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 Video440:

  • Renko British pound long price envelope reverse + midline reject with mex flow-fast momentum hook addon AND additionally note that this is also a wedge breakout pattern entry = Renko-Pattern combination trade
    • Is there any significance in this being a combination trade – what if your initial trade size is 2-3 contracts depending on the inherent continuation [breakout potential] of the trade, then I would say that this combination would be a 3 contract trade
    • Also note that if the wedge breakout occurred without the price envelope reverse occurring but not against momentum, I would have still taken the initial trade – no it would not have been a Renko trade but it would not have been against the method and instead, a trade that was also taken
  • Price reject-price extreme reverse sell[do view that our resistance price from 2 weeks prior is still relevant] and full brick close below the midline while short
    • Discussion of anticipating [preparation] for doing a Renko price envelope reverse addon sell on the next brick by using a ‘trading line’ where that brick would close and expecting to see a red envelope dot while it was completing – have a green brick actually complete and the trade does not ‘trigger’
  • Short the price extreme reverse + price envelope addon shorts followed by a midline reject with mex flow-fast momentum hook that breaking through the wedge pattern double bottom would be a triple break with ‘a lot’ of room to next support
    • Discussion of doing 2nd Renko addons [or addbacks to already realized partial profits], based on the breakout potential continuation for the trade AND the attempt to have the biggest price moves also have the biggest trading size, which is a key component to an addon trading method
    • The trade gets a +4+8+12 exit on strength for the initial trade and double partials for each addon and addon1 was 1 brick away from also getting a +4+8+12 exit on strength
  • Discussion of a fast market during sell swing and the inability to trade a price extreme reverse as a buy entry of trade exit – where ended going flat the short and whether a price extreme reverse buy could be traded

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video439:

  • Renko British pound trading the morning of 11/15 – are the prices on the chart that actually come from 10/30 and 10/31 still relevant?
    • Note that recent trading has been to the upside and thus the prices we are looking at are resistance prices that we are now coming back to as support (a) support1 = 10/31 high and note the trading after the session break where this price breaks and then has a double reject as support (b) support2 = 10/30-10/31 double top
    • Further discussion of support2 and seeing it break as support and resistance but trading always comes back to this price and when it last breaks as resistance it continues to hold as support
  • The 11/15 Renko trading begins with the support1 break and down to the low after the session break and then the first potential trade is a price envelope reverse that is filtered and not traded – avoiding a loss without partial
    • The support1-resistance shift price holds at the brick high and again, remember that this price came from 10/31
    • Further discussion of the distance between the resistance price and the support2 price AND wanting to bring an additional price on to the chart from recent trading – the low after the session break becomes an inside price and first support for any short trade setups
    • Additionally, note how there are only 3 trading prices on my chart, which is typical – I am not trying to add a price for any-every swing high-low that occurs but continue to look for the outside extreme prices and prices that remain relevant across the chart from price action
  • Renko trade1-2 = price reject-price envelope reverse + price envelope resumption addon – the initial trade was held with only a 3 brick retrace and mex continuing to flow down
    • Pattern discussion for addon2, which is a lower high midline reject-triple break BUT without a fast momentum hook – making this a pattern trade entry -vs- a Renko trade setup [technically] as an additional method trade but not a trade against the method
  • Renko trade1-2 partial and with a price close above price and after a price extreme reverse I went flat – discussion of the price envelope reverse not being traded based on chart speed -vs- price filter
    • Price swing resumption after going flat is filtered for mex and not traded [avoiding a losing trade] followed by a wedge break-price envelope reverse buy + midline reject with mex flow and a fast momentum hook = a combination Renko + pattern breakout trade

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video438:

  • Renko British pound trading continued from the previous video, short a price envelope reverse that breaks through support and goes to a price extreme reverse buy
    • The short trade is held because the reverse is filtered for (a) previous support is now only 2 bricks higher as resistance (b) momentum – only the blue mex line has broken through the lower extreme
  • Management discussion and taking a partial2 that is less than 4 more bricks = partial size -vs- reducing giveback
    • There is only 1 partial and the price goes to a price momentum low 1 brick from support and I took partial2 as only 6 bricks – I would still have 1 contract open if price rejected and we went down lower, but if price breaks and closes up the midline partial2 would only be 3 bricks after 4 bricks of giveback
    • IF I hadn’t managed like this there would have been 4 bricks of giveback for partial2 and then 5 bricks on the 3rd contract for a price extreme reverse buy
  • Renko price extreme reverse buy gains 1 partial and goes to a price extreme reverse sell that is filtered – discussion of taking a 2nd partial and a difference in being on price -vs- testing price as part of the discussion
    • Price rejects and continues and goes to partial2 and into a price momentum diversion – further discussion of not trading an addon setup into the PMD that comes 8 bricks after the initial buy
  • Price envelope reverse sell exit -vs- sell reverse because the trade is price filtered – a loss is avoided and followed by a price envelope reverse buy and a price-midline reject with mex flow as an addon
    • The addon actually doesn’t have a fast momentum hook but the trade that is done is a price shift-reject that can be considered as a Renko method additional trade -vs- a trade that is against the Renko method
    • Further discussion of price and price action (a) support shifts to resistance and double rejects as it breaks and shifts back to support AND then goes to next resistance, where the price rejects as the brick high – continued relevance for a price that was identified from 6 weeks previous

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video437:

  • Renko British pound wedge breakout buy + price-midline reject addon with mex flow and fast momentum hook – the reverse of a sell swing resumption
    • Discussion of the ‘development’ of the wedge pattern, which was easy to see on the buy reverse and was missed when the resumption sell was traded – the components for seeing a price envelope reverse breakout only that could have been avoided were actually in place
  • Discussion of left-right prices under the area that was being traded – they would be support prices if trading reversed back to this area
    • These were clear prices from the previous day and after the session break (a) support1 = previous day double bottom low (b) support2 = low after session break
    • BUT what about additional prices below this area on a continuation sell and the implications for (a) not having a price on your chart from previous trading (b) going back to the left but not having enough chart data to find the last time we traded in that area?
  • Going back left for what actually took around 6 weeks to find the last time we traded in this area and the identification of trading prices – were these price still relevant after all of this time?
    • Consider these prices and current trading (a) trade1 = price break and shift to resistance, reject-midline reject with mex flow and fast momentum hook (b) trade2 = price extreme reverse buy but the green brick with right at the next price down as resistance and a losing trade was avoided

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video436:

  • Renko British pound price extreme reverse exit -vs- entry of price envelope reverse + midline reject addon, after a fast market breakout during the ‘last leg’ of the trade – should I take the trade or just go flat and yes, there is time to fill the short trade?
    • In discussing the trade, I noted the momentum condition at its maximum extreme that was ultimately my decision to go short instead of flat BUT there was certainly a case to go flat at this time because of the speed-strength of the previous move and the idea of a retest back up before reversing
    • This was not a discussion about not taking a price extreme reverse against a strong directional move – it was a discussion of not taking the trade against a fast breakout and also no reject of a price in the trade setup
  • Looking at the chart above the upswing we see there is already a left-right price on the chart as next resistance
    • When verifying this price, we see that it came from a double top high multiple days ago and after breaking to a higher high and then again as support, this is the next time that trading has gone back to this price
  • No Renko buy setup and another price envelope reverse sell and it was also stopped out, but still possibly the ‘best’ initial sell -vs- the price extreme reverse – again no buy setup after the stop, which was filtered both for momentum and the left-right resistance price
    • Note that there is no issue with the price envelope reverse sell, it was definitely a trade to take regardless of the previous fast up move – it just happened to be a losing trade
  • After the double top high-resistance brick miss test, there was another price envelope reverse sell – do you not take this sell again because of the previous Renko sell loss[es]?
    • Yes, you take the trade – losses on ‘base’ trades cannot be a decision for trading in the same direction again on another ‘base’ trade setup
    • In this case, the Renko price envelope reverse sell was followed by a midline reject with mex flow-fast momentum hook AND both trades got double profit partials – and at the end of the video, the trailing short for the initial trade was profitable by 16 bricks

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video435:

  • Renko British pound trading price review from the left side (a) support1-support2 still relevant in that trading had remained above them, then note how the next day the 2 prices  broke and shifted to resistance AND then went trading started on day2 inside of the prices – support1 was resistance and support2 became support1
  • Renko British pound beginning trading shows multiple potential buy trades that were filtered, making trade1 a price envelope reverse sell
    • Discussion of 3 trades that were Renko price envelope reverses that were not filtered but were losing trades – with further discussion of the 3rd trade and whether it was a resumption sell OR actually a wedge low ‘fake-out’ breakout
    • The ‘across the chart’ pattern, while these initial trades were taken, was that of a bull wedge combined with a Renko trade -vs- a pattern breakout only
  • Renko price envelope reverse-wedge breakout buy + price reject-midline reject with mex flow addon, breaks out through the wedge down trendline diagonal and to-through resistance
    • The 2 Renko trades held the retest of resistance as support and with that a filtered price extreme reverse – this was followed by what became a fast breakout and a +4 +8 +13 [fill] exit on strength
    • Discussion of price extreme reverse that ended the fast breakout and whether it should have been traded, even though there was 15 seconds of time and the trade could be filled OR just used as an exit because of being counter to the direction of the fast breakout

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video434:

  • Renko British pound long price envelope reverse-wedge pattern breakout – discussion of the ‘base’ Renko setup compared to the pattern trade and the key mex ‘read’ that gave the trade entry that was actually the brick before the actual envelope reverse dot showed
    • Further discussion of a scenario for a different trading price and the wedge breakout entry that was also a price failure breakout setup where the price envelope reverse would be filtered
    • Renko trading price adjustment for a ‘straddled’ price to a double top high and the further issues that its location compared to the next left-right price and how close they were to each other
  • The next Renko trade setup was a filtered price envelope reverse that was followed by a price reject-midline reject ‘first continuation’ trade entry that was stopped out without a partial AND no price envelope reverse buy entry trade because mex had not crossed
    • Price envelope reverse sell resumption and note how the 2 points for a down trendline were made AND the price envelope reverse buy [1 brick loss for the sell on the trade reverse] was filtered for the price but was a horizontal price-diagonal trendline breakout = price failure breakout buy entry
  • Price failure breakout long + price break2-midline reject addon with mex flow-fast momentum hook first move into the next resistance price with some stall getting through BUT both trades did have double partials
    • Discussion of the resistance reject-breakout into a fast market breakout giving a +4+8+12 exit on strength AND a price extreme reverse sell -vs- the price breakout speed and trade execution time available

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video433:

  • Renko British pound price envelope reverse short + price failure break addon short [from the previous video], with a discussion of continued trading price relevance, along with additions of new trading prices
    • Inside price between resistance and left-right price support = daily low and note the distance between support and resistance when this price is added -vs- including multiple high-lows on a chart
    • Initial trade +4+8+12 exit on strength and addon trade double partials – trailing a price extreme reverse but at the end of the video it is filtered for the support-resistance price
  • Beginning trading the next day after the session break with the question – what is the next trading price for support, the previous day low or a left-right price underneath it by 3 bricks?
    • The last time we saw the left-right price, multiple days ago, it was a double bottom low and this is the next time we are trading back to this area – I feel that this is the more relevant chart support price
    • And further note the continued relevance of the previous support price [now resistance] and the test-reject of this price on a retrace before going back to the lows
  • Discussion of basic Renko trades that gain a single partial profit and then reverse, but trading is continued because during this time there is range tightening but no transition into price consolidation that would cause trading to discontinue
    • Trading price adjustment from a ‘straddled’ price to the area high BUT note that I am not simply marking a price because it is a breakout high but because it becomes a double top high
  • Discussion of a wedge breakout entry that is traded after a double low-trendline break, but before the price envelope reverse dot
    • I made this decision because mex had crossed after the first low and continued up without crossing back when the double low was made, additionally with a full brick close above the midline and the anticipation that a next green brick would be a price envelope reverse

