Emini Dow Day Trading Renko Chart And Tick Chart Replay

We are going to discuss emini dow day trading setups and trade management, by using renko chart and tick chart market replay.  Beginning with the right side of the 2 charts, do you see the synced components for a base emini day trade setup?

  • Yes, if we get a red midline brick followed by a green reversal brick
  • With a fill of around 16105 and target1 at the channel high 16121 from the previous reverse
  • But let me say that I don’t like trade setups like these – because I really don’t know where to price hold the trade
    • So, I will take the trade if it occurs – watching the 16093 area, with the key being a quick breakout to the target
    • This is why we care so much about mex flow build on a retrace – it does tend to lead to quick breakouts
    • Long 16107 – entry on the 180 tick chart

Emini Dow Day Trade Setups

Emini Dow Day Trade Setups And Management

(1) 16122 partial1 on the break

  • I took the partial because of the open and didn’t want to worry about chop
    • 16108 breakout area would shift to support
    • 16148 next target

(2) 16129 partial2 on momentum extreme

  • 16121 area shifts to support
  • 8:31:07 – didn’t do an add because of momentum

(3) Sync chart setup

  • 180t ttm –vs- mex flow
  • Short 16116 on 16121 break
    • Watch 16086
    • Clear price initial risk using the lower high into the trade
  • 16091 partial1 – 16083 partial2 – 16102 flat

(4) 9:00 buy – is there a momentum extreme?

(5) V reverse up after exit

  • No trade setup to go long again – period ends with 180 tick pmd high

Question:  With price testing the 16121 area that we have been using as an across the chart price AND doing so as a pmd high – what are your scenarios for the next emini day trade?