistance and support range and how we got a relevant inside price (a) previous swing low breakout (b) retest-reject and move to lower lows (c) the trading buy swing just discussed above actually rejected at the same price – giving price action for a shift line from support to resistance and the inside price

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video358:

  • Renko oil futures trading prices are based on the highs-lows after the session break and the previous day (a) support is the low price after the session break, which is lower than the previous day’s low (b) BUT resistance isn’t the high price after the session break, because that is a brick test of the previous day’s high and that is resistance
  • Discussion of a price ‘drift’ down, an area that looks like it has some slope but when you look at mex you can see that it is braiding back and forth in the middle of its range
    • Think of this as consolidation and do not trade price envelope reverses only, especially in the down trendline that ‘defines’ the high of the drift
  • Discussion of a trendline as support or resistance and trading the trendline breakout as a failure breakout, since it is through the 2 points on the trendline like a triple breakout, similarly to a horizontal price triple breakout
    • This is again discussed when a price envelope reverse sell is done after 5 price envelope reverses – what we are really seeing is price compression into a triangle pattern and the trade that is done is a triangle breakout -vs- a price envelope reverse
  • Renko trade management for a price envelope reverse sell after a price envelope reverse buy that is a filtered trade – the sell was held since there were only 3 bricks against the trade and 1 more brick would be a double top
    • Note – the compression triangle breakout trade [sell] was actually an addon to the held price envelope reverse sell

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video357:

  • The Renko British pound trading prices are clear as a low from the previous day as (a) resistance [also note the lower high reject confirming this price] and (b) the low after the session break as support
  • BUT this also gives a tight range that price consolidates inside of, where price envelope reverse don’t have room to be traded – after a filtered price envelope reverse buy goes to resistance, what would a continuation trade be?
    • (a) resistance triple top breakout after a higher low-midline reject with mex flow, as a price and consolidation failure breakout (b) resistance break2 with mex flow-fast momentum hook as a price failure break, which would also be a consolidation failure breakout
  • Neither of the setups described above occurred, so there are no Renko British pound trades, but what about trades from another chart – for instance, the Renko oil chart?
    • The immediate oil trading price would be a support price that comes from the shift of the initial double top after the session break, but a price envelope reverse sell would be filtered by this price
    • When we draw trendlines we see that there is a bear flag channel that synchs with support – selling the channel breakout makes the trade at price a price failure breakout and this was my first trade of the morning
  • 2 Renko trading method discussions (a) price extreme reverse-price swing resumption, where there is mex direction but not mex flow (b) midline reject with mex flow-fast momentum hook, with a previous diagonal that has partial room to resistance, as a trade setups for a second addon

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video356:

  • The beginning Renko trading prices for the British pound are price action prices from trading after the session break (a) resistance comes from a previous triple break-midline reject with mex flow-fast momentum hook that was also a consolidation area breakout (b) support comes from a double bottom low
    • AND note the momentum-price action and how the double low was made with mex rising from the first low and how there was never a cross with a price envelope reverse that made the double low
  • Trade1 = price envelope reverse buy after the double low BUT also note that it is a trendline breakout with mex flow + trade2 addon = price envelope reverse-swing resumption to a price envelope reverse on a green brick – this resumption was with mex flow-fast momentum hook
    • The further importance of this trendline after the double hold is the wedge pattern breakout BUT also how it was diagonal resistance to a previous price envelope reverse filtering that trade
  • Price envelope reverse as a management tool + trading tool and reversing into the next trade -vs- going flat – trade3 = price envelope reverse sell doesn’t partial and then trade4 = price envelope reverse buy gives a 1 brick loss and +4 +8 double partials -vs- going flat only and having the loss
  • Renko trade4 = price envelope reverse sell after a filtered price extreme reverse sell – the trade does give a +4 +8 double partial but it is after 4 bricks of giveback -vs- a price extreme reverse that only has 2 bricks of giveback and would have also been a winning trade
    • Again showing a trade setup that is beneficial both a management tool + trading tool

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video355:

  • Right after the session break, Renko British pound trading has a resistance and support price (a) resistance = previous day high adjusted for a full break at a triple break right above (b) support = initial high from previous day double breakout to higher high
    • BUT when start trading we have a new resistance price [price area] from higher highs after the session break and the other 2 prices become support1 and support2
  • Note trading price discussion about a price breakout to higher high by a couple bricks creates a resistance area -vs- new single resistance price – later compared to a later breakout of support keeping the support price but not a support area
    • Trade1 = price envelope reverse + resistance and midline reject with mex flow-fast momentum hook addon – confirming the resistance price relevance
  • Trade swing1 = +4 +8 +12 exit on strength and +4 +8 +8 price extreme reverse – the profits and size for our bigger swings is a method strength and in this case, see how this ‘covers’ multiple trade losses with not partial and trading remains net profitable
  • 2 method discussions involved with this trading period (1) multiple price and/or midline rejects and whether they can be done as addbacks to a trade after a partial (2) management for a number of win-loss pairs and how the pair of 2 had a profit when the loss had not partial

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video354:

  • Renko British pound trading prices for when beginning trading (a) clear resistance that is the high price from the previous day and is higher than the high since the session break – where do support and the inside price come from?
    • Support comes from the end of the previous day where there is a closing double hold that is then confirmed after the session break, where the price rejects instead of a triple break
    • The inside price and first resistance is not determined until after the session break and when we can see a swing double top – if trading had begun before that point the price would not have been on the chart
  • Trade1-2 are both midline rejects with mex flow-fast momentum hook, actually, addon setup to the price envelope reverse buy that occurred before beginning trading – the trades partial and exits with a price extreme reverse sell
  • After the price extreme reverse is there a buy swing resumption since the price envelope has continued to remain ‘in-buy’?
    • Discussion of a price-pattern combination trade -vs- price failure break setup -vs- Renko indicator trade – why was this trade called a price-pattern combination?
  • Depending on when trading began after the session break and the price-pattern combination wasn’t viewed as a trade setup, you could have gone 1.5 hours+ without a trade setup BUT during the same time there were multiple profitable oil trades
    • Maybe the British pound is where you first look to trade, but also look at the other charts for what may be better trading setups AND in this case any setups at all

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video353:

