This video was actually going to be a trading strategy reference video to answer a trader’s question about a renko trade setup. But instead I started while I was trading, because I was using a price action price that was related to the question – the video then goes back to discuss where the price came from and why it was relevant for an extended trading period.
Price action prices are chart price areas that are important for trading, because they have tested and rejected as support and/or resistance multiple times. This video will discuss 2 price action prices that were used to avoid losing trades, as a price failure entry for a winning trade, and as a partial profit target.
This is another emini russell day trading video, discussing the importance of using a combination of renko charts and tick chart. I especially like the chart period discussed, because it gave an opportunity to discuss chart reading for price and price action in our trading method – along with using chart price for filling the renko trade setups for any underlying.
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