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video432:

  • Renko British pound price envelope reverse short + wedge breakout addon from the previous video BUT if there is a trendline that makes a wedge pattern then isn’t the price envelope reverse sell filtered for diagonal support?
    • No, because trendlines take 2+ points to construct and at the time of the price envelope reverse there is no trendline
    • Additional review of the addon sell as a pattern breakout -vs- a ‘base’ Renko trade setup and why this was a good trade to take
    • Additional review of inside price relevance, especially when there is a period when the price line is ‘straddled’ -vs- adjusting by replacing the 1 price with 2 new prices for the high-low break of the inside price
  • After double partials for the 2 shorts, trade1 = price envelope reverse buy above support that is followed by a price envelope reverse sell at the support price so it is filtered
    • Discussion of a potential midline reject with mex flow setup but that asks the question about whether that trade would be filtered – looking under the current trading range there is a left-right price from multiple days ago, which is confirmed as next the price that is next support since selling down to this area
  • This Renko continuation sell setup didn’t occur and it was followed by 3 more setups that were also filtered, bringing up the discussion of continuing to trade the British pound past the time when I typically have traded the index futures
    • Further discussion of current index volatility and fast markets have extended the time where I have traded the British pound or oil BUT that being said, don’t ‘force’ trades if these markets slow down and become range bound just because this is a time when ‘you are supposed to be trading’
  • The next Renko trade is a support-resistance reject price envelope reverse sell and note how this price retains its relevance, which is followed by a midline reject with mex flow-fast momentum hook addon BUT it would be filtered by the daily low
    • Discussion of adding the daily low as a trading price and inside price between resistance and the multi-day support price as a more current trading price and because of the distance between resistance and support

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video431:

  • Renko British pound price envelope short trade1 [from the previous video] and discussion about whether the left-right prices on the chart are still relevant or should there be adjustments from trading to this point, like because of the consolidation that occurred before this trade
    • (a) resistance and support prices that were brought from the left are still extremes during this trading period and certainly still relevant – but what about the inside price (b) the inside price rejected as resistance and broke and rejected as support on the move to the high giving it price action relevance
  • We pick up no new prices from the consolidation period AND this also brings up the discussion on inside prices and identifying trading price and not trying to keep making minimal adjustments for times where the price ‘straddles’ and you get some breaks above-below the price
    • These breaks are not relevant as new chart support or resistance prices and also causes more confusion because you could be taking 1 price [inside price] and making it into 2 prices by using the ‘straddle range’ above and below
  • Keeping the Renko inside trading price is related to our next group of trades, because the trades occur above and below the price (a) trade1-2 price envelope reverse + midline reject addon (b) reverse without partials as 3 brick losing trades and trade3 = price envelope reverse below the inside price – an addon is also done AND what is the trade setup?
    • The Renko trade4 addon discussion comes because clearly the trade is not a midline reject with the reject brick being completely above the midline and the fast momentum hook breaking above the upper extreme before coming back below the lower extreme
    • Renko trade4 is a wedge breakout addon, with mex flow and more than partial room to next support – not a ‘base’ Renko trade but a very good trade setup

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video430:

The main focus of the video:

  • Price across the chart and their continuing relevance and the difference in viewing [adjusting] outside prices and inside prices
  • Trading beginning with filtered trade[s] AND then transitioning into consolidation – what-where was the first trade that was done?

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video429:

  • Renko British pound trading prices from previous video and the question – are these prices still relevant to move to the right for next day trading?
    • (a) support yes – we never traded back down to that price until later in the day but it held on the test (b) inside price yes – this price continued to reject in both directions and later when it broke as support it shifted to resistance (c) resistance yes- this price continued to hold the whole trading session BUT it did bring up the discussion of left-right price relevance -vs- high after the session break
  • Renko British pound trading began after a sell after the session break that broke-rejected support as resistance and trade1 = midline reject with mex flow-fast momentum hook and what was an addon setup – where we could also see that there were left-right prices that were already on the chart
    • (a) Support1 = previous swing high double top breakout that later held on a double brick low test (b) support2 = previous session break low further confirmed with multiple hits and then a reject
  • Renko trade2-3 came from a price envelope reverse followed by a swing resumption addon and the addon was later exited after a partial and a full brick close below the midline – discussion of why a midline reject with mex flow was not then used as a setup for re-entering the addon
  • Price envelope reverse-trendline breakout trade setup with an additional discussion about whether the trendline break2 with mex flow-fast momentum hook be traded as an addon if it is filtered – pattern breakout setup -vs- Renko trade setup

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video428:

  • Renko British pound day trading prices (a) support = previous day swing double top that breaks as resistance and then shifts to support (b) resistance = 2 days previous low after session break and double-triple bottom breakout that shifts back to resistance – note the across the chart price relevance and how the first test of this price rejects
    • (c) resistance later breaks out and there is another resistance price on the chart from further to the left – a price from our previous video and is still chart relevant
  • Trade1 = discussion of a bull flag and how it compares to a bull wedge as a continuation pattern – noting that trading the pattern breakout actually comes before the Renko price envelope reverse
    • I didn’t trade the pattern because I didn’t start trading until the next brick, but it would be acceptable as a pattern trade -vs- a ‘base’ Renko trade
  • Price envelope reverse + midline reject addon sells are both stopped out on a transition into consolidation, which becomes clear from the mex middle range ‘braiding’ – note that there are 2 more price envelope reverse trades that are filtered for consolidation and not consolidation breakout setups that avoid 2 additional losing trades
  • There is a consolidation breakout that goes 3 bricks to support that rejects – the next price envelope reverse [buy] is traded as the setup is not inside of consolidation anymore

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video427:

  • Renko British pound day trading chart starting with 1 trading price, which comes from the previous day as the initial high and a double top that later broke and shifted to support, before going to the current day’s high after the session break – these are the support and resistance prices
    • The previous day’s high was resistance before the breakout after the session break and is now an inside price – support when above it and resistance when below it
  • The Renko trading video begins talking about 3 trades that occurred before I began trading – these were both bigger than typical moves in different directions and were significant for how they showed both a momentum and price slowdown afterward
    • Especially note how mex crosses from the downside extreme and then begins ‘braiding’ sideways – this is always a chart read for decreasing momentum and possibly a transition into price consolidation and/or compression
  • Trade1 = support reject price envelope reverse, which had mex flow and actually a fast momentum hook at the time, however, the trade went nowhere and was stopped out – this was on a price envelope reverse sell that was filtered for support and avoided back-to-back losing trades
    • Support double reject-price envelope reverse buy and I went back long, concerned with the transition into consolidation between the low and the high before the low – the primary basis for the trade though was a wedge breakout pattern that would be profitable if it went back to the higher before the low
    • Midline reject with mex flow and fast momentum hook AND a break2 of the wedge pattern down trendline – this trade was done as an addon based on a view that momentum was building again -vs- consolidating
  • Management discussion for the Renko buy + addon, focusing on momentum and an upwards drift in price that was like consolidation in that mex continued to ‘braid’ underneath the upper momentum extreme – and ’caused’ an addon exit and filter for a price-midline reject addback

Renko British Pound Futures Day Trading Chart And Method

Renko Day Trading Video426:

  • The Renko oil trading chart and the trading prices for when I began trading are left-right prices (a) resistance = previous day swing double top that has an additional 2 rejects as resistance (b) support = previous day swing double bottom that broke and rejected as resistance, including a double reject after the session break – the price did later break-shift back to support before trading began
    • IF resistance breaks there is another price on the chart from further to the left that has price action both as support and resistance, including a double top reject as resistance and then additional rejects as resistance – the price is still relevant if we trade back to this area
  • Trade1 begins with the resistance price straddling, first as a filtered buy that isn’t traded and then a reject-price envelope reverse sell that is traded – the ‘key’ to taking this initial trade as a price envelope reverse [during inside price straddling] is that the setup is into a triple breakout
    • Trade2 is a midline reject with mex flow-fast momentum hook that is also into the triple breakout – both trades partial and the swing ends with a double hold [the 2 lows in a 4 brick midline reject] AND do note the rising momentum on the 2nd low
  • A Renko price envelope reverse buy tests resistance and ends as a price extreme reverse sell BUT without the mex lines both extreme so no sell
    • This is followed by a double price reject with momentum going down and the ability to still enter at the price extreme reverse sell – does this setup replace the sell that was momentum filtered and actually as a better trade?
  • Price discussion and whether the double hold-rising momentum that ended the previous sell swing and is 9 bricks from next support, actually becomes an inside price AND if yes, how it effects continued trading
    • Further discussion of the clarity of most prices -vs- a price action price that may be viewed differently by ‘2 different traders’ and how there really isn’t a right or wrong – just manage your trading according to your chart read in this case

Renko Day Trading Chart And Renko Oil Futures Trading

Renko Day Trading Video425:

  • Renko British pound trading and looking at the continued relevance of the 3 trading price lines from the previous video for when beginning trading (a) resistance = yes, since we have never traded back to that price (b) inside price = yes, since we rejected the price as resistance and then shifted it to support after breaking the price (c) support = yes, since although this price did break to lower lows and shift to resistance it later broke and shifted back to support
  • Renko trade1 = price extreme reverse buy where the price envelope reverse sell had ‘triggered’ before I started trading and after going down 7 consecutive red bricks
    • Again referring to the discussion from the previous video and the Renko price extreme reverse brick count being 5+ bricks after the previous price envelope reverse and/or trade setup AND this would include price movement [completed bricks] before begin trading
  • Discussion of 2 consecutive trade losers that were both good setups but happened to lose, further noting that the 2nd trade was only a 2 brick loser that came after a filtered price envelope reverse sell on the next-price breakout brick
    • The next trade after these losing trades was a price envelope reverse – do you still take this trade or now wait for more of a ‘sign’ of continuation?
    • (a) double bottom (b) break back above previous support (c) price envelope reverse (d) into a double hold before the move down to the double bottom = triple breakout potential – take this trade regardless that the previous 2 trades were losers AND with no further indication that price had gone into consolidation
  • The price envelope reverse buy [discussed above] was followed by a midline reject with mex flow-fast momentum hook addon, with both trades partialling and reversing into sell on a resistance price reject-price extreme reverse – continue to note this price relevance across the chart and the importance to our Renko trading method

Renko Day Trading Chart And Renko British Pound Futures Trading

Renko Day Trading Video424:

  • I ended the last Renko British pound trading video with 2 buys that went flat on a price extreme reverse – I want to review 2 potential trade setups AND whether they were tradeable as price swing resumptions
    • Price extreme reverse sell immediately followed by a midline reject but mex flow has continued down and there is no fast momentum hook – this is not a swing resumption buy
    • Price envelope reverse sell that is filtered that is followed by a price envelope reverse buy but mex has not crossed back AND this was followed by a midline reject but still with no mex flow or a fast momentum hook – so neither of these are swing resumption buys
    • Price envelope reverse sell held for a price envelope reverse buy on a red brick and against mex, which was then followed by a price envelope reverse sell that had mex – this is a Renko swing resumption sell and would be done as an addon to the initial trade
  • Discussion of trading price for when start trading the next day and why the 2 prices on the chart should be moved to the right, along with 2 additional prices that became relevant (1) the initial higher high for the previous day after the price envelope reverse sell discussed above (2) a price that was already on the chart from 2 days ago as a double bottom daily low – this was the next time this price would be approached and was relevant as the next price support for a short sell
  • When I first started trading I had missed an existing sell swing and the first trade would be a price extreme reverse after 7 bricks -vs- 5 bricks
    • I presented this as not being a sell setup because of the extra bricks and a reason for not doing the trade AND I hope that you ‘saw through’ the discussion – of course, it was a trade setup and my first trade, which was followed by a price envelope reverse addon – the trade was a breakeven exit when I went back short
  • Renko trading pattern = wedge break sell swing continuation short AND note that this was actually a brick before the price envelope reverse dot buy with mex crossing and a fast momentum lead