  • Renko British pound trading prices for when begin trading have clear resistance and support (a) session break high from previous day-brick miss test ‘confirmation’ (b) previous day swing double bottom = higher low before the resistance test
    • BUT is there an inside price between this range that would be first resistance?
  • Price action price discussion for a relevant inside price (a) double lower high-price envelope reverse to lower low (b) price later breaks as resistance and then shifts to support (c) price then breaks as support and there is a double reject as resistance and move back to support
  • Open trading is consolidation-compression inside of the resistance1-inside price and support and a price envelope reverse buy is consolidation filtered, followed by a price envelope reverse sell that is also consolidation filtered even if it wasn’t support price filtered
    • Renko British pound trade1 for the day was a consolidation-support breakout, followed by the price-midline rejecting as resistance with mex flow-fast momentum hook – this was followed by another midline reject-fast momentum hook addon
  • The best British pound trading swing of the period was trading price related (a) support price envelope reverse-failure break with mex flow-fast momentum hook combination initial trade (b) price reject-midline reject with mex flow-fast momentum hook addon – initial trade +4 +8 +12 exit on strength with the addon trade +4 +8 + 11 price extreme reverse exit [or sell if continue trading]

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video352:

  • The British Pound has continued to move up over recent days, making Renko trading price identification a function of (a) using a previous day high or high after the session break as resistance (b) using a high before breakout to a new higher high as support
    • In the case of today’s trading, the previous day’s high that was also a double top has been resistance BUT after the session break there was a higher high that became resistance and the previous high shifted to support
  • Renko British pound trade1 had to be a continuation trade to a sell swing price envelope reverse-midline reject sell addon that I missed by 11 minutes – so my first trade was another midline reject-mex flow and fast momentum hook sell continuation trade
    • Note the management for this trade, which was actually trade setup 3 – partial1 at support and then closing the trade after a reject-mex cross, similarly to how the trade would be managed if it had been an addon
  • The early trading period was minimally profitable a partial1 winner and a 2 brick loss on the second trade [discussion of why a filtered trade was used as an exit] – did this have anything to do with the support trading price adjustment made day-over-day for a full brick?
  • Management discussion for another trade that had to be entered as an addon2 continuation trade, because the initial trade and addon1 were both price filtered
    • After the trade received partial1 there was a midline reject that had no fast momentum hook and was against a mex cross – the trade went to lower lows but mex never crossed back
    • And the trade [that would have been addon2 if not for the filtering and not even traded] was closed on a 2nd green brick and close above the midline

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video351:

  • Renko British pound trading price and whether a price that had been resistance for the last couple of days has remained resistance and if not, the adjustment to a new resistance price along with locating trading support – does the ‘old’ resistance price shift to support?
  • From the time the resistance price in question had been established it remained relevant through multiple brick miss-brick break tests that rejected, but then there were multiple bigger breaks of the price that included a daily high double top
    • Shift resistance to the daily high double top and then shift again after the next session break higher high
    • Neither of the previous resistance prices is used as support (a) there is a far more relevant support price (b) there would be 3-4 trading prices that were so close together as making the chart essentially untradeable
    • Support becomes an initial daily high that then shifts-rejects as support, followed as the low after the next session break becoming a double bottom
  • Renko British pound trade1 = lower high brick miss double top price envelope reverse, followed by a midline reject with mex flow-fast momentum hook addon
    • The 2 shorts go to a price extreme reverse buy that is followed by a price swing resumption sell but this is filtered by support so the trade is not done – hold the short at this time with only 2 bricks against the trade
  • Price extreme reverse + price envelope reverse addon that is followed by a midline reject with mex flow-fast momentum hook – discussion of this trade as a 2nd addon, along with a momentum comparison to another similar situation where the 2nd addon was not traded

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video350:

  • Reviewing Renko trading prices from the previous Renko British pound trading video at the time of the first trade – all prices have remained relevant for the whole trading day and were used as trading prices after the session break
    • Resistance and support prices were clear because we stayed within that range for the whole session – and the centerline still had price action to keep it from being adjusted to a different price
    • Additional discussion for trading price adjustment up or down for a full Renko brick
  • Potential trade1 and 2 as a price envelope reverse buy followed by a midline reject with mex flow but no hook were additionally price filtered by resistance
    • Trade1 became a price envelope reverse sell after multiple brick-miss resistance adjustments BUT was that actually a trade inside of consolidation and then how should the trade be managed after a price envelope reverse buy?
  • The initial Renko British pound sell was not inside of consolidation buy was a trendline break with mex flow and was actually followed by a trendline break2-midline reject with mex flow-fast momentum hook addon
    • The Renko price envelope reverse buy was filtered by resistance so there was no trade and since there were only 3 bricks against the trade[s] and at the lower high price holds into the sells, the trades were held
    • NOTE that if the trade[s] were exited and flat that the price envelope reverse sell swing resumption would have been a short re-entry
  • While short there were multiple potential price extreme reverses and additional addon-addback setups – were any of the price extreme reverses trade entries and/or short exits AND were there any addon-addbacks that were traded?

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video349:

  • Again looking at Renko British Pound trading price identification and comparing locating these prices to the difficulties caused by all of the index futures volatility
  • Renko chart resistance when start trading comes from a price momentum divergence high-double top after the session break – 2 prices underneath that both price action support that comes from the left side (a) support1 price action = price envelope reverse breakout after high that is rejected as resistance and goes back down – and then breaks out as resistance after multiple brick hits (b) support2 = double top breakout that holds on retest as support and then goes to a higher high
    • Note the discussion of adjusting support2 for a whole brick and why the price is adjusted down instead of up, along with the effect the adjustment has on trade entry
  • Trade1 = double top high-price envelope reverse sell, followed by a price envelope reverse hold because no stop and occurs on a green brick – the sell swing resumption is an addon setup and the trades both get double partials, with the initial trade getting a +4 +8 +12 exit on strength
  • There is some impact from the price adjustment for a whole brick, because moving the price down filters a price extreme reverse buy – but this is followed by a price failure break buy and a price reject buy [both of these trades are midline rejects with mex flow-fast momentum hooks]
    • The initial trade is a +4 +8 +12 exit on strength and the addon is a double partial, so ultimately the price adjustment has no issue and actually if the price had been adjusted up there wouldn’t have been a price failure break, so there would have been no addon

Renko Chart Day Trading Strategies For The British Pound

Renko Day Trading Video348:

  • Renko British Pound trading price identification and comparing the relative simplification of identifying the prices, when compared to the index futures and issues discussed on the previous YM Renko trading video
  • Resistance and support are ‘very’ clear as a double reject high after the session break, along with a price momentum divergence low that is also after the session break
    • The centerline is a price action price (a) previous day low after a large sell swing (b) price breaks and goes to a lower low that includes a retrace to the price that shifts it from support to resistance (c) at the end of the day this resistance price breaks and shifts back to support – and is actually support1 when I began trading
  • Renko British Pound trade discussion for a price extreme reverse buy that is followed by a price swing resumption – do you go back short or exit the buy with a 3 brick loss AND note that this is not a filtered trade because the low price has not been made yet
    • Hold the trade for the 4 Renko brick stop because of the clear price momentum divergence the 3 brick exit would be into and then after the price envelope reverse do a buy addon to the trade – under no circumstances would a swing resumption sell had been considered
  • Discussion of 3 more trades and the impact of the centerline along with no continuation that goes to test support or resistance as each trade is a winner with 1 partial but then becomes a lot of giveback and a breakeven exit on the trailing contract – and then trading is discontinued as there is a transition into consolidation

