A type of chart of Japanese origin that is constructed utilizing price movement rather than price and predefined time periods (daily, hourly, 15-minute...) as other charts do. Given that the chart resembles a collection of bricks, it is believed to have been named after the Japanese word for bricks, renga. Each block is positioned at a 45-degree angle (up or down) to the preceding brick, and a new brick is produced when the price changes by a predetermined amount. A usual color for an up brick is white or green, whereas a common color for a down brick is black or red.
The market has been range bound for the last few weeks with volatility on the decline, and earnings all over the place. So where to go to look for a trade? Nike has already had Earnings and is near a low of the year, so seems like a good option. As a contrarian that can mean only one thing to me: I have to make a trade with the assumption it will go up from here over the next 45ish days. We will do that by making a Long Call Vertical trade to bet that it starts to head up over the next couple months. For more on my trading and how to join me in real time, see below. Watch the video to get the details. Kal Trading Risk Disclaimer All the information shared in this video is provided for educational purposes only. Any trades placed upon reliance of SharperTrades.com are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, commodities, options and forex, there is also substantial risk of loss. All tr