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27.06.2015 admin
When I first discussed using renko charts for emini russell day trading, I compared the renko charts to the tick charts we have been used for trading. And although my primary focus was on the addition of the renko charts to our trading method, we were also talking about trading with multiple chart types.
My intentions are not to replace tick charts for day trading the emini russell – but to trade with a renko chart and tick chart combination that can be beneficial for increasing our price and chart reading clarity. The tick charts are critical to our day trading chart reading, because they show us real price.  And we cannot trade our method without price – and although we may have a terrific trade setup, the trade will not be taken if it is directly into a left side price, because the trade will not have a profit component.
And this is what the combination of multiple chart types is intended to do – they further increasing chart reading and trade setup clarity, over what either chart could show individually. When we did the etf position trading multiple time frame chart video, we discussed a time frame chart and renko chart combination.  And there would be multiple time frames depending on the renko brick size selected, the multiple chart types gives an additional benefit. Let’s now look at this chart period on the renko chart and see if there is a synched sell setup, along with what the rest of the period looks like. The point is to use these 2 charts in combination for further chart reading clarity – not only trade when there is a trade setup on both charts, although that would be my preference.


I am not going to continue with the renko chart trades for the rest of the day, and then we will go back and look at the 240 tick chart again. I mentioned a combination of a fast and slow tick chart, like I have used in the past – in the next video, I want to show you this same trading day using a faster renko brick chart. Let’s go forward with our discussion on trade management and day trading the emini russell futures, with the combination of a renko trading chart and tick chart. You will remember the current chart, from the end of the first emini russell futures day trading management video.  We discussed the yellow dot renko chart trade, and how the blue lines on the 240 tick chart were established for the initial risk and first partial target. You can see the link to the first trading video, and if you haven’t watched it yet, then I would suggest you watch it before continuing with this video.
I now want to go forward and discuss the 240 tick and renko charts, for the remaining emini russell trades and trade management – let’s first look at the 240 tick chart, since that is where we will best fine our relevant price points. Now let’s look at the renko chart and how it synchs with the 240 tick chart for the trades and trade management just discussed. The ‘power’ of addon trading for these extended trading swings is extremely important – we want to get a profit relative to the potential.


Addon trading is especially beneficial, when you consider the days when you get tight ranges and very little to do, or the times where the best trading swing is a renko price envelope reverse that never has an actual trade setup. That ends the 2nd video discussion on emini russell day trading management and using the tick chart and renko chart together – long and trailing the initial buy and addon buy. Another Emini day trading example today – combining volume patterns and cycles on tick charts. Filed Under: Tick ChartsRelated Feature Article5 Compelling Reasons to Use Tick ChartsTick Charts are one of my "secret weapons" and here's why.
The Low Volume bar on a tick chart showed the average trade size was small and the Amateurs were hoping for a break to new lows.



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