In the final US day trading session for 2020 we focus on the primary indices of the Dow, the Nasdaq, and the S&P 500 ahead of the year-end and more importantly the introduction of Tesla into the S&P 500 at the end of the week. The impact of this cannot be underestimated is likely to lead to some volatile price action as a result.
One of the most powerful ways to day trade is by using non-time-based charts such as Renko and tick as these types of charting reveal the momentum in the price action which is not revealed in time-based charts. This is because non-time-based charts, as the name implies, do not rely on time for the candle or bar to close, but the tick or brick which is independent of time. Using three charts is powerful when combined with time-based charts which then blend volume price analysis into the equation. So the best of all worlds and here we show you how.
So be prepared for an exciting end to 2020.
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