Renko Day Trading Chart And Renko British Pound Futures Trading

Renko Day Trading Video423:

  • Renko British pound day trading, starting from the end of the previous video – short the resistance price reject-price extreme reverse + a price envelope reverse addon, after which there was a midline reject with mex flow-fast momentum hook setup that could be done as a 2nd addon
    • I didn’t do the 2nd addon, which was a very good setup with a previous diagonal [albeit through alternating red-green bricks] for continuation – why wasn’t the trade done?
    • Yes, there was the diagonal for price continuation that was partial width BUT besides hitting diagonal price as support, we can further see that there was an up trendline that was also price support – so at the time of the trade with only 1 partial taken so far, I did not want the additional size into horizontal-diagonal price support
  • In the previous video we discussed a horizontal-diagonal resistance price failure breakout buy that was traded – when price ‘stopped’ at horizontal-diagonal support, would a midline reject that hit support a 2nd time also be a failure breakout trade?
    • When comparing the 2 setups, we see a big difference in the momentum at the time of the potential trade along with the distance price had already moved after the price envelope reverse – with this additional price movement and mex essentially at a max extreme -vs- mex flow in the middle of the range, I did not consider this a failure breakout trade
  • Price envelope reverse buy went to a price extreme reverse – was this a tradeable setup?
    • There was no price filter against the trade, however, the blue mex line had just reached the extreme line and the purple line wasn’t close – this is an example of momentum filtering and not taking a price extreme reverse when there was still so much mex flow for the current direction
    • I held the buy and the price extreme reverse was followed by a midline reject with mex flow and a fast momentum hook for a price swing resumption trade – I took this trade as an addon to the open trade AND note that if the price extreme reverse had been tradeable that this resumption trade setup would have been done as a reverse back long

Renko Day Trading Chart And Renko British Pound Futures Trading

Renko Day Trading Video422:

  • Renko British pound day trading prices when beginning trading (a) support = previous day high, making the price envelope reverse right before beginning to trade not filtered and a trade that I would have taken if I had begun a few minutes earlier (b) resistance = left-right price from 4 days previously and as the first time we trade back to this area
    • Note the across the chart price action of first being a fast market double top-breakout to higher high and the later shift to support AND further note the significance of this price when it rejects as the current day’s initial high
    • Additional discussion of the high after the session break -vs- the left-right trading price as resistance
  • Renko day trade1 = after missing the initial reverse right before beginning trade, trade1 was a price extreme reverse that partialled at resistance – this was followed by a midline reject at price, which was a filtered trade BUT could this trade still be taken?
    • When trendlines are drawn on the chart we can see that price is actually trading inside of a triangle with the down trendline ending at the resistance price
    • When considering the midline reject as an addon trade and whether it is filtered, we further see that it is a break2 of the trendline with a fast momentum hook + mex flow and considered to be a price failure breakout entry -vs- a filtered trade and the Renko addon buy was done
  • While trading the Renko buy+addon there is another midline reject with mex flow and a fast momentum hook that is considered as a 2nd addon – can this be traded with a target of the left-right resistance price OR is it filtered by the high after the session break
    • Discussion of taking the trade and my view of the 2 prices as resistance, additionally being influenced by knowing that I only needed 1 more Renko brick for my first 2 trades to get partials
    • I took this trade as discussed BUT I completely understand using the high after the session break as resistance and filtering this trade
  • Price does trade through the high after the session break, making all trades profitable including a +4+8+12 exit on strength of the initial trade – the left-right resistance price rejects as a price extreme reverse = trade3, which is followed by a price envelope reverse addon

Renko Day Trading Chart And Renko British Pound Futures Trading

Renko Day Trading Video421:

  • Renko oil day trading prices and a discussion about these prices from the previous day (a) the resistance price was a price action price and how/when it became relevant (b) support was clear as a double hold low after the session break – also note the continued significance of this price when it broke as support and shifted to resistance
    • The resistance price becomes relevant as a trading price when (a) it breaks to the upside on a midline reject (b) breaks back to the downside also on a midline rejects (c) tests-rejects twice as resistance and then goes to the double low support
  • Renko trade1 is a price envelope reverse sell AFTER 2 potential buys that weren’t traded because they didn’t have the necessary mex or fast momentum hook to be traded – the trade1 sell was followed by trade2, which was a midline reject with mex flow-fast momentum hook
  • Renko trade1-trade2 both got 2 partials each and then went to a price extreme reverse buy – the trade could not be done because it was filtered, but it was used to take another partial profit to reduce giveback and still be short though if a close above price and the midline rejected and went back down
  • Trading went sideways but without consolidation and there were 2 losing trades plus 1 winning trade – these were followed by a ‘textbook’ price failure break into a triple bottom breakout AND with this breakout potential the trade quickly went to a price extreme reverse

Renko Day Trading Chart And Renko Oil Futures Trading

Renko Day Trading Video420:

  • Renko British pound day trading prices and price action that made them additionally significant (a) resistance = previous day double bottom and note why this price was already on the chart [see below] (b) support = the double bottom referred to below, in the price action description
    • Multiple days previously, this price rejected and went down to a double bottom, from which there was a reject and break above the resistance price, which shifted to support
    • Discussion of a ‘textbook’ price failure break, in this case meaning that support fails to remain support – the opening resistance price was price support the previous day, until there was a break2-triple bottom low break with mex flow and a fast momentum hook, going to lower lows and shifting to resistance
  • Trade1 was a price break2 that did have mex flow but no fast momentum hook – discussion of why this trade was a price envelope reverse entry and why the low after the session break a few bricks lower wasn’t view as support
  • Renko sell breakout into a fast market move keeping a price extreme reverse buy from being entered and even a price envelope reverse from buy from being entered, because of market speed – and do note that this was another situation where the trade before the fast breakout could be entered
    • Further discussion of market-brick completion speed AND if the price extreme reverse buy could have been traded, it would have been held for a price momentum divergence resumption
  • Discussion of the first trade that could be done after price ‘slowed’ down, which was a midline reject with mex flow and a fast momentum hook and partial room to resistance – this trade entry was viewed as a 2nd addon setup when considering the trade

Renko Day Trading Chart And Renko British Pound Trading

Renko Day Trading Video419:

  • The Renko price extreme reverse short at the end of the previous video partials at support and then price rejects and there is a price envelope reverse buy that is stopped out
    • When this is followed by a price envelope reverse sell at the support price resuming the previous swing, do we have a swing resumption price failure breakout setup or a filtered trade?
  • Consider the following price action (a) support break and retest as resistance (b) resistance reject and back down but to a price momentum divergence (c) price momentum divergence is followed by a double hold and price envelope reverse that is filtered by resistance (d) another resistance reject and price envelope reverse sell
    • However, this last price envelope reverse sell comes before a completed mex cross – does the previously described price action give you a pattern breakout trade [sell] regardless AND what is the significance of a price momentum divergence failure?
  • Price extreme reverse buy + price envelope reverse addon trades back to resistance again, which holds and is followed by a price envelope reverse sell – however, the previous swing has a rising trendline and the Renko sell would be into that price
    • If you enter the short on the next brick and the trendline breakout, would you be ‘chasing’ the trade entry or does a pattern breakout ‘allow’ the trade?
  • Management discussion for a price envelope reverse buy and holding the trade as it goes sideways along price support and a price envelope reverse sell but with only 3 bricks ‘against’ the trade

Renko Day Trading Chart And Renko Oil Futures Trading

Renko Day Trading Video418:

  • The previous video ended with a question about a 2nd possible entry for the price extreme reverse sell if the Renko method entry couldn’t be executed because of market speed – think about this question in terms of price action and whether the odds of a winning trade actually increase with entry2
  • The Renko method price extreme reverse sell is a trade setup and definitely comes after momentum is at a maximum extreme but it would also come after a directional move of 17 bricks and where there was no indication of a next resistance price
    • Trade entry2 would come after a double hold of the highs, which would give an indication of resistance AND with mex flow since there was a price mex cross + a fast momentum hook and lead – I would suggest that this is the higher odds trade and with an entry at the same price as the price extreme reverse, this is a good trade to go ahead and take
  • Discussion of a price ‘drift’ down that was like consolidation with multiple price envelope reverses and mex barely above the lower extreme on bounces – when trading was finally done again, note how it was a combination of a support reject-down trendline breakout + rising mex flow -vs- a retest of the down trendline
  • The Renko buy [described above] goes to within 1 brick of resistance, where there is a W breakout pattern setup that would also be through a triple top break of the highs
    • Discussion of this Renko trade setup as a potential addon trade and after a breakout to higher highs, whether the resulting price extreme reverse could be entered as a short that wasn’t filtered for support or market speed

Renko Day Trading Chart And Renko Oil Futures Trading

Renko Day Trading Video417:

  • Renko oil futures day trading prices and the trading significance for where these prices are located when compared to previous prices – we will see that when we break resistance that there is no further resistance price that we have been to in weeks
    • The first potential trade is a buy and (a) resistance = previous day’s high (b) resistance2 = high after the session break AND note that this isn’t viewed as a trading price until there is a price envelope reverse sell and we can see that it isn’t another higher high inside the buy swing
  • Trade1 = price envelope reverse but compare this to 3 previous price envelope reverses – after the initial high, the price goes sideways and compresses-consolidates with lower highs-higher low
    • Although the price envelope reverse buy wouldn’t be price filtered, it is filtered for consolidation – the trade can be done as a consolidation breakout setup, which is a triangle pattern breakout
    • Trade2 = midline reject with mex flow-fast momentum hook – this is an addon with further significance from breaking through the previous high and into an area where there is no current resistance
  • Discussion of the Renko buy1-buy2 breakout that becomes 17 consecutive green bricks, with only 1 counter brick [and a price extreme reverse sell that can’t be done regardless of market speed because it is price filtered] – was this a fast market breakout that occurred where trading could not be done -vs- a directional breakout into this new high area?
  • Consider the scenario at the end of the Renko video and a price extreme reverse sell [this will be discussed-answered in the next video] – IF the price is moving too fast to trade the price extreme reverse, can the sell be done after a double hold at the high with falling momentum as a ‘substitute’ for the price extreme reverse entry?

