My initial thought here is that we need to push through previous reversal bricks to eliminate retesting Aug lows before the parabolic run.
I have mostly stayed out of leveraged positions during this chop and I am patiently waiting for more conviction. I will continue to long dark blue reversals and short the dark reds with divergence confirmation.
If there is...
Renko chart is used for better price action entry. To the right is 30 min chart showing bearish divergence. Once price closes below 1784.483 expecting price to reach 1766 area.
GBPUSD chart is setup with traditional renko and each box is 10 pips (0.001) in settings. Added the renko reversal alert to be notified when reversal happens. If you are not familiar with traditional renko each box won't close until the right pip amount is moved and the time frame closes with that pip amount.
So for 15 min. If price moves 10 pips up and 15 min...
The head and shoulders pattern is one of the most reliable trend reversal patterns.
The distance from the neckline to the head is the same for the retracement from the neckline to the bottom.
In this case, using Renko candles to understand better the H&S chart pattern, the price target is 31usd.
This is just an analysis and probability.
in the Bitcoin Renko model. Each time A Shape appears like a Reverse hammer at the bottom of the chart. The bitcoin trend has been upward.
Each time a Shooting Star appears on the floor of the chart. Bitcoin trend has been declining.
Sometimes a Hammer appears at the bottom of the chart after the Reverse hammer And bitcoin...
USDJPY is giving a positive signal for long position for the next 24-36 trading hours and I am expecting it to hit the resistance level of 110.70 within this period of time. As per my Renko strategy the green bar is above 10 MA and the OBV pointed up. RSI and Stochastic also rising from the oversold position upwards, which is a