sfhenderson17

$AAPL renko update

NASDAQ:AAPL   Apple Inc
Printed another red brick there, in the range of a previous support/resistance now

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Thank you Renko papa
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u think this will break up now?
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sfhenderson17 spikerusworderu
@spikerusworderu, If I were going to do this again, I probably would have taken the risk/reward on the last brick to the downside and closed out now. I think at this point there is a potential support that I would wait out. Renko is new to me so I'm going to chart a little more before trading off of it.
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@sfhenderson17 , thanks for sharing. Are you trying to validate the efficacy of using RENKO to establish S/R? If so, I like it ;).
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sfhenderson17 chiefwils0n
@chiefwils0n, Yes, exactly I am tracking a few tickers to see how this chart does vs traditional technicals on a bar chart. It is supposed to filter out the noise and simply show trends. If we were back in September, the second red brick would have indicated a downward trend. Here, however, we have a downward trend, but happen to be at a previous support with that January 4th red brick so I would not yet use it as a short signal. But it will be fun to track and get a feel for it.
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