Renko Chart Trading Strategies For British Pound Day Trading

Renko Day Trading Video347:

  • Renko YM Emini dow day trading chart and price discussion and especially the difficulties with trading index futures, compared to oil or the British pound, because of the recent volatility that makes single relevant prices harder to identify – further discussing this as a reason for not trading the indexes now
    • Note that this has nothing to do with Renko charts, we would see the same type of issues with bar charts – the chart type has nothing to do with how much volatility, activity, and range that we are currently getting
  • The trading price that is used for resistance when start trading after the day session open is simple, it is the overnight high BUT the center line [which comes from the previous day] and the support line that was a double hold initial low but then broke to lower lows
    • These trading prices are not easy, especially the center line – a primary focus of this video is discussing the price action for these prices and how they show relevance as the best trading prices but they are not as clear as the typical brick break-brick miss how
    • Discussion of not adjusting trading prices every swing and if there really is not clear-better price action to adjust price AND we don’t want to continually add new prices to the chart and cause support-resistance ‘clutter’
  • Discussion of YM Renko day trade1 as a consolidation breakout setup and that the breakout price doesn’t become a trading price AND a price extreme reverse-price swing resumption that isn’t traded, with 3 bricks of room to the overnight high but into a price momentum divergence
  • We see relevance for our trading prices as a function of the next trading swing (a) resistance test price momentum divergence-price envelope reverse sell (b) down move through the centerline to a price extreme reverse that is filtered and holds-resumes the open sell (c) continuation to a brick test of the support price and a price extreme reverse

Renko Chart Trading Strategies For YM Emini Dow Day Trading

Renko Day Trading Video346:

  • Renko chart YM emini dow day trading, discussing issues with trading the indexes amidst recent volatility and wide ranges – find too many horizontal breakouts that run to price extreme reverses that resume to additional price extreme reverses BUT without a swing resumption re-entry because momentum goes so extreme
  • That being said, I have done YM and RTY index Renko day trading [haven’t been trading the NQ] and this day the trade I started with was completely related to the price components to the trade setup while going flat a congesting British pound chart
    • Renko YM trading prices often come from overnight trading and price action, another function of the recent trading activity and movement [volatility], but these were clear prices from the previous day (a) resistance = previous day low before breaking out to a lower low (c) support = previous day lower low-double hold reverse
    • You will note how these prices the rest of the trading day and through the overnight, until there was a support breakout to lower lows and support shifted to resistance BUT when I started trading this price had broken and shifted back to support again
  • Renko YM day trade setup (a) resistance price reject (b) price envelope reverse back to support with some straddling (c) trendline addition shows a ‘textbook’ wedge pattern across resistance and support – buy the price envelope reverse above price, wedge breakout
    • This trade was followed by a midline reject with mex flow-fast momentum hook and trade1 was a +4 +8 +12 exit on strength, with the trade2 addon a +4 +8 +8 price extreme reverse gain, as price trade from support to resistance through the down trendline
  • Discussion of Renko brick size for the index because of recent volatility – the chart-trades discussed were from actually a 6 Renko chart

Renko Chart Trading Strategies For YM Emini Dow Day Trading

Renko Day Trading Video345:

  • Renko trading prices from the left side before session break (a) resistance = previous day high (b) support = previous day initial high and not the price action for how this price breaks as resistance and then shifts-rejects as support
    • But before trading begins there is a higher high after the session break, which becomes resistance AND the original resistance becomes support1, with the original support becoming support2 if there is a sell-off
  • Renko trade1 really isn’t a good trade setup – it was a price envelope reverse sell that was only traded because there were 3 bricks of room to support BUT the better chart read was for consolidation and this trade should have been avoided
  • There were multiple price envelope reverses and some midline rejects with mex flow-fast momentum hook BUT these were all filtered for consolidation and/or price
    • The next Renko trade was a price envelope reverse but was it inside consolidation also (a) high brick break reject (b) trendline break with 4 bricks of room to support (c) price envelope reverse entry
    • No, this was not a trade inside of consolidation and continued to-through support and a price extreme reverse that was filtered for the shift of support to resistance, which was followed by a sell swing resumption price-midline reject with mex flow-fast momentum hook addon
  • The best Renko trading swing of the session = price envelope reverse buy that was actually only 3 bricks from resistance but also through a previous swing diagonal back to the high of the session, which was followed by the resistance break-reject with mex flow-fast momentum hook addon
    • The initial trade was a +4 +8 +12 Renko brick exit on strength gain, with the addon being a +4 +8 + 11 price extreme reverse gain – and in this case, the reverse did partial reducing giveback and another profit

Renko Chart Trading Strategies For British Pound Day Trading

Renko Day Trading Video344:

  • A primary focus for this Renko British Pound trading video is trading prices and difficulties on a breakout to (a) higher highs for all recent trading since the roll from the march to June contract (b) higher highs not seen on the June chart when going back as far as 2/27
  • Renko trading prices when beginning trading are all prices that have been previously seen on the chart (a) support = previous day low (b) resistance1-2 = price action price and price high from 2 days previous – these are prices discussed on the previous video as a resistance area (c) center area price is also a previous price action price and a double bottom low from 2 days previous
  • Trade1 = center area related trade BUT this is not a horizontal breakout (a) price reject as support (b) price envelope reverse (c) trendline breakout – you can see the triangle breakout trade -vs- horizontal breakout only that wouldn’t be traded
  • Discussion of price adjustment and related trades for resistance location for the left side resistance area -vs- the current day high
    • This became especially important after 2 consecutive losing trades around the lower resistance price, followed by a price envelope reverse that was filtered by the current day high
    • However, using the upper resistance price the trade was not filtered and became a +4 +8 double partial + 9 price extreme reverse gain

Renko Day Trading Video343:

  • Renko chart British pound day trading beginning trading prices (a) resistance = a price we know from a previous trading day [and the previous video] that was the price action price where resistance broke out to higher highs and shifted to support, before breaking again (b) resistance2 = the higher high double top and actually turns resistance1-resistance2 into a resistance area (c) support = previous day low-double bottom
    • These are ‘basic’ Renko trading prices, but with a possible issue of retaining resistance1-resistance2 both on the chart as an area – do note the later reject [price action] of resistance1 and how it never shifted to support after the breakout
  • Renko day trade1-2 = price envelope reverse-midline reject with mex flow and fast momentum hook – be sure to note the brick count regarding a price extreme reverse is not consecutive bricks BUT consecutive bricks after the price envelope reverse or last trade setup [regardless of whether the setup is tradeable]
  • Renko day trade3-4 = price envelope reverse, after the resistance1 breakout and break right back below instead of shifting to support – again, what continues to show price action relevance of this trading price after breaking 2 bricks higher
    • Both trades did partial but didn’t continue down and retraced back to resistance – discussion of trade management and keeping these trades from becoming losing trades after getting the partial
  • Renko day trade5-6 = resistance1 reject-price envelope reverse-wedge breakout + midline reject with mex flow and fast momentum hook – after a double partial there was a price extreme reverse that was 5 bricks after the trade setup -vs- the 5th consecutive brick after the midline reject

Renko Chart Trading Strategies For British Pound Day Trading

Renko Day Trading Video342:

  • Renko chart British pound day trading prices – Renko prices from previous day[s] AND prices that should already be on the trading chart -vs- prices from trading after session break
    • (a) Resistance = 2 days previous high-double top high after previous day session break (b) support1 = 2 days previous initial high and then note the price action relevance during the previous day (c) support2 = previous day low
    • Note how adjusting the price for the current day full brick high-low has no effect on trading
  • Trade1 = (a) double top high (b) price envelope reverse (c) trendline breakout sell – although this may look like a consolidation breakout from momentum, the full group of setup components shows a different trade
  • There is no addon and the trade1 trail has a price extreme reverse buy, but it is filtered by price and then followed by midline reject – is there also the mex flow and fast momentum hook that is needed to now do an addon?
    • Note the reject of support1 as resistance and the continued multiple days that this price has remained relevant for trading
  • Double bottom price envelope reverse buy and a transition into consolidation, but any price envelope reverse sell is filtered by price as well as the consolidation and can be held with 2-3 Renko bricks against the trade
    • The trade is held instead of going flat inside of consolidation, with nothing else to do and never stopped out – and is followed by a continued consolidation support hold and an eventual breakout that gains a double partial

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video341:

  • Renko chart oil futures day trading starting with Renko trading prices that were on the chart from the previous day, discussing their relevance and then adjustments for full bricks on the current trading day
    • We will see that unlike the previous day, the Renko brick price adjustment didn’t make a net difference to trading profits, which is the more typical case
  • Renko trading prices from the previous day and already on the chart OR from trading after the session break (a) support = previous day low and further seen as support and resistance price action – but support when began trading (b) resistance = previous day swing double top that later broke out in both directions – but resistance when began trading
  • Renko oil trade1 = price envelope reverse after support break-wedge breakout sell – trade2 = price envelope reverse after the break of support shifting to resistance
  • Discussion of trade setups for doing additional addon setups – in this case, there was a resistance price reject-price extreme reverse initial trade + price envelope reverse addon
    • After the initial trade and addon trade, there was a midline reject with mex flow and a fast momentum hook, making a very good second addon setup based on (a) price was the same entry as addon1 (b) mex flow was still above the center range and had a lot of room to the lower extreme (c) the previous swing diagonal for continuation and price ease of movement had double partial room before hitting support

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video340:

  • Renko chart oil futures day trading and opening resistance as a left-right price action price (a) during the previous trading day the daily low broke to a lower low (b) support now shifts to resistance and there is a double reject and a move back down to lower lows (c) at the end of the day the same price again rejects as resistance
    • Opening support is the low after the session break, which is actually a higher low from the previous day before a move back to resistance
  • Discussion of adjusting a left-right price to a full brick high-low in the current trading day – I especially brought this up during this trading day because it had a ‘big’ effect on Renko trading profits — NOTE that this is not typically the case
    • The issue is whether the trading line should have been moved up or down AND I see the case for both of these and how traders may differ
    • I moved my price up because the left side resistance reject was still a higher price – however, there was also a case for moving the price down to a lower high-double top after the session break
  • My trading price avoided a price extreme reverse losing sell and an addon losing sell that the lower price location had as losses, however, the lower price had a resumption addon and then avoided a price extreme reverse losing buy
    • It was this trading swing and filtered reverse that outgained the 2 losing trades [full loss without partials] that I avoided – note the importance of add-ons to our trading method for bigger moves and the +4 +8 +12 exit on strength that was missed by having a filtered addon
    • Again NOTE that although there was a big profit difference from moving a trading price up or down 1-2 ticks when adjusting for the full brick, this isn’t typical and/or will certainly even itself out for a greater quantity of trades

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video339:

  • Renko chart trading prices types (a) left-right price – a price that would already be on your chart because of previous significance (b) right side price – a price that becomes significant from current trading (c) price action price – a price doesn’t remain an extreme like a high or low and actually becomes a center area price BUT because of constant price action at this price, it retains its relevance as a trading price
  • Renko British pound day trading prices (a) resistance = right side [since session break] double top high (b) support = left-right swing double bottom (c) resistance1 when taking trade1 is a left-right price action price – it was a daily high from 2 days ago but remained relevant because of the price action that continued at this price
  • Trade2 = price envelope reverse sell followed by a midline reject but no fast momentum hook, so no addon – trade3 = support reject-price extreme reverse + price envelope reverse
    • Understand the trailing exit of the addon but hold of the initial trade AND then the re-entry of the addon – both add-ons got 1 partial, while the initial trade hold gained a +4 +8 +12 exit on strength
  • After going flat there is a price envelope reverse and a midline reject with mex flow-fast momentum hook, but both of these were price filtered trade entries – price moves to support and rejects AND transitions into consolidation and trading was discontinued

Renko Day Trading Video338:

  • Renko chart British pound trading prices to begin trading (a) resistance = Renko brick double top after session break, with further significance because this price is higher than the previous day’s high (b) Renko brick double bottom low after session break, with further significance because this low was already a swing double bottom from the previous trading day
  • Renko British pound first potential trade setups (a) price envelope reverse against mex (b) midline reject without mex flow or a fast momentum hook and price filtered by resistance (c) price envelope reverse with mex direction and no price filter
    • Renko trade setup (c) became the first trade as this with the only setup that had all method components
  • Renko trade2-3 (a) price extreme reverse out of the trade1 sell (b) price envelope reverse addon, with trade2 +4 +8 +12 exit on strength and trade3 a +4 +8 double partial and a price failure-midline reject [mex flow-fast momentum hook]
    • The trade4 reverse was a losing trade and followed by a filtered price envelope reverse that couldn’t be traded – the next brick above price had room to resistance to enter there, should this trade be taken a brick late?
  • Price extreme reverse after a higher high, but if the resistance price is relocated to the new high this trade would be filtered for this price as support – should this price be relocated?
    • After the price extreme reverse, there is a price envelope reverse and a midline reject with mex flow and a fast momentum hook – these 2 trades would be taken if no price extreme reverse and gained a +4 +8 +12 exit, with a +4 +8 extreme reverse on the addon
    • NOTE the price extreme reverse was followed by a midline reject swing resumption [untradeable] – should this be a 3 brick exit OR a price momentum divergence hold?