Renko Day Trading Chart And Renko Oil Futures Trading

Renko Day Trading Video416:

  • Renko British pound day trading chart beginning with a discussion of trading prices (a) resistance = high after session break that is further confirmed before trading as a double top – this price replaces the previous day’s high located a brick lower (b) support = previous day’s low
  • Renko trade1 = price envelope reverse buy that also syncs with the ‘correct’ brick color – there were 2 previous price envelope reverses that weren’t traded because they were on counter bricks
    • Renko trade2 = midline reject with mex flow-fast momentum hook BUT was this really a filtered trade entering at price – discussion of the price action and triple top price failure breakout that ‘allowed’ the trade
  • Discussion of fast market trading and breakout after the Renko trade1-2 buy and addon – were these trades really able to be entered or was the market too fast to trade?
    • As we have seen many times, the fast market occurred after the trades were entered and were actually a benefit that even included ‘positive slippage’ for profits as multiple bricks completed at the same time -vs- the market being too fast to enter
      • Do note the discussion of the times that the bricks completed and how the resistance reject-price extreme reverse was unable to be entered as a short or even used for a trade exit – further discussion of how a trailing stop below current price was used to go flat
  • After a resistance double top the market went sideways inside of consolidation, which wouldn’t be traded under any circumstance but in this case, the market remained fast – discussion of the fast consolidation and when trading was resumed again

Renko Day Trading Chart And Renko British Pound Trading

Renko Day Trading Video415:

  • Renko day trading video that has been done to answer a trader’s question, regarding the wedge pattern breakout discussed in video409 and whether the pattern would still be valid if the price envelope hadn’t reversed yet
    • Do note that in this case, yes the price envelope had reversed when the trade was done but the entry was at the Renko trading price – so, this was still a filtered trade regardless of the price envelope
  • We often discuss trading patterns with our Renko trading, especially the wedge pattern breakouts or reverses [video409 also discusses a wedge reverse that was traded that also would have otherwise been a filtered trade] and triangle breakouts BUT these patterns in themselves are not Renko trades
    • To be a Renko trade, the trade setup must include all of the components for the trading method setup type, as well as not be filtered for price or consolidation – what would typically be referred to a ‘base’ trade setup
    • The trading patterns that synch with a pattern trade setup further enhance the viability and odds of the Renko trade BUT as seen in the case of the wedge pattern breakout, the pattern included a price failure breakout with 7 bricks of room to resistance – this viewed as having the breakout potential necessary for continuation through the trading price and was traded as such
    • AND again, the price envelope reversing was not the determinant for the trade – it was the chart read for the price breakout and price continuation
  • Discussion for using trading patterns and how they enhance [increase the selectivity] of a Renko trade setup for trading size and/or management
    • What if you trade 2-3 contracts [typically 2] but have a Renko trade setup-pattern trade setup combination – this would be a good time to use the increase odds to take a 3 contract trade
    • Remember the discussion of increasing a partial size in video409 – a later short used the triple bottom breakout of the previous wedge pattern as breakout potential to continue to support and increase the partial size
  • Also discussed in this video was a midline reject-mex flow and fast momentum hook [Renko ‘base’ setup] as an addon that was 3 bricks from outside resistance – IF you trade 2-3 contracts this would be a good time to trade 2 and when you get a double top at resistance with a max momentum extreme, also a time to take a 3 brick reduced partial on the addon and/or exit at breakeven if resistance doesn’t breakout to a full partial

Renko Day Trading Chart

Renko Day Trading Video414:

  • Renko emini Russell day trading chart beginning with a discussion of trading prices and some difference in identifying index futures trading prices with those of oil and/or the British pound
    • Although the outside extreme prices like a daily high or low are significant [especially when the overnight trading is below the high-above the low], I especially look for prices that I can see have price action and higher low-lower high shift-rejects that then breakout to a higher or lower swing extreme
    • For instance, consider the following price AND related price action (a) price breaks above price and then trades back to it, where it holds and breaks out to a higher high and where an earlier sell break down was (b) at the end of the day we see the same price now have a double reject as resistance and a break down to support = double bottom daily low (c) there was one more of the price and then it held-rejected as the overnight session low on the way to the overnight session high
    • The trading price just described was beginning Renko trading support and the overnight high, which became a double top, was beginning Renko trading resistance — you will see the reaction at these prices during the Renko trading video and confirmation of their relevance
  • The opening Renko day trade was a price envelope reverse out of sideways period into the open and a trade I would not tend to take BUT then look at the same trade as a pattern breakout (a) double top high retrace to a swing lower high and a down trendline (b) a double low ‘base’ before going sideways with mex rising the whole time
    • This setup is a wedge pattern breakout buy and the first trade that was done – price moved all the way through the trendline to resistance and the reject there became a price extreme reverse sell
  • Discussion of whether a trade setup can be done as a 2nd addon [or addback since a first partial has been taken]
    • These trade setups are typically later trades and in this case the trade is 3 bricks after the addon and 6 bricks after the initial trade, which was a price extreme reverse – so we want more than just another setup, we want to also see the breakout potential that will give us continuation and a move to the next target

Renko Emini Russell Day Trading Chart

Renko Day Trading Video413:

  • Renko chart British Pound day trading beginning with trading price identification (a) support1 = previous day high – do note adjustment for this price to a full brick low after the session break (b) support2 = 2 day’s previous high (c) resistance = no recent price high to use for resistance and will be determined from current day’s trading and price action
  • Renko trade1 = support reject-price envelope reverse buy – this was followed by a price-midline reject with mex flow BUT no fast momentum hook, so an addon wasn’t done
    • Price immediately broke back below support and there was a price envelope reverse sell reverse of the buy – this was also followed by a price-midline reject with mex flow AND there was a fast momentum hook, so a Renko trade3 sell addon was done
  • After double partials for the Renko sell and the addon, Renko trade4 = price extreme reverse buy – this trade was stopped out with no partial profit BUT there was also only sell setups that were filtered, which avoided 2 losing trades
    • Renko support2 price reject-price envelope reverse buy was Renko trade5
  • The primary focus of this video was actually fast market trading -vs- entering a trade into what becomes a fast market – in this case, the price envelope reverse buy went into a fast breakout [multiple bricks printing together] and there was ‘positive slippage’ added to partial1
    • Discussion of a price extreme reverse sell that wasn’t traded or a buy exit, due to the speed of the market and the Renko bricks completing – where the Renko sell never could have been filled and the buy was held, again because of multiple bricks printing together
    • Discussion of a 2nd price extreme reverse 7 bricks higher than the 2nd partial profit on the buy – again too fast of a breakout to trade [short] and how the trade was exited on a trailing stop

Renko Trading And British Pound Day Trading Chart

Renko Day Trading Video412:

  • Renko oil day trading chart starting with a discussion of price and price action to the left of the session break when will start trading (a) the price was the current high of the day that was a double top and had broke-shifted to support before going to higher highs (b) the price action was very ‘peculiar’ because at 1530 central time there was a ‘full chart screen’ of Renko bricks
    • The trading price was support for when I started trading but I didn’t use the highs from the 1530 bricks for resistance and Renko trading resistance became the high [higher high] after the session break – this gave a relatively wide price range and I was looking for a center line from price action after the session break
  • The first potential Renko trade was a price envelope reverse buy BUT a further look at the chart [and drawing of trendlines] showed how the price was moving inside of a compression triangle and this trade was filtered by the down trendline – the first trade was a price envelope reverse-up trendline breakout sell
  • The price action from the breakout sell also gave a double bottom at the low after the session break – this became the inside trading price AND note how this price later shifted to support and filtered a losing trade
  • The next Renko trade was a support reject price extreme reverse buy – there was a retrace down after the entry of 3 bricks and a price momentum divergence with mex rising the whole time, so the trade was held for a full stop
    • The price momentum divergence held and was followed by a price envelope reverse addon – neither trade had partial expansion breakout because (a) the first trade was a price extreme reverse (b) the addon trade had only 4 bricks of previous diagonal room to resistance
    • Further discussion of trade management, including (a) double partials on each trade (b) the filtered price envelope reverse sell trade hold but the exit of the addon AND then a discussion of a transition into consolidation and my discontinuing trading

Renko Trading And Oil Futures Day Trading Chart

Renko Day Trading Video411:

  • One last Renko trading video discussing the oil trading chart we have been talking about, again focusing on the breakout potential and risk-reward that would ‘allow’ for a partial profit expansion and whether there appeared to be suitable odds for making the attempt
  • There is an open Renko price envelope reverse short that is back through a previous diagonal but since that diagonal was made up of a number of alternating direction Renko bricks and a ‘slower’ move, we do not get the sense of price ease of movement back through the diagonal  so no attempt at profit expansion
    • This kind of diagonal also makes it difficult to see areas that may act as support or resistance and stall a price move, for instance, we saw that there was a triple W breakout on the way up and that could easily cause a stall-retrace on the way down
    • This was the case and there was a retrace up from this point – we did get a swing resumption trade and an addon that also did not have breakout potential, both because there were only 5 bricks of room to support and there was no previous diagonal
  • There were 3 more Renko trades discussed during the video and why none of the 3 could be traded for partial profit expansion, even though 2 of the trades got double [8 brick partials] during a swing of consecutive bricks
    • Trade1 price envelope reverse buy with no previous diagonal and only 4 bricks of room to resistance – it just happened that there was a resistance breakout and continued green Renko bricks
    • Trade2 price extreme reverse sell with 4 bricks of room to support even though there is a very good previous diagonal to trade through AND we have discussed previous that the price extreme reverse is a profitable trade but not viewed as a momentum breakout – although the trade was profitable. there was a price reject at support -vs- a breakout through the diagonal
    • Trade3 support reject-price envelope reverse buy that only had 4 bricks of room to resistance – again there was a resistance breakout and 4 more green bricks for a double 8 Renko brick partial but no chart read to try for an extended partial

Renko Trading And Oil Futures Day Trading Chart

Renko Day Trading Video410:

  • Renko trading initial trade profits and continuing to focus on if/when the partial size can be expanded to greater than 3 Renko bricks – and not just the breakout potential to get the bigger partial BUT also the odds of that breakout potential actually leading to the target
    • If we are going to have a 7 Renko brick partial expansion target while trying to keep the risk of a smaller partial profit to 3 bricks [and we discussed how it would probably be a tick smaller than this]
    • This means that we need to be 7 bricks and the extra 3 bricks to cover 3 trades where we get the smaller partial OR we must be able to expand the Renko partial at least 25% of the time to break even – adding significance to the odds of breakout potential being met
  • Discussion of reversing to a buy on a Renko price extreme reverse and whether, in this case, does the previous diagonal give the odds of expanding the initial partial if there were 7+ bricks of red bricks down from the previous Renko short
    • My answer would be no and that although a price extreme reverse is a method profitable trade, it in parts counts on a momentum reverse to be profitable -vs- a momentum breakout and thus getting retraces-retests before continuing is typical
  • Discussion of adding a price envelope reverse addon to the price extreme reverse and how this could be viewed as a breakout [momentum continuation] into the previous diagonal, giving the attempt for a profit expansion
    • BUT when there is an immediate retrace after the price envelope reverse entry the trade is able to be held but the management decision becomes taking the ‘base’ 4 brick Renko partial profit instead of trying to increase it
  • Discussion of the previous diagonal and whether it is consecutive bricks of the same color -vs- bricks of alternating color, the amount of time of the price movement making the diagonal, and the effect this has on the odds of breaking out back through the diagonal

Renko Trading And Oil Futures Day Trading Chart

Renko Day Trading Video409:

  • The previous Renko day trading video asked a question about the last price envelope reverse at the support price and whether it was a filtered trade OR a price failure breakout short, similar to the wedge pattern failure breakout buy discussed earlier
    • After doing a chart read and drawing lines on the chart, we can see that there was a price momentum divergence that had a flatter trendline connecting the high price points than an up trendline connecting the rising bottoms ‘inside’ the divergence
    • This pattern is a reversal sell wedge [flatter highs than lows show the loss of momentum of price trying to continue higher] AND with the synch at the Renko trading price and the price envelope reverse this becomes a wedge-price failure breakout sell
  • Does the wedge breakout also give the potential for profit expansion?
    • The entry is into a previous diagonal that has 8 bricks of room to support and when the Renko trading price is adjusted to the diagonal low there is actually 10 bricks of potential – I made the price adjustment because it is more relevant when previous price action was considered
    • NOTE that brick speed going through the diagonal and bricks that were well less than 1 second to complete – this is not from a fast market but an indication of the ‘ease’ of price movement that we can get going through a previous diagonal AND the basis for the breakout potential we view in the Renko trading method
  • Price moves to the 10 bricks target support and 2 partials are taken, considering the (a) size of the move down (b) completing the whole diagonal (c) a double bottom at the diagonal-support low (d) and the risk-reward and odds of continuing down -vs- the odds of getting a price extreme reverse

Renko Trading And Oil Futures Day Trading Chart

Renko Day Trading Video408:

  • Still discussing Renko day trading continuing from recent videos – the video begins with a review of 2 trades as chart pattern trades -vs- Renko trade setups and discussing the differences between a pattern failure break and a pattern failure breakout
  • As discussed, the Renko short has a ‘basis’ for extending its partial size and a 7 brick partial can be taken at target support BUT what does that mean for partial2 – since partial1 was 7  bricks should partial2 now be 11 bricks or does the 8 brick partial still apply?
    • Further discussion of waiting for a counter brick [price extreme reverse] before partial2 and/or risk-reward for trying to extend the partial2 size further
  • The Renko sell is followed by a price envelope reverse buy AND there is a previous diagonal to trade through – but is there the needed risk-reward to extend the partial1 size or should the 4 brick partial be taken
    • Discussion of the previous diagonal and where resistance is located AND whether there are 7 bricks of room to that target
    • We find that we do not have the risk-reward and our ‘base’ Renko partial[s] and management are done
  • The video ends with a question that will be discussed in the following video – is the price envelope reverse at the Renko chart support price give a price failure breakout sell or is that a filtered trade that won’t be done?

Renko Trading And Oil Futures Day Trading Chart

Renko Day Trading Video407:

  • This Renko trading video continues with the previous video, discussing partial profit expansion and the risk-reward for attempting to do this – for instance, what is the risk in not taking a 4 brick partial while trying to extend this size?
    • If you go 4 bricks and don’t take a partial until there is a completed counter brick and that immediately happens, then your 4 bricks of profit become only 2 bricks
    • If you were able to partial at the high-low of the previous brick you would get 3 bricks of profit, but chances are you would end up with 2 bricks + 2 ticks on a Renko 3 brick chart
  • What is the reward that you should have to accept the risk of 3 or fewer bricks of profit after hitting 4 bricks – I want at least 7 bricks of profit potential to the next target AND clear ‘chart read’ breakout potential to reach that target
  • Consider that you are short and the previous swing has a previous diagonal to support that is 8 bricks, then you have the 7+ bricks of extended profit potential
    • This potential increases if the previous swing diagonal also had multiple green bricks to trade back through, because this would increase the ease of price movement back through the diagonal
    • There are also patterns inside of the previous diagonal and/or swing resumption that increases the ease of price movement – consider the following…
  • Before taking the Renko short trade the previous swing[s] are a buy followed by a buy resumption – the buy resumption comes from a combination Renko price failure breakout + wedge pattern breakout
    • The wedge pattern is a falling trendline break with a double bottom base into the pattern, thus the breakout potential for the short is (a) triple bottom breakout (b) into the buy swing diagonal (c) that is 7 bricks to target price support and 10 bricks to the previous diagonal low
    • This extra breakout potential gives the risk-reward for extending the partial size for the Renko short and also increases the odds of gaining the increased profit

Renko Oil Futures Day Trading Chart

Renko Day Trading Video406:

  • Renko trading price review for left-right prices that are already on the chart from the previous trading day[s] – discussing the price action that continued at these prices, along with the method concept of price relevance for a brick miss, brick break, and brick hit
  • Consider the following price movement from the low after the session break (a) move from low to resistance [inside price] (b) resistance reject and retrace is a double low before continuing back to and through resistance (c) continuation to the next resistance price (d) resistance reject-inside price failure break sell
    • Do you recognize breakout potential from the Renko chart price movement described and back to what point?
  • The price movement described shows that if the failure break trade entry goes to the double hold-continuation point leading to the move to the resistance, then there is a triple breakout AND under that breakout would be a previous diagonal leading to support – this entire move shows breakout potential of 7 bricks
  • The primary focus for this Renko day trading video and the question-price movement description above is for the concept of partial profit expansion to a profit greater than the 4 bricks ‘base’ Renko day trade partial
    • This increase is profit would obviously be beneficial for trading profits and especially as a tool for limiting the effect of profit giveback BUT there is a risk-reward element to trying this that needs to be further considered

Renko Oil Futures Day Trading Chart

Renko Day Trading Video405:

  • Renko oil day trading chart prices and falling into a trading range -vs- a trading range breakout into left-right prices that we haven’t traded to for multiple days
    • (a) support = previous day high + double top with initial high after session break (b) resistance = double high-mex cross after session break – these prices give a range that just has enough room to trade unfiltered
    • (c) resistance2 = 2 days previous swing double top (d) resistance3 = 2 days previous swing double bottom that breaks as support and shifts to resistance
  • Renko initial trading is inside of a range but without signs of consolidation-compression yet BUT it is being looked for because without a range breakout single partials will be the biggest profit possible
    • Trade1-2 = price envelope reverse sell and price envelope reverse buy combination; the sell loss 1 brick and the buy loss 3 bricks, without partials – note that a sell addon was filtered AND another price envelope reverse sell after the losing buy was also filtered
    • Trade3 = support reject-price envelope reverse buy that partialled and went to a Renko price extreme reverse sell that was filtered, so the trade was held and gained a 2nd partial
  • The Renko trade3 was exited after the left-right resistance2 reject but sells were filtered by the resistance1 shift to support – the next Renko trade was a downtrend-price envelope reverse buy
    • This trade finally broke out of the range[s] and included an addon trade – gaining a +4 +8 +12 exit on strength and a +4 +8 +6 exit of the addon on a price envelope reverse
  • Although Renko trading was range trading that also caused some trades to be avoided because of being filtered [note that these filtered trades would have been losing trades] – price never did compress-consolidation where it was necessary to stop trading

Renko Oil Futures Day Trading Chart

Renko Day Trading Video404:

  • Renko oil day trading chart beginning with the end of the previous video and discussing a potential ‘addback’ trade setup, comparing the momentum in this setup with a trade not done that would have been profitable
    • Again, these trade setups were against momentum – not traded and if done would have been immediate losing trades
  • Discussion of the next 3 trades that were all losing trades of 1-3 bricks; the smaller loss sizes a function of price envelope reverses that were not filtered – these trades were followed by 2 trades with a single partial
    • Talking about these trades included momentum and continuation -vs- range-bound trading and staying inside of the Renko trading prices – the issue really wasn’t the lack of momentum but the lack of a price breakout
  • I traded inside of the range BUT with a focus of when it would become untradeable, compressing-consolidating and losing momentum range [braiding and staying in the ‘mid-area’ -vs- going to the momentum extremes] where I would stop trading
  • The last range trade I took [price envelope reverse buy] partialled and rejected resistance, giving a price extreme reverse sell – this was followed by a price envelope reverse addon that had 6 bricks of room to range support
    • Price moved to support, giving 2 partials for the Renko price extreme reverse sell + 1 partial for the addon AND this time there was a range breakout that gave a +4 +8 +12 exit on strength and a double partial for the addon

Renko Oil Futures Day Trading Chart

Renko Day Trading Video403:

  • Renko oil day trading prices AND look at the additional clarity of these prices becoming shiftline-price action prices (a) resistance = left-right double bottom that also breaks as support and then shifts-rejects as resistance (b) support1 = low after session break that becomes a double bottom and breaks-shifts as resistance and actually is first resistance when beginning trading (c) support2 = left-right double bottom that breaks as resistance and shifts-rejects as support
  • Renko trade1-2 are related to the price action that shifts support1 to resistance = price reject-price envelope reverse + price reject2 with mex flow addon
    • Price moves to support2 and then note how price stalls there for 9 bricks before breaking through and continuing, further confirming the relevance of a price not seen for 2 trading days
  • Discussion of momentum and Renko method trading, focusing on 3 trades that were momentum filtered BUT 2 of them were actually winning trades – further discussing looking at the viability of momentum filtering over the larger number of trades -vs- a couple of trades and how this is a winning strategy
  • Back-to-back Renko losing trades followed by 2 filtered trades that were avoided that would have been losing trades – the next series of trades were an initial trade + addon trade with double partials

Renko Day Trading Video402:

  • Renko oil day trading, continuing with the previous video and ‘re-marking’ the location of the first partials for the Renko sell addon that broke out again into a fast market
    • Discussing this had nothing to do with changing the partial price because it was the same, but because the location affected continued trading
    • The partial was taken after a price momentum divergence and a red brick low-2 green brick retraces – the price movement had slowed down minimally and enough to partial, but there was no way to go long on the PMD-price envelope reverse buy and the trailing short was still held
  • The Renko sell went down a few bricks lower and the price did slow down enough to continued trading – the next series of trades came off of a left-right price reject [the price had been on the chart for 3 days] price envelope reverse buy + midline reject addon
    • Discussion on trading relative to fast markets (a) there is no way to trade during a fast market but after the market resumes ‘normal’ brick speed it would be ok to trade again (b) just because there was a fast market selloff, I would not trade if I was biased to only trading sells and avoiding any buys
  • After the 2 Renko buys there was a price envelope reverse sell that was traded – the sell went straight down 13 consecutive red bricks BUT was this a fast market breakout and could the sell have been entered?
    • The sell was ‘easily’ entered with 3 minutes between the full brick close below the midline and the price envelope reverse – so if there was a fast market breakout, it would be after the trade was entered and could be positive slippage
    • Although there were a couple of times where 2 consecutive bricks would have completed together, the whole swing was 20 minutes long and not the result of a fast market

Renko Oil Futures Day Trading Chart

Renko Day Trading Video401:

  • Renko oil day trading prices start with left-right prices before the session break (a) resistance = double top and note how this is a price action price that was a support double bottom breakout and then shifted to resistance (b) support = double bottom
  • Beginning trading (1) price envelope sell + midline reject addon = full stop without partials (2) price envelope reverse buy = 3 brick move to resistance and rejects without partial (3) price envelope reverse sell = 2 brick loss on Renko day trade2
    • The Renko sell breaks out to support, giving partial1 + partial2 – is the support reject-price extreme reverse sell a Renko method trade
    • Price extreme reverse not filtered if above support or below support with 3 bricks of room AND both mex indicator lines have gone to/below the lower extreme, which is the case but the trade still isn’t done – why not?
  • This becomes a very unusual trading period, with the primary focus on fast market breakouts, which actually happens multiple times while trading BUT after the trades are done
    • So the price extreme reverse isn’t done, because the trade could not be filled due to the speed of bricks completing – the entry brick is one of 4 bricks that have the same ‘time-stamp’ and would essentially be seen at the same time
    • Note that you can have red and green bricks completing together – the difference in brick color doesn’t mean that a fast market has slowed down
  • Interestingly, after the green brick completes the next brick becomes red and doesn’t complete for another 4.5 minutes, allowing for a price failure-midline reject Renko trade that can be done as an addon – another red brick completes and breaks out into another fast market
    • Note all of the red then green bricks that complete before a partial profit is taken — this will be further discussed in the next video, but the partial profit was done after the price momentum divergence and not the brick I marked [I discussed this ‘marking’ mistake because it affected continued trading]

Renko Oil Futures Day Trading Chart

Renko Day Trading Video400:

  • Renko oil trading prices begin with a closing double top, from the previous day, which is also a clear example of a price action price as it breaks as resistance and then shifts to support – resistance comes from the high after the session break, when there is a price envelope reverse from that price
    • An additional price becomes next resistance after a buy breakout, which is a left-right price that is on the chart from a high a few days ago
  • Renko day trading begins with a price envelope reverse + midline reject sell that gets 1 partial and a 1 brick loss on a price envelope reverse buy that breaks out into a fast market move – was there any issue with entering the trade?
  • Discussion of the price envelope reverse buy that went up 17 bricks before a filtered price extreme reverse sell that was filtered and held – discussing the speed of the bricks and the places where multiple bricks would have printed on the chart at the same time
    • We do see that there was no issue at all with entering the trade and the fast market began after the breakout was underway
  • The next trade that was done was a price envelope reverse sell after a move to higher highs that kept the trade from being filtered for support – further discussion of multiple holds of the buy during filtered sells, along with a new resistance price that was added to the chart

Renko Oil Futures Day Trading Chart

Renko Day Trading Video399:

  • Renko British pound day trading begins with 2 left-right trading prices that are both resistance to the first trade (a) previous day low that after a lower low, breaks as resistance but then breaks as support and rejects as resistance again (b) the previous day lower low that also becomes a double bottom (c) trading support is the low price after the session break
  • Beginning trading comes from clear Renko chart trade setups = price envelope reverse buy + midline reject addon – but the addon is stopped out, although the initial trade can be held
    • After the stop there is a price envelope reverse sell that is filtered, followed by a price envelope reverse buy resumption that replaces the addon AND both trades get their initial partial profits, which is then followed by a price envelope reverse sell
  • Discussion of the price envelope reverse sell that exits the buys and is quickly stopped out AND then why the trade is not only filtered but the initial buy [with 1 partial profit] is still held
    • When a diagonal line is drawn on the chart, it is clear as diagonal support that filters the price envelope reverse sell and the buy is held
    • There is a resumption trade setup = midline reject-triple break that is done as an addon – this is followed by a breakout and the initial buy gets a +4+8 +12 exit profit and the addon gets a +4 +8 + 7 profit, reversing on a price extreme reverse sell
  • Discussion of price continuation and addons as a key component to our Renko trading method, because these buys were followed by an initial sell+addon that both get full stops without partials
    • However, the previous buy profit covers the loss from both trades and the profit from the addon makes the pair of trades net profitable

Renko British Pound Day Trading Chart

Renko Day Trading Video398:

  • Renko oil day trading prices come from a high-low range from the previous day BUT more significant to these prices were the FAST market that they were containing
    • Price move inside of the 2 prices for 2 full chart screens and many [most] of these must have completed together considering that the time was 1-2 seconds apart – viewing this in terms of any given market, this is the kind of fast market that never could be traded or tried to be traded
  • Renko day trade1-2 = price envelope reverse buy + midline reject with mex flow-fast momentum hook addon, where neither trade partialled and were exited on a price envelope reverse – the exit was price filtered as a trade BUT could the trade actually be taken?
    • The question asks-discusses the difference between a Renko ‘base’ trade setup and a pattern breakout setup – when relevant lines are drawn on the chart we see that there was a bear wedge breakout setup at price and with 4 bricks of room to the bottom of the wedge trendline
    • The losing buys were reversed to a short trade on this pattern setup with an addon done on a midline reject with mex flow-fast momentum hook addon
  • After going flat the shorts with 2 double partials, the trailing short still had 6 bricks of giveback – discussion of whether there was any kind of ‘management setup’ that could be used to reduce this giveback
  • The next potential Renko trade was a price envelope reverse buy but it was filtered and the breakout to a price extreme reverse sell was missed – short the price extreme reverse
    • Discussion of the price extreme reverse sell hold on a red brick price envelope reverse buy, followed by a price envelope reverse-resumption short trade that was done as an addon

Renko Oil Day Trading Chart

Renko Day Trading Video397:

  • Renko British pound day trading prices and especially focusing on price adjustment if a new price has more relevance than an existing and/or left-right price
    • Beginning support is a left-right shift line that was first a double top resistance price that broke and shifted to support BUT it was replaced after the next session break to a lower double bottom
    • However, Renko trading had a higher low double hold that was also the low before a breakout to a higher high and that was also the initial support price – and the trading price was shifted back to this line
  • Continued discussion of our Renko trading prices for resistance[1-2] from the previous day’s trading BUT understand that adjustment and significance for a previous single point high only with a current day’s double top-price momentum divergence – and how that affected trading
  • As discussed numerous times, our Renko method as a price continuation method, unfortunately, incurs profit giveback on retraces-reverses when we don’t get price continuation and only single trade profits AND without a good, consistent way of preventing this – again with the tradeoff of having bigger size and bigger profits on the larger price moves
    • Discussion of reducing trade size before partial2 [+8 bricks] after a double top higher high-price momentum divergence and mex cross – this is one ‘management setup’ that could be consistently used to reduce giveback and note that is a size reduction and not trade exit, meaning that if momentum resumed for a continuation breakout that the trade would still be open

Renko British Pound Day Trading Chart

Renko Day Trading Video396:

  • Renko oil day trading video

Renko Day Trading Video395:

  • Renko British pound trading prices when beginning trading (a) support = closing double hold that becomes left-right double top after session break reject and move to lows (b) resistance1 = high after session break (c) resistance2 = previous day double top high
  • Beginning trading includes an initial buy that partials with a stopped out addon and an initial sell with an addon that gets 1 partial only – profitable to this point but not much, with small relative moves and reverses with giveback
  • Back long on a price envelope reverse and a midline reject addon that is finally followed by a breakout with continuation OR are these trades actually missed because they are filtered by resistance1 and the high after the session break?
    • Discussion of price adjustment for resistance1 and the initial high after the session break, noting that this is (a) a high that is lower than the previous day high (b) and not a left-right price – this high is followed by a double top higher high after the session break and with this price adjustment, the buy + buy addon are done without filter
  • Discussion of a 2nd addon and the breakout potential from the pattern = W breakout with mex flow-fast momentum hook and a previous swing diagonal that has 5 bricks of room to resistance – this is one of my favorite continuation patterns because of the triple break in the W

Renko British Pound Day Trading Strategies

Renko Day Trading Video394:

  • Continuing Renko oil trading from the previous video and focusing on breakouts into a fast market and how that affected (a) trade entry (b) trade partials (c) continued trading
    • Discussing trade entry into a fast market -vs- trading a [during] fast market – for instance, trying to trade the Oil EIA news report — I [we] cannot trade a fast market and will not try
  • As shown in the previous video, I was long oil from a Renko price extreme reverse + Renko price envelope addon, with partial1+2 on the initial trade and partial1 on the addon trade – these were all ‘base’ Renko trades and partials and although a fast market breakout occurred, there was no impact to this point
    • Further discussion of partials for a +4 +8 +12 exit and addon partial2 and what I referred to as positive slippage
    • There was actually a +4 +8 + 15 exit and +14 partial2 – not because of anything special that I did but simply because of where the price was when I entered the next set of partial trades
  • The Renko buy swing reverse started with what would be considered a discretionary trade, but think of the basis for continuation when taking this trade (a) price momentum divergence (b) triple break under price and what technically would filter the trade (c) large previous swing diagonal to trade through
  • Renko buy1 was followed by a midline reject with mex flow-fast momentum hook and plenty of time to enter the trade – but we again went into a fast market as the price went through the previous diagonal and a positive slippage area where multiple bricks would have completed
    • Do fast markets [besides news] tend to be breakouts into the fast market that could have thus been traded OR do the occur at the initial trade area and are thus too fast to trade?

Renko Oil Day Trading Strategies

Renko Day Trading Video393:

  • There are 3 Renko oil trading prices for beginning trading (1) support = previous day swing double top (2) resistance1-inside price = double top between swing high from the previous day and the initial high after the session break
    • (3) resistance2 would be the difficult price after there is an after the session break higher high AND a left-right price already on the chart – the left-right price is the previous day high and is the Renko trading price
  • Continued discussion of entering Renko trades using trading lines and the speed of bricks completing, talking about multiple bricks with the same time and probably appearing at the same basic time – and how does that affect trading
  • Using trading lines to enter 2 4-brick midline rejects and 1 3-brick midline reject, discussing the timing of when the setup can be anticipated as being tradeable
    • Midline rejects are the ‘simplest’ Renko trades to fill because of the retrace into the trade, where you can still read the condition of momentum in the direction the trade
  • The final Renko trades in the video include an initial buy + addon buy that includes a 17 consecutive green brick breakout – were these trades and trading period actually too fast to trade?
    • Buy1 = price extreme reverse with 1 minute between the extreme brick low and entry brick close – buy2 = price envelope reverse with 3 minutes between the full brick close above the midline and the entry brick — there was no issue with entering either of these 2 trades
    • The fast breakout actually occurred after a midline reject and didn’t attain speed, where multiple bricks would be appearing together until a breakout of resistance and first partials were taken – there was nothing about the breakout that affected trading except actually for the better because there was positive slippage in filling some partials

Renko Oil Chart Day Trading Strategies

Renko Day Trading Video392:

  • When we ended the previous Renko British pound video, I was short with a reject of support and then trading after that was a price envelope reverse buy-midline reject addon that was followed by a price envelope reverse sell – the sell went through support [inside price] and all the way down to the extreme support trading price
    • Was there anything from the additional trading that changed the relevance of our existing Renko trading prices, or should these same prices be used for the next day after the session break?
  • Discussion of sell swing that had a price extreme reverse buy followed by a midline reject resumption sell – talking about executing each trade with trailing ‘trading lines’ and whether the bricks completed too quickly to execute the trade[s]
  • Discussion of a price envelope buy that was followed by a midline reject and had a price extreme reverse – talking about method trades -vs- discretionary [continuation patterns] trades and whether either of the trades ‘should’ be done
    • Do note that in general, when considering discretion and continuation, I could do a midline reject in the direction of the open trade but would not do a filtered price extreme reverse against the direction of the open trade
  • Discussion of a large sell swing that went 16 bricks after the entry – talking about the speed of the bricks completing and trailing for a price extreme reverse buy using a ‘trading line’ and where/when the line would be included or deleted
    • Do note that even if this was a ‘fast market’ breakout that there was no issue entering the trade as a midline reject-price failure break sell setup

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video391:

  • Renko chart British pound trading continuing from the previous video AND the final question – are we short at the price envelope reverse if continuing trading?
    • The answer to this question will take a ‘re-look’ at the Renko trading prices on the chart and whether there was a missing price – NOTE that none of the trading done in the previous video was affected
  • The left-right support price belonged on the chart BUT so did a double top high from the previous day – and then before I began trading there was a double higher high-price envelope reverse that also belonged on the chart
    • So, we had support at the previous day double top and resistance at the double after the session break – there were 4 bricks of room for the initial buy and 3 bricks for the addon buy, so these trades were not filtered
    • However, the price envelope reverse sell [at the end of the previous video] was filtered for the 2 bricks of room to the resistance-support shift and the trade was not done
  • What is a price momentum divergence failure – it is the breakout of a previous PMD and thought of as the resumption of momentum = failure of the divergence
    • This is a pattern breakout trade that has been long used in this method from the time of tick bar chart day trading and for position trading, including for addon trades AND in this case, it was used as a resumption buy after going flat the open buy when the filtered price envelope reverse sell occurred
  • Discussion of a price extreme reverse sell and trailing the entry with a ‘trading line’ to be stopped into the trade – after going 5 bricks we know where the trade would be entered and if it would be a filtered trade

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video390:

  • Renko British pound day trading from 7/15 session break, but looking at Renko trading prices from 7/10-7/11 and whether they are still relevant
    • Resistance = double top that rejected as a triple top failure and has never been hit before 7/16 trading
    • Support = double bottom low after 7/10 session break that has remained price action relevant, including the breakout to lower lows and a retest double top that broke and shifted to support
  • Trade1-2 discussion about execution and also understanding how the trade would trigger
    • After the price extreme reverse into buy [not trading yet] there was a red brick low at price with mex flowing up and the start of a green brick – knowing that if the brick completes I will have a trade to take, I put a stop at where the brick completes, with a 1 tick limit in the next brick
    • After entering buy1 there was another completed red brick and start of a green brick, with mex flow up and a fast momentum break back below the upper extreme – knowing that if the green brick completed I would get a fast momentum hook and an addon trade, I again put a stop-limit to enter the trade
  • Renko trades can be anticipated and entered similarly to these, giving more execution time AND if the ‘trigger brick’ doesn’t complete I can pull the trade – and then after the trade fills, I can enter my stop price and a partial price… being sure to pull the trade [or have it pulled via a script] after one side fills
  • Renko trade1-2 both got double partials and the addon was exited with a full brick close below the midline, followed by a price envelope reverse exit if going flat or short if continuing to trade OR was that actually the trading decision that was made… discussion to be continued in next video

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video389:

  • Renko British pound day trading for what was a bad trading period that had a net loss NOT because good trades were missed because they were filtered but because there just wasn’t continuation after the trades
    • The best trade during the period got a partial profit + 3 bricks when reversed – there were no double partials or addon partials
    • However, the loss was small compared to an average day gains – way smaller than the gains we see from a good continuation day that has the +4 +8 +12 exit with a double partial on an addon
  • This trading period also had a number of  discretionary trade and management decisions, which does become the case in slower and/or tighter trading periods – be sure that there is a good ‘basis’ for the decision AND you don’t simply find yourself trading inside of consolidation and/or breakouts only
  • Discussion of managing for a support price that if [when] hit would also be a 4 brick stop for a loss AND why 1 time I stopped out on the trade and 1 time I held the trade for a bounce, knowing it would be a 5 brick loss
    • Trade1 was stopped out on the 4 brick test of support – trade2 was held though, because the test was with rising mex and it was as a double bottom
  • Discussion of a midline reject that was traded without mex flow – because it was a pattern trade, where there was a shift-reject as support to resistance with midline slope down and although there wasn’t good mex flow, the blue line was below the purple line

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video388:

  • Getting ready for the first Renko British pound day trade, where are the relevant trading prices (a) resistance = previous day high that although broke by 2 bricks, it broke and had multiple rejects right after the session break (b) support1 = previous day high before the breakout to higher high resistance – this is actually an inside price (c) support2 = low after support1 reverse from high and the low before the breakout to the higher high
  • There were 3 trades taken and the gains were partial1 on 2 [1 had a 1 brick gain on trailers and 1 had a breakeven exit] and a 2 brick loss with no partials – trading was a problem in that we were compressing inside of 2 trading prices and previous diagonals, without going to support or resistance
  • Because of the Renko price compression described above, when I took my next trade I was concerned about trading into a lower high-higher low triangle, which would have occurred without a breakout – in which case, I would have stopped trading until there was an (a) triangle breakout setup (b) a triangle breakout [if no setup] followed by a midline reject with mex flow
  • There was a breakout and no triangle occurred, followed by 2 midline rejects [the 2nd one was the double midline reject-triple break] – discussion of the momentum in the 2 potential addon setups, including the 2nd one that I have shown as my favorite pattern for doing double addons

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video387:

  • Renko British pound day trading continuing with the last trade from the previous video, first confirming our Renko trading prices and the price action that has taken place to this point
    • Trading prices are clearly relevant with the double bottom support test-rejecting into a price envelope reverse and then resistance rejecting at the brick high and also reversing
    • Price action in terms of momentum and price movement are both good, with mex going to an upper and lower extreme and price moving all the way through previous swing diagonals and going to resistance and support
  • Consider the next 3 trades that were consecutive losers – all ‘base’ trade setups with more than partial room BUT price compressed, instead of continuing to support or resistance and momentum started lagging and/or become divergent
    • A 4th Renko trade, which was a sell, did get a partial profit but our momentum read showed a drift [essentially consolidation during a down or up price move] with momentum ‘braiding’ at the lower extreme – on this read, I went flat on a price envelope reverse but not long
    • We continued to see this momentum ‘braiding’ and lag and I made the decision not to take a price envelope reverse trade until there was a midline reject with mex flow-fast momentum hook
  • Momentum expanded-resumed on a support breakout, making the next Renko trade a price extreme reverse that partialled back at the previous support line and also broke as resistance
  • Discussion of previous downside drift trendline and not taking a partial setup that was right into that area AND then a partial on a second midline reject with price momentum that was right above the area-trendline

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video386:

Renko Day Trading Video385:

Renko Day Trading Video384:

  • Why does the Renko oil chart only show 1 trading price at a double top high after the session break that shifted from resistance to a break and shift as support?
    • We are actually looking at a chart that is inside of left side wide range trading and resistance above-support below are outside of the chart width we are looking at
    • The point is that I would not trade without identifying a support and resistance price and in most cases an inside price – for instance, the resistance price that shifted to support would be inside of a resistance price above it and a support price below it
  • Note that the double top after the shiftline was already on the chart as a support price from the previous day – and another example of left-right price relevance to previous chart prices
    • (a) outside resistance = previous day high, which was also a double top and brick-break reject (b) outside support = initial high breakout to higher high and was also a news high breakout
  • Discussion of doing a 2nd addon after a price envelope reverse + midline reject addon, even though there were not trade partial profits gained yet
    • The trade setup was a 2nd midline reject with mex flow-fast momentum hook, which has been shown as my favorite addon2 setup AND in this case the trade was also done through a down trendline that gave breakout potential back to resistance, which was a distance of 6 brick

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video383:

  • Where are the Renko chart British pound trading prices (a) resistance = low after session break from 2 days previous that was also the daily low but that had then broken the next day AND shifted from support to resistance (b) support = previous day low
  • Discussion about adjusting a previous day[s] price for a full brick high-low today AND how that can effect filtering and trading – remembering a previous day that caused 2 profitable trades to be missed, while today it caused 2 losing trades to be avoided
    • When adjusting the price for a full brick, move a low up -vs- down to a price that hasn’t been traded at and/or move a high price down -vs- up to a price that hasn’t been traded at
  • Midline reject buy setup filtered for price and momentum, followed by a price envelope reverse sell that gained 2 partials and ended as a price extreme reverse buy BUT should that setup be traded?
    • Discussion of adding a current day’s price to a left-right price and creating a support area and then removing the left-right price, because there was no current relevance to it and using the current price as support
    • The trailing short was then price filtered as a buy and then held for a next price extreme reverse buy that wasn’t filtered

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video382:

  • Renko oil chart trading prices are a left-right price action price, along with a high after the session break that also becomes a price action price when there is a higher high
    • Primary price action is when a previous resistance or support point shifts to a new support or resistance point
    • (a) support = left side resistance that breaks and retests, where it holds-rejects and shifts to support (b) resistance = high after session break BUT instead of shifting to support it breaks again and there is a double reject-shift back to resistance and retains its price relevance
  • Renko price action after I started trading comes from a price envelope reverse buy that is filtered for price and then a price envelope reverse sell that is also filtered because the mex cross has lagged AND although there are additional reverses, they are all filtered for price and/or for momentum and we actually transition into consolidation – these filters avoid 5 consecutive losing trades
    • The first Renko oil day trades is a consolidation breakout trade = midline reject with mex flow and a fast momentum hook that is also a triple break of the consolidation low
  • After trade1 there is another transition into consolidation where the trailing short is held for the consolidation high that is also price resistance – trade2 cannot be done until a resistance breakout becomes a reject with mex flow-fast momentum hook
  • The trade2 buy also has an addon and both trades get partial1 but I did a breakeven exit on the addon, while price holding the trailing initial contracts – discussion of the trade hold and a 2nd addon setup that is later done

Renko Chart Oil Day Trading Strategies

Renko Day Trading Video381:

  • Renko British pound trading price identification coming not from the day before the current session break, but coming from the day previous to that, studying price action across the chart and determining whether the prices are relevant – we start with (a) resistance = swing double top (b) support = a reverse from resistance and a double bottom low after the next session break
    • Support remains clearly relevant because price remains higher than that point – it is the resistance price that is discussed and whether there is price action to keep that on the chart as an inside price, after a breakout to higher highs
  • After the session break, for the current trading day, there is a breakout to lower lows and new support prices [actually happens twice] BUT each previous price has price action that keeps it on the chart as a relevant Renko trading price
  • Renko British pound daytrade1 misses the price envelope reverse for the current swing because I had not started trading yet AND then a midline reject is filtered by support – so the first trade is a support break-reject with mex flow-fast momentum hook
  • Renko daytrade2 = price envelope reverse buy, but there is a price envelope reverse back to sell against the trade – do you go short and/or how do you manage the buy trade?
    • Discussion about holding the buy because the price envelope reverse sell is filtered – the reverse has only 1 brick against the trade and if price would go to support there would only be 3 bricks against the trade
    • After holding the buy there is a discussion about a price envelope reverse swing resumption and doing another buy as an addon, along with the potential of a move into consolidation between the new support price and the previous support price now as resistance

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video380:

  • Renko oil chart trading prices for when start trading (a) shift line support = previous day high breaks out and retests [shifts] to support, before going to higher high (b) resistance = previous day higher high
  • Renko oil day trade1 = price envelope reverse sell, but it was actually the brick after the reverse when I started trading and entered the trade – I didn’t mind missing my entry by a brick [didn’t actually wait for another full brick before entering] AND I was trading through a previous diagonal that had more than partial room to support
  • The price envelope reverse sell went to a double partial and I was trailing for a price extreme reverse, but when it came the buy reverse was filtered for the support-resistance price and since there was 2 partials taken and no addon, there was nothing to do but continue to trail
    • Note that the eventual exit was a price envelope reverse buy that was filtered – the decision was made to reduce giveback and having to trail for 6 bricks to resistance
  • Discussion of a pattern breakout -vs- a Renko indicator trade – price compressed into a triangle along price and the bottom trendline was considered support [filter] for a price envelope reverse sell
    • The eventual trade was a triangle breakout sell that was then followed by a Renko midline reject with mex flow-fast momentum hook addon sell
    • Further discussion about the trades and whether they could actually be done since there didn’t appear to be a next support price on the chart – we went back to the left and found where that support price was and how it was actually on the chart lower than the price area where we were currently trading

Renko Chart Oil Day Trading Strategies

Renko Day Trading Video379:

  • Renko chart British pound price action after the daily low breakout = lower low followed by a retrace to retest the previous low, which rejected and broke down again to another lower low – after the session break there was another break out to lower lows
    • Renko trading prices (a) support = low after session break (b) inside price = previous day low (c) resistance =  retrace high-reject to the daily low – these are what I would consider as being trading prices to identify
  • Renko British pound day trade1 misses any setup in the upswing that started before I began trading, so the first trade was a resistance reject-price extreme reverse sell
    • Note the resistance price double top and confirmation of the retrace high before the breakout to the lower low from the previous day as resistance
  • The price extreme reverse is followed by a price envelope reverse, but the addon is stopped out – discussion of holding the price extreme reverse sell while going flat the addon and then going back short with a 2nd addon, after a resumption trade setup
  • Note the 2nd Renko day trade addon setup, which is one of my favorite trades for doing additional addons = double midline reject, where the 2nd reject is from a lower high with a lower high fast momentum hook that also makes the entry into a triple break – this addon also had more than partial room to support

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video378:

  • Renko chart oil day trading prices are clear from the previous day and price action after the session break (a) resistance = daily high-double top reverse (b) support = retrace low after the daily high that becomes a left-right double bottom
    • Note that a breakout higher high after the session break becomes resistance, making previous support an inside price that is a support price for the first Renko trade of the day
  • Renko oil day trade1 = price envelope reverse sell that gains partial1 at support – Renko trade2 = price break-reject, with mex flow-fast momentum hook and is an addon
    • These trades gain a +4+8+12 exit on the initial trade and a +4+8+11 price extreme reverse to buy
  • The price extreme reverse buy is followed by a midline reject swing reverse BUT the trade is held (a) a resumption sell has no mex flow or fast momentum hook (b) the trade would be filtered by support – the trade is followed by a price envelope reverse buy
    • Discussion for doing the 2nd addon, based on an (a) 2nd midline reject with mex flow-fast momentum hook (b) mex flow only at the middle of the range -vs- near-at the extreme (c) previous swing diagonal that is well more than partial room to next resistance
  • The Renko buy[s] are reversed with a price extreme reverse and go to support, where there is a price extreme reverse BUT no buy is done and only a 2nd partial is taken
    • There is no price extreme reverse buy because both of the mex lines are not below the extreme line, which is a parameter to the trade – this is followed by a midline reject-price failure break resumption that becomes an addon because there is a fast momentum hook + mex flow

Renko Chart Oil Day Trading Strategies

Renko Day Trading Video377:

  • Are the Renko British pound trading prices that were used for the previous day’s trading, still relevant for usage today – resistance is for sure, because we never traded back to that price, but what about the inside price and support price?
    • Discussion of previous trading prices and price action that occurred, about whether there are ‘better’ prices or whether there is price action to retain the existing prices
    • I will always want new prices that are outside of the current trading range if/when we trade back to them – but for prices that are inside or at the current range extremes, I want price action prices that are closest to the current session break
  • When beginning trading, I missed 2 trades in the current swing and was deciding about trading a pattern breakout trade = M pattern triple break sell with room to support – I didn’t do the trade because of a lag in the mex cross but it was profitable, which is the basis for a trading pattern setup -vs- a Renko method trade setup
  • Renko day trade1 = midline reject with mex flow-fast momentum hook that is also price failure break – trade2 = midline reject-price reject with fast momentum hook and flatter mex flow
    • When considering this trade and mex flow at the time, the key decision point was having the Renko trading price as a setup component – also note the price action for both of these 2 trades as confirmation of the price action relevance of the trading price
  • After getting a +4+8+12 exit gain on the initial, there was a price extreme reverse that gave a +4+8+15 profit on the addon that also minimized giveback at 2 bricks – the key to the addon profit was a previous price extreme reverse that was filtered and the trade held, with that price continuing to hold as resistance for multiple bricks and rising mex

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video376:

  • Renko British pound trading prices before-after current day session break (a) resistance = left side double top resistance-reject as support breaks out again and shifts back to resistance (b) support2 = left side double top that breaks out and shifts back to support
    • (c) inside price = left side and right side double bottom that is also double bottom after session break and becomes support1 – discussion of distance between support1 and support2 being a potential problem, but each of the prices is ‘too relevant’ not to have on the chart
  • Discussion of trade swing right before I began trading = (1) resistance reject-price extreme reverse sell (2) price envelope reverse addon sell – the trades continued to +4+8+11 | +4+8, what should be done when the first trade available after begin is then a price reject-midline reject entry?
    • In this case, the trade was filtered so no issues BUT looking at the distance price has already moved [looking at the setup in the context of the existing swing], along with the mex extreme and fast momentum lag, I would not want that to be my first trade
  • My trade1 = price envelope reverse buy that only goes to partial1 and ‘half-way’ through previous swing diagonal AND then price goes into a compression triangle, while ‘straddling’ support
  • Discussion of the compression triangle (a) trades that are avoided because of price and/or momentum (b) trade taken that is viewed as a compression triangle failure break-price failure break sell

Renko Chart British Pound Day Trading Strategies

Renko Day Trading Video375:

  • Renko chart oil day trading reviewing prices that are already on the chart and whether they are relevant, along with the adding of new prices as trading goes outside the open range
    • (a) left side double bottom-triple bottom breakout remains resistance until the current trading day where it is also a double top high after the session break (b) support1 previous day high2-double top [resistance] that tests-rejects as support into the after session break high
    • (c) when support1 breaks it shifts to resistance and also a centerline to the outside resistance and the next support price that was the previous day initial high that held as a swing double bottom
  • Renko oil trade1-2 = 2 midline rejects with mex flow-fast momentum hook – the trades both get double partials and are held because a price extreme reverse is filtered by the support1 break and shift to resistance
  • Renko trading trailing management discussion – taking an exit on strength after +4 +8 +11 [-vs- +12] because of mex ‘buried’ at the extreme low and the risk-reward was 1 more brick of profit -vs- 4-5 bricks of giveback – note that doing this was a profit exit on 1 of the trade entries and not the position
  • Discussion of 2 back-to-back losers when there is a price failure break trade setup that does not continue – the next trade is a price envelope reverse buy above the price after a double bottom that becomes a winning trade

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video374:

  • Renko chart trading price and support for trade1, comparing a left-right price to a breakout price from the previous close (a) across the chart there is a high after session break-double top daily high that is a multi-day high, until (b) a closing breakout of the high that goes back down to the left-right price
    • The price described was tested twice and rejected as support into when I started trading – the significance of the left-right price relevance and the right side price action had me use this price -vs- a breakout 3 bricks higher
  • The opening trading resistance price was an after session break high-double top – there was a resistance price and support price to begin trading but no centerline, which had significance for how the opening swing was traded
  • Renko British pound trade1 = support reject-price envelope reverse buy, with a midline reject-mex flow + fast momentum hook addon setup BUT the addon was 1 brick into the high and considered filtered
    • NOTE that if this same setup was right into a centerline double top, so it was a triple top breakout setup, then I would have tried the addon -vs- price filtering the addon because it was into an extreme price [resistance] high
  • The price did breakout to a higher high that became resistance, making previous resistance shift to support1 that was also a chart centerline – discussion of trading this line as a consolidation-price failure breakout when it was a centerline -vs- the addon trade that wasn’t done when the price was an extreme price

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video373:

  • Renko chart trading prices (a) resistance = left side double top that was a support-resistance shift line and continues as resistance (b) support = swing double top that became a resistance-support shift line and continues as support
    • Are there any additional Renko trading prices and if yes, how would they affect the beginning trading?
  • Renko British pound trade1 = price envelope reverse + midline reject-mex flow and fast momentum hook BUT what about the initial high after the new trading session and is that a trading price – consider the price action
    • (a) Renko resistance-support shift to session high (b) reverse and resumption = previous high breakout to higher high (c) previous high shifts to centerline support – the trade1 setups[s] are filtered and avoided for this price
  • Renko trade setup -vs- a chart pattern setup – a price envelope reverse would be filtered for the centerline, but a bigger wedge pattern has developed across the chart where the trendline breakout could be used as the centerline failure breakout
    • I have to view this as a discretionary trade because of the Renko trade filter, but I have a basis for continuation on the pattern breakout setup that would have 8 bricks of room if the price would continue to the top of the wedge pattern diagonal

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video372:

  • Renko British pound day trading and moving back to the previous day, looking at the swing that ‘pushed’ me to trading oil instead and locating the Renko trading prices that were used
    • Resistance was ‘simple’, as it was a double bottom low from the previous day and shifted to a support-resistance price action reject – the remaining prices were not as clear until there was additional trading and price action, because there were no left side prices to use
    • (a) what became the center line was not typically a Renko trading price, because it was simply a swing high ‘pivot point’ BUT in this case, there was continual price action in this area across the chart (b) support was a swing double bottom that also had 2 reject price action tests
  • Renko trade1 = a midline reject-mex flow and fast momentum hook sell, but note that this was actually the 2nd addon to the price envelope reverse – it did get a partial but then a breakeven exit
    • This made a big difference to profitability compared to having started trading at the time of the price envelope reverse + addon1, as support continued to hold and price moved sideways across this ‘base’, with little movement up
  • Discussion of multiple trades that at best gained 1 partial and a breakeven exit but turned the period negative after 3 consecutive losses – again holding support when short but 3 Renko bricks of room to give an entry AND no move up, even to a previous lower high that missed going to resistance during the previous trading — reading these issues, you can see how price actually transitioned into consolidation
  • Another support hold and there were no more Renko trades until a midline reject-mex flow + fast momentum hook AND some indication of price continuation and then an addon that was a consolidation breakout setup [midline reject with mex-triple top consolidation breakout – finally there was continuation and a move all the way to resistance and turned the losing period nicely profitable
    • Relatively small losses and management for breakeven when profitable -vs- bigger profits and larger size on the ‘best’ Renko trades with continuation

Renko Chart British Pound Futures Day Trading Strategies

Renko Day Trading Video371:

  • Renko chart oil trading – WHY oil – because the British pound had just sold off over 1 point and there was no way to enter on a midline reject because of momentum and the first potential trade was a price extreme reverse
  • Renko oil trading prices (a) resistance1 = left side double top (b) support1 = left side-after session break open low double bottom (c) we got a resistance2 after the session break on a breakout to higher highs – turning resistance1 into a center line
    • Discussion about retaining established prices because of price action and/or how trading kept going back to the prices -vs- continually trying to and/or looking for trading price adjustments
  • Renko oil trade1 = support failure break to price extreme reverse buy = Renko trade2, which was held for a resumption trade because it was filtered by support
    • The price extreme reverse then had a price envelope reverse addon buy – both buys were stopped out without partials and the loss was greater than the 1 partial from the trade1 sell
  • Discussion of price then going into consolidation and there was no trading until a consolidation breakout, followed by a midline reject-mex flow and fast momentum hook continuation – there was then another midline reject that became an addon trade
    • This time the initial trade + addon trade continued to a +4 +8 +12 exit AND a +4 +5 + 12 exit – discussion of why the +5 profit was taken after a price extreme reverse that was filtered as a trade

Renko Chart Oil Futures Day Trading Strategies

Renko Day Trading Video370:

  • Renko chart British pound trading price[s] from the left of the current trading day that is on the chart – have they retained their relevancy or should they have been replaced?
    • Trading 5/25 has prices from 5/23 (a) double top-triple top breakout [middle chart line] breaks out but then shifts to resistance – breaks again and shift to support AND has 2 more similar shifts at the price (b) double hold-swing reverse into the price action that shifts the middle price from resistance to support
    • (c) And from the price action shift, we cross the session break and make a high – all prices show price action relevancy BUT should there be any different prices on the chart
  • When I started trading I have the price (b) on my chart as support but there has also been a double bottom after the session break above this price – depending on whether you used the left-right price discussed, you may have the double bottom as your support price
  • Discussion of beginning trading depending on where your support price is located and the left-right support price -vs- the price after the session break – I understand that the case for both prices but do like being able to move a Renko trading price across the chart and see continued reactions in the area
    • If left-right support (a) price envelope reverse + midline reject with mex flow-fast momentum break addon (b) price extreme reverse + price envelope reverse addon
    • If after session break support (a) price envelope reverse + midline reject with mex flow-fast momentum break addon (b) price envelope reverse but no price extreme reverse initial trade [so no addon] because it was filtered – all Renko trades are profitable but a +4 +8 +12 gain is missed
  • Discussion of momentum in 2 Renko trades (a) after a ‘large’ buy trading swing and sell-buy resumption, there is no buy until a midline reject because of mex lag (b) when there is a potential 4 brick midline reject addon, the trade is not done because the chart read is into a price momentum divergence

Renko Chart British Pound Futures Day Trading Strategies

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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