Over the past few days, volatile price action in the euro currency has highlighted how using a Renko chart can help us deal successfully with such market conditions, and the pair I want to focus on is the eur/cad. Yesterday the euro had a good day with strong up moves across its matrix, but this was ahead of today's important ECB meeting. Whilst the bank raised interest rates as expected, the accompanying statement resulted in volatile price action and a fast move lower. Rather it was what was not mentioned in the statement, as the ECB removed
any reference to rate hikes continuing at the next 'several' meetings. The 15 min and Renko charts above capture this moment for us.
By Anna Coulling
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https://www.youtube.com/watch?v=Q56dIbUtIgQ&ab_channel=QuantumTradingIndicators
An interesting forex session in which there was little activity in the London session was confirmed by the low numbers on the hourly matrix chart as traders awaited the CPI releases in the US. Whilst this is not the FED's preferred inflation metric it nevertheless gives the market some insight into how fast inflation is rising.
Despite the subdued London tone, there was a really nice trade in the eur/cad. Indeed, the cad is very much the currency to watch and it often moves quite strongly outside of his natural timezone. The trade setup was on the 5 min chart as a break away from the volume point of control and S3 on the Renko with a reversal then coming on a bullish engulfing candle. The reversal saw the pair move back to the S3 so a round trip ahead of the release.
Meanwhile, Gbp/jpy was also in focus with a reversal on positive US market sentiment - as we can see...
In this video taken from the live webclass, we explain the importance of trading using non time based charts, and how to arrive at the correct settings for your tick or renko charts on NinjaTrader. And see the trade develop as the NQ emini sells of delivering an excellent trade to the short side as a result.
https://youtu.be/ot5QxqwmrWM...
In this part of the forex trading session I show you how to trade forex using the renko chart on the NinjaTrader platform. And in addition, you will discover the importance of using the trend monitor and trends indicators using this approach.
https://youtu.be/37uQVAhYhvQ...
Volume signals don't come much better than this in the afternoon trading session for US futures, with the stopping volume clear for all to see!
https://youtu.be/B4Qj9bUrvgU...
In this video during the London forex session, we explain how to use the renko indicator for MT5 to trade using non time based charts which reveal momentum.
https://youtu.be/4JdN7BbWpp0...
Using the renko optimizer indicator for NinjaTrader in combination with time-based charts is a powerful way to trade. It blends the volume price analysis methodology with the benefits of trading a non time-based chart such as renko which reveals moment as risk sentiment ebbs and flows.
https://youtu.be/2TapALMqzF0...
In this video you will discover how to scalp emini index futures on the NinjaTrader platform using multiple versions of the renko optimizer indicator. It is a powerful approach and when used in conjunction with the equivalent time based charts also gives you the option to apply volume price analysis to the trading decisions.
https://youtu.be/rXbHGiKo1Vo...
Trading index futures using non time based charts is a great approach as it smoothes out the price action, but here we blend this approach using multiple charts and with time charts also.
https://youtu.be/HhY-z-Js5X0...