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video337:

  • Renko chart British pound futures day trading video, beginning with Renko trading price identification (a) support = previous day’s high after breaking out higher after the session break (b) resistance = session break high – note why this price wasn’t already on the chart
  • Discussion of 4 potential midline reject trades and which one[s] could be traded (a) midline reject with mex flow-no fast momentum hook (b) midline reject with mex flow-fast momentum hook (c) midline reject with no mex flow (d) price high-midline reject with no mex flow-no fast momentum hook
    • Further discussion of basic Renko method indicator trades -vs- price failure break and/or price failure breakout trades that may be traded without all indicator components
  • Renko trade1 = price extreme reverse that was held for a price momentum divergence instead of taking a 3 brick exit – the trade held and did partial – but the price did hold previous resistance as support and there was a sideways move with a higher low-lower high
  • Discussion of trading into a range and discontinuing trading – I took one more trade and if it did not profit I would have stopped trading until we had a range breakout and more trading room — the trade did break through support and gained a double partial, along with a midline reject [all indicator components] addon that gained partial1

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video336:

  • Renko chart British pound futures beginning trading prices from when start trading (a) resistance = previous day high (b) support = previous day initial high [shifts to support after higher high]
    • Especially note the price action [relevance] of these prices before trading, where there is a brick break test-reject of resistance and a brick miss-test of support – this also makes you continue to watch for range compression after the lower high and higher low
  • Renko day trade1 = price envelope reverse sell – why isn’t Renko trade2 a price envelope reverse buy with 4 bricks of room to resistance – after drawing in a trendline we see that there is diagonal resistance 1 brick higher than the Renko buy entry would be and this filters the trade — the initial trade was stopped out but this avoided a 2nd losing trade
  • Another brick miss test of a Renko trading price followed by a price envelope reverse sell = Renko day trade3 and then trade4 = midline reject with mex flow-fast momentum hook – yes, there is that continued concern of range compression and not being able to continue to trade BUT these trades are also into a range triple bottom breakout
    • The triple bottom does break out and there is enough room to the next support price if tested [low price after session break] to give a +4 +8 +12 exit on strength, with an addon double partial and trail – again, the key to this trade was the contained range break out setup that was traded into that had me continue to still try to trade
  • +4 +8 +12 profit exit on the initial sell +4 +8 + 19 price extreme reverse on the addon – a price extreme reverse buy was done and it was followed by a midline reject — is this a price swing resumption and a reverse back to short?
    • (a) the resumption was clearly into a price momentum divergence (b) the resumption was against mex which had crossed from its maximum extreme – hold the trade for the 3 brick PMD, which held and became a double partial trade

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video335:

  • Renko chart British pound futures day trading – price identification when begin trading for the range around the last price (a) double bottom low after the session support (b) previous day session break double top reject that becomes a ‘center line’ and shifts to support BUT breaks out and becomes first trade resistance
    • NOTE the price action shift that takes this price from support to resistance (a) price [support] breakout (b) price and midline retest [shift] reject with mex flow and a fast momentum hook – this would definitely be a short if trading and gives the trading resistance price as this reject then moved down to support
  • Discussion of British pound trading ranges and how we continually must be aware of the room inside of a range and then possible compression-consolidation inside that range, where trading really can’t be continued without a range breakout – this became a further issue when support2 was identified
  • Renko British pound Renko trade1 = support double bottom reject-price envelope reverse – partial1 and trade2 = a price extreme reverse short, followed by trade3 = price envelope reverse addon – this series of trades still retained enough room inside of range not to be filtered, with the addon actually having 4 bricks of room back to support
  • After the support breakout and price move to support2, the shorts got a +4 +8 +12 exit with a +4 +8 partial2 on the addon, followed by a price extreme reverse buy BUT now we are inside of a new range where there is no room to trade a price envelope reverse addon
    • NOTE the discussion of the price extreme reverse sell-price swing resumption hold for a price momentum divergence -vs- a swing resumption buy reverse – although this trade did get stopped out regardless of having the PMD [although a resumption loss was avoided], using momentum in this was is consistent with our method

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video334:

  • Renko chart oil futures day trading

Renko Day Trading Video333:

  • Renko chart British pound futures day trading

Renko Day Trading Video332:

  • Renko chart British pound futures day trading, again beginning about an hour earlier than normal start time to see how trading was at this time – the preceding price action was consolidation underneath a double top, at the high price since the session break
  • The Renko chart trading prices were (a) this double top high as resistance since my first potential trade was a buy setup under this price (b) resistance2 was a new high after I started trading and after a price envelope reverse showed that this was not simply a high price in a buy swing (c) the support price wasn’t an issue because of resistance shifting to support, but if we had gone down first the previous day’s high synched with the initial high after the session break, would have been support
  • The first potential Renko British pound buy was a midline reject with mex flow-fast momentum hook, but it was also right below the consolidation high-price high and no trade was done – trade1 was then a 2nd midline reject with mex flow-fast momentum hook and a price break2 failure break, which went to a partial and a price extreme reverse
  • Renko British pound trading was profitable during this time, although it was necessary to continue to watch that we didn’t consolidate-compress inside what was a relatively tight range of our trading prices – the best trading of the period was a series of multiple winning trades
    • (a) Triangle break buy followed by a midline reject with mex flow-fast momentum hook addon – both of these trades got 2 partials each and a price extreme reverse winner that minimized profit giveback
    • (b) Midline reject addon with mex flow-fast momentum hook with 2 partials and another price extreme reverse winner that again minimized profit giveback
    • (c) Price extreme reverse with 2 partial profits
    • (d) Midline reject with mex flow-fast momentum hook and that was a price failure break-break2 addon – this trade partialled and this was the end of the video

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video331:

