Renko Chart And Tick Chart Trading Market Replay Training

We are going to start this emini dow day trading training and market replay video, by looking at the renko 4 brick1 chart.

Before I get started, let me mention something really cool about the NinjaTrader market replay tool.  When you do a replay of your data download, your tick chart, brick1 chart, and brick2 chart will all move together – this is a very real time feature.

Emini Dow Market Replay Training Video

(1)  Brick1

  • Do you see a 4 brick setup – this is a real time look before the brick completes and the green brick low becomes the previous brick high
  • 180 tick
    • You can see how the breakout low to the swing low is setting up to fail on a break2 with mex flow
    • It looks like you could go long on the break at 16406 – but there are 2 things that bothered me
      • Taking this first buy after a 65 point sell
      • The 16413-16412 triple break-break2 that just rejected – I look at that price action as more relevant than that single 16405 channel break

(2)  Brick1 – this became the buy setup at 16410

  • I liked getting to see the continued mex flow build and have the triple break-failure break entry

(3)  180t – 16433 shift line double top and momentum extreme = 16433 partial1

  • Brick1 – show what partial looks like
    • 16454 high next target
    • 16412 area from buy breakout is best price hold
      • But would look for price envelope reverse – don’t want to throw away trailers

(4) 180t – 16441 and 16437 partial2 fill

  • Why here – this is a function of the extended pmd high and mex still looking to cross
  • Hold has been raised to  16421 area from the pmd counter point – and still looking for renko reverse

(5)  180t – still trailing

  • Brick1
    • If 2 contract trader – would be flat after mex cross and lower high green brick-midline break
    • If 3+ contract trader – this would be another partial but still trailing
      • Why since price envelope reverse?
      • If I didn’t go flat at the previous red brick low, then I want to see if that brick and what I am seeing on the 180t will hold and resume upswing
      • NOTE:  there are all components for renko sell setup – watching to reverse out of the long and go short if get the green reject brick-red reversal brick combination

(6)  Brick1 – no sell and move back to swing high but it held

  • Price envelope reverse again and now don’t have a reason to be long
  • Exit 16429 – looking for sell setup that will be able to use the support triple break
  • Brick2
    • But there was a brick2 sell setup and reversed 16427 fill
    • Syncs with the brick1 price envelope reverse and the 180t has also reversed into sell

(7)  Brick2 partial1 16414 – why here

  • Remember the price action price at 16412 and where the previous buy breakout was – because this becomes a shift line I decided to take partial1
  • Hold goes to 16421 area from the triple break

(8)  Brick2 addon

  • There was an addon setup that I really liked and should have taken
  • Midline reject and 16421 price shift-reject – clear mex flow on the 180t and brick1
  • And I was more focused on the brick2 mex rollback – and missed the trade
  • Partial2 16400 swing low and 16403 fill

And this is where I am going to end this video – I will continue with trading from this point forward in another replay video.

Continuing to hold this trade to the 16421 area is the logical price, but a lot more giveback than I want.  I might have done this I did the addon and had the extra trade profits, and didn’t get a buy reverse setup – but not with only 1 unit left.

So, at this point I want continuation to a next target price of 16389, which was the low price when we started – and I will be looking to hold this trade to the 16412 price area we have been discussing.