  • Renko chart British pound futures day trading – NOTE that this is a futures contract and not forex that I am trading
    • I have traded this from time to time and it came up recently on a question about currencies as another non-index alternative to gold and oil, along with the potential of trading earlier in the morning
    • AND trading forex – there is a forex pair GBPUSD if anyone is interested, however, cannot say that I have ever traded this or forex for that matter
  • Of the currencies available, I have liked the British pound the best for Renko trading – feeling that it has plenty of trading activity-volume but not too much like I have felt about the Euro currencies
    • This is similar to typically liking the emini russell better than the emini nq and all the extra reverses that have led to trading a 4 brick chart instead of a 3 brick and I would probably do the same with the euro if I was trading it – most importantly for anything that you would consider trading is price continuation and average swing length -vs- spending a large percentage of the time in ranges and/or consolidation
  • The Renko British pound trade1 is a very good example of a combination price and pattern breakout trade setup (a) after a price extreme reverse there was a straddling of previous support (b) there was a pattern that developed showing a double top and rising lows ‘around’ price (c) buy a price reject as support-triple top breakout – the swing included a midline reject with mex flow and a fast momentum hook and was a was a trade with multiple partial profits
  • There were 2 more ‘pairs’ of trades that were both a combination reverse-swing resumption (a) trade3 price envelope reverse buy-trade4 reverse sell that was a price-midline reject with mex flow-fast momentum hook that partialled (b) trade5 price extreme reverse buy-trade6 midline reject with mex flow-fast momentum hook swing resumption – lost 2 Renko bricks on the buy and gained +4 +8 and trailing at +11 on the reverse

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video330:

  • Renko oil futures day trading and issues with 3 potential 1st trade setups (a) price envelope reverse sell but against mex direction – also note why this isn’t a midline reject-price envelope reverse combination (b) multiple midline reject sells after the price envelope reverse, but they are all filtered, including they have no mex flow or fast momentum hooks (c) price envelope reverse buy, but it’s a consolidation breakout
  • The initial Renko trading prices come from a swing double top and a swing double bottom – NOTE that neither of these are a daily low or daily high price, so although they do have relevance as trading prices for our method, they would also be adjusted going to the right (a) if they did not show price action at the prices (b) if there were price moves to higher high double tops or lower low double bottoms
    • For instance, note the price action for the double bottom low that was our beginning trading support (a) double bottom breaks as support (b) the price shifts to resistance and there is a retest-reject (c) followed by a swing down that went to daily lower lows – we never going back to this price until after the session break, when it breaks out as resistance and thus shifts back to a support price
  • Trading price adjustments can end up causing a winning trade setup to be filtered BUT it is still important to trade the most relevant prices (a) the swing double bottom support price breaks to a session low-double bottom low – support should be shifted now to this price OR trade both prices as a support area
  • I bought a midline reject with a mex cross back -vs- mex flow BUT was that really the trade setup (a) inside price double top (b) right side ‘double’ midline reject with a fast momentum higher low (c) buy the right side triple break and left-right triple top breakout – the trade is a pattern breakout -vs- a midline reject indicator setup

Renko Oil Futures Chart Day Trading Strategies

Renko Day Trading Video329:

  • Renko gold futures day trading prices for the current range when start trading (a) resistance = low double bottom breakout as the support price and then shift to resistance when start trading (b) support = session lower low
  • Discussion of the Renko oil chart and Renko gold chart when started trading (a) oil consolidation breakout to a price envelope reverse that is filtered (b) gold support double bottom reject with 2 midline rejects with mex flow hooks
  • Discussion of consolidation and how it is typically viewed as a sideways horizontal move BUT there also can be consolidation as a ‘drift’ up or down that looks to have some slope – consider (a) random price envelope reverses that go to higher lows or low highs with lagging momentum (b) continuous price envelope reverses back and forth right after the prior reverse and without any previous continuation – like a midline reject with mex flow and a fast momentum hook that makes a swing higher high or lower low
    • NOTE how the drift up left an up trendline that became ‘diagonal’ support and filtered a losing trade – no trading was done inside the drift and not until there was a failure break of the trendline = resistance reject-price envelope reverse, followed by the trendline break2 with mex flow and a fast momentum hook
    • This Renko sell then went to support and was followed by a price failure break – price break2-left side double bottom triple break addon AND this time there was swing continuation through the support failure and a +4 +8 +12 exit on strength
  • The next trade was then a price extreme reverse buy followed by a price envelope reverse addon BUT a retrace stopped out the addon, while the initial trade was held with mex flow direction and only 1 brick against the trade
    • Discussion of the swing resumption after the addon was stopped out, with an addon re-entry – this time there was swing continuation and a ‘big’ move back through the previous swing diagonal, giving another +4 +8 +12 exit on strength trade

Renko Gold Futures Chart Day Trading Strategies

Renko Day Trading Video328:

  • Renko emini dow futures open day trading, beginning with a discussion of recent volatility and the problems with index day trading that have been caused – not because we trade a Renko method, which is just another way to form tick data, but because of the quantity and speed with which the charts are reversing AND seeing multiple bricks completing together
  • Additional problems from the volatility and frequent chart reverses and price envelope swings are determining price relevance and our Renko trading prices – I am especially focusing on price action that ‘shows’ that a price would be relevant AND also points that are leading to breakouts
    • Renko trading prices = (a) previous swing down and then retrace into triangle, followed by a breakout through the bottom of triangle – the retrace high point is resistance (b) original overnight high is hit as a double top-double reject – this is next resistance and what we would think of as a ‘typical’ trading price (c) double price hold and reverse up to the resistance price [discussed in point (a)] – this price is support
  • Renko emini down open trade1 = resistance double top reject-price envelope reverse sell + trade2 = midline reject with mex flow and a fast momentum hook BUT made mention that my chart might look a lot different than yours
    • Discussion of using a 6 Renko brick trading chart trying to ‘slow down’ the chart because of the recent volatility – there is nothing ‘magic’ about this brick size, I just doubled the normal size
    • Example of a trade entry using ‘trade lines’ that are set up to enter as a stop limit – after a mex extreme cross and full brick close above the midline a trading line is placed where the next brick would complete, anticipating a price envelope reverse
  • The Renko 6 brick can cause some partials to be missed that were otherwise had – there were a couple of trades that missed a partial by only going 3 bricks BUT the biggest trade of the period was a +4 +8 +12 price extreme reverse AND these profits are 6 bricks instead of 3, and the trades that missed the partial ended with only 1-2 brick losses

Renko Emini Dow Futures Chart Day Trading Strategies

Renko Day Trading Video327:

  • Renko oil futures day trading and price identification begins with Renko prices from multiple days previous to when starting to trade (a) daily low breakout to lower low AND holds-rejects multiple times as resistance (b) new lower low-daily low ends up becoming a ‘center area’ price as both support and resistance BUT with multiple rejects in both directions, the price shows clear price action relevance
  • At the time trading begins, the 2 prices discussed above are both resistance prices and support comes from the previous day and is seen as a double reject lower high breakout to lower low – this lower high-lower low combination is resistance when we are below the price, but it broke as resistance and shifted to support
  • Renko oil day trade1 is a resistance reject-price envelope reverse sell, which is followed by Renko oil trade2 = midline reject with a fast momentum hook addon AND this is followed by a ‘double’ midline reject
    • Does this Renko addon continuation trade setup have the selective setup components to do a 2nd addon (a) 3 Renko brick midline reject following a 4 brick midline reject, giving a lower high into the trade (b) ‘double’ midline reject giving a triple break trade entry (c) mex flow that is not at all extreme, with a lower high fast momentum hook (d) previous swing diagonal breakout potential for continuation
  • Renko price movement has taken oil to a higher high that is above the opening resistance price and takes us to the 2nd resistance price previously discussed and there is a related Renko trade = (a) resistance double reject (b) slow momentum extreme-fast momentum lower high (c) price envelope reverse sell + midline reject with mex flow and fast momentum hook at the same entry price (d) previous swing momentum diagonal breakout potential
    • I am mentioning this setup in detail because of the trade breakout and price ease of movement to the bottom of the diagonal – IF [for instance] you were a 2 or 3 contract trader depending on the setup components, then this would be a 3 contract trade

Renko Oil Futures Chart Day Trading Strategies

Renko Day Trading Video326:

  • Renko chart emini russell trading, continuing from the previous video that ended with a price extreme reverse – 2 beginning focus for this Renko video (a) can the price extreme reverse actually be traded or is it possibly filtered (b) review of the ‘double’ midline reject that was used for a 2nd addon, discussing the ‘special’ components for this setup and a comparison to 2 other setups in the context of doing a 2nd addon
  • Is there a left side Renko trading price that filters the price extreme reverse sell – moving back to the left we find 2 prices (a) an overnight double reject lower high that leads to the overnight lower low (b) the previous day’s high price (c) the previous overnight’s high price
    • When the price action and trading price is reviewed, we see that there is a resistance price at the previous overnight high and that the other hits of this price are tests that reject AND since this is also the swing high before the price extreme reverse that trade was done as a short
  • Discussion of 2 trade setups and whether they were also used for an additional addon trade (a) price extreme reverse-price envelope reverse followed by a midline reject with mex flow and fast momentum hook – with this setup’s momentum and room to support through the previous swing diagonal, I can do this as another addon BUT it is not as selective as the ‘double’ midline reject (b) ‘double’ midline reject where the first reject does not have a fast momentum hook and the entry would be 2 bricks from resistance
    • There is nothing about this as a trade setup that compares to the trade discussed in the video, with the exception of the ‘double’ pattern
  • Discussion of a price envelope reverse that is not price filtered BUT wasn’t done as a trade – WHY – because of a chart read for a transition [compression] into consolidation after a lower high missed resistance and a higher low missed support

Renko Chart Emini Russell Future Day Trading

Renko Day Trading Video325:

  • Renko chart emini russell open day trading and whether the Renko trading prices from the previous chart are still the relevant prices for the open trading (a) consider this price action – previous overnight high breaks out and shifts to support AND holds across the day, back as resistance after a breakout as support (b) previous swing double bottom has a current overnight double bottom reject
  • Renko open trade is a midline reject with mex flow and a fast momentum hook – this is compared to another midline rejects that weren’t trade, because the fast momentum hook lagged price AND mex was flat and at the max extreme — although this trade would have worked, there was no trade setup and must be viewed as such, including a further discussion of win:loss -vs- win size:loss size
  • Additional midline reject trade setups discussed and compared to the previous addon setup that was not done – clearly these were both ‘full’ trade [addon] setups, regardless that one of these actually was a losing trade, although the 2nd one was a Renko addon +4 +8 +12 profit exit on strength — the primary point is the trade setup and the potential from building momentum
  • Discussion of Renko ‘double’ midline reject setup and a trade setup that could be a 2nd addon (a) the trade is a combination of a 4 brick then 3 brick midline reject, making the 2nd midline reject have a higher low or lower high into the trade entry for both price and fast momentum (2) the 2 midline rejects leave a triple break entry (3) mex flow below the extreme line (4) partial room to recent swing high and especially to Renko price resistance

Renko Chart Emini Russell Future Day Trading

Renko Day Trading Video324:

  • Renko chart emini russell open day trading and price identification (a) previous day initial high and shift to support to higher high – discussion of price action and relevance across chart (b) previous day’s high and close as a double top (c) overnight session initial low – discussion of price breakout as support and shift to resistance, including 3 rejects into opening trading
  • Renko chart opening day trade1 and trading on 2nd open brick – although I am hesitant to trade this close to the open, consider the full setup (a) resistance double top and PMD high reject (b) price envelope reverse (c) into previous swing diagonal that is 6 Renko bricks — with these additional setup components -vs- an opening price envelope reverse only, I went ahead and did the trade
  • Renko opening day trade2-3 [would have been trade1 if not for the selective setup described above] (a) support double bottom (b) price extreme reverse (c) price envelope reverse addon
    • Further discussion of the giveback saved for 2 trailing contracts of 4 + 5 bricks -vs- a full loss on the price extreme reverse BUT with the potential for the price extreme reverse to be a winning trade that in this case became a +4 +8 +12 exit on strength
  • Although the Renko opening day trading provided good winning trades, we were still in a relatively tight range – discussion of watching for price to compress inside the range -vs- a breakout and range expansion AND scenarios for stopping trading if/when this would happen

Renko Chart Emini Russell Future Day Trading

Renko Day Trading Video323:

  • Renko oil futures day trading and price identification at time begin trading, with the first Renko trade setup being a buy (a) previous day low support shifts to support and breaks out to lower low BUT retraces back to this price as resistance [note the price action involved] (b) beginning resistance shifts to support, with support2 being the low before the break back to resistance
  • Renko trade1 = resistance break2 with mex flow and a fast momentum hook – note how this is both a midline reject indicator trade and a price failure break trade – Renko trade2 = price envelope reverse with room back to resistance-now as support – NOTE how this price then shifts back to resistance and filters a price extreme reverse buy and price envelope reverse buy addon that would both have been losing trades
  • After this last Renko trading price shift to resistance and hold, there is price ‘compression’ into a triangle after the price rejects giving a triangle breakout setup — further discussion for which Renko brick to enter the trade – the triangle breakout that is actually before mex crosses back [often happens] or the next brick after the mex cross
  • There is a price extreme reverse sell that consolidates above support and then a consolidation high break2 with mex flow that becomes a consolidation high price failure break and a reverse of the sell to buy – NOTE the actual trade setup as a price failure break -vs- a midline reject buy and a trade that was thus done without a fast momentum hook

Renko Oil Future Day Trading

Renko Day Trading Video322:

  • A primary focus for this Renko day trading video is market conditions and the multiple times that the chart goes into consolidation and trading is filtered for consolidation and/or price, filtering multiple trades — this was not a good trading period, but it would have been far worse with multiple losing trades if the trade filters were ignored
  • Renko oil day trading and the identification of Renko trading prices (a) previous day’s high1, which also becomes a resistance to support shift line (b) previous day’s high2
  • Although these prices were relevant at the time of the session break, they were actually adjusted for when started trading the next day (a) replace the high2 with a higher high during the ‘overnight’ (b) retain high1 as support, which showed relevance from multiple ‘overnight’ rejects (c) add a centerline price which was a consolidation double top
  • Renko oil trade1 is filtered for price and for consolidation, where 4 losing trades are avoided — begin trading after consolidation breakout that gives more trading room for a price envelope reverse, which is then followed by trade2 as an addon that is a price failure break with mex flow and a fast momentum hook

Renko Emini Russell Future Day Trading

Renko Day Trading Video321:

  • Renko emini russell open day trading, starting with a discussion of price action prices [-vs- pivot points that are swing highs and lows only] and the multiple tests and retests that turn a price-keep a price relevant across the chart
    • There will be 2 prices from a previous day that become relevant from price action and continue so for the remainder of the day, as well as for the next day’s open trading
  • Discussion of price breaks and/or breakouts and whether they are tradeable as (a) price failure breakouts (b) price failure breaks -vs- price breakouts only — remember that a failure breakout would be an entry on the breakout of a price, where a failure break would be an entry on the break2 of a price
  • Consider this as a potential Renko day trade and what the setup would be (a) the previous swing goes to maximum mex high (b) mex crosses on a price extreme reverse BUT at price [filtered] (c) midline reject with mex flow and fast momentum hook AND previous swing diagonal all the way down to chart support — is selling the midline reject as described a filtered trade or a price failure breakout?
  • Consider this as a potential Renko day trade and what the setup would be (a) midline reject at price with mex flow but no fast momentum hook – price does breakout by a Renko brick (b) retrace above the midline (c) price break2 with mex flow and fast momentum hook — is this a midline reject trade setup [no] BUT is it tradeable as a price failure break?

Renko Emini Russell Future Day Trading

Renko Day Trading Video320:

  • Renko gold day trading and price identification (a) resistance = low after session break-double bottom breakout to lower lows that includes the price action of retesting as resistance and rejecting – these shiftline [sup to res|res to sup] price action prices are significant to our method (b) the new low as a double bottom that was also already on the chart from the previous day
  • Trade1 = price-midline reject combination with mex flow and a hook, followed by a midline reject addon – further discussion of the price envelope reverse that was filtered by price and whether the next brick, which was above price, should have been the initial trade
  • Buy swing breaks the resistance price by a brick and then by 2 bricks – should this price new price high now become resistance – discussion of making the new price high resistance but also keeping the previous resistance price on the chart and trade these 2 prices as a resistance area
  • Renko sell + addon gets 1 partial profit each and then there is a price extreme reverse that is traded that is a losing trade – discussion of the benefit of the price extreme reverse for management as it saved more bricks of giveback than a price envelope reverse would have, regardless that the trade was stopped out

Renko Chart Day Trading Gold Futures

Renko Day Trading Video319:

  • Renko emini russell open trading and price identification, including the change in trading prices as there is movement across the chart that is affected by price action relevance AND the problem with leaving all prices on the chart
    • I showed 3 prices that were adjusted into 1 as the most relevant – without doing this I would have had 3 prices that were only 3-4 bricks apart and essentially not been able to trade
  • Discussion of a price resistance area -vs- price resistance single price, consider the following Renko price movement (a) left side double bottom low-support breaks out and goes to lower lows (b) price ends up reversing and moving back to this price as resistance, with multiple price breaks (c) these breaks create a daily high double top 3 bricks higher
  • BUT every time the lower resistance price breaks there is no attempt to shift to support and price quickly moves back below it — leave both prices on the chart as a resistance area, due to the price action described, and don’t trade inside of these prices
  • Discussion of chart reading for a price momentum divergence when considering trading a price extreme reverse buy-midline reject swing resumption reverse – when evaluating momentum for the reverse you can see (a) fast momentum higher low (b) slow momentum higher low and ‘extreme pinch’ -vs- mex flow — hold the price extreme reverse buy without reverse or exit, as the retrace to the pmd is made with only 3 bricks against the buy

Renko Chart Day Trading Emini Russell Futures

Renko Day Trading Video318:

  • Renko emini dow jones open trading – the identified Renko trading prices came from the overnight session, which was new all highs — especially note the price action related to these prices and how the high[s] broke out and then shifted to support, before going to new higher highs
  • Trade1 was an overnight trade and a price envelope reverse BUT it was more than that made this my first trade (a) mex extreme cross and previous high price break (b) price envelope reverse and an uptrend line breakout (c) 4 bricks [partial] room to support – although 3 bricks are needed to keep a trade from being price filtered, I like this extra room with this being the first trade after a new high reverse
  • Price transitions into consolidation and then breaks out through the consolidation low, followed by a price and midline reject with a fast momentum hook BUT mex started to ‘pinch’ instead of continuing to flow on the price-midline test – should this keep the price from being traded?
  • Discussion of random reverse at-right after the open, which kept price envelope reverses from being traded [also avoiding losing trades] – is this also a random reverse that shouldn’t be traded (a) 5 brick reverse from the low (b) mex extreme cross (c) price envelope reverse above resistance (d) previous diagonal to trade through

Renko Chart Day Trading Emini Dow Futures

Renko Day Trading Video317:

  • Renko emini dow jones open trading, starting with price identification AND especially a Renko trading price that has been on the chart from previous days – discussing a price and why it was resistance coming into the current session and the price action that continued to make it significant
    • NOTE – you will always have prices on your charts and you don’t want to delete these at the end of each trading period BUT be sure that you study their relevance and whether they should remain on the chart
  • Discussion of the potential open trades (1) price envelope reverse above resistance (2) midline and price reject with mex flow BUT neither of these was traded – the price envelope reverse was a 5 brick random reverse that occurred in 1/3 second and the midline reject didn’t have a hook and was only 2 bricks from the overnight high
  • Discussion of the 2nd set of open trades (3) price envelope reverse below support (4) midline reject-price failure break2 with mex flow at the initial reverse price – the price envelope reverse was not traded because it was a 4 brick random reverse that occurred in 2 seconds — the price failure break became the opening trade
  • Price identified through price action that wasn’t originally on the chart AND how it became a support price for holding a buy against a price envelope reverse and a sideways move that looked like a possible transaction into consolidation – the price and also a 3 brick retrace [-vs- a trade stop] always held and this became a profitable trade

Renko Chart Day Trading Emini Dow Futures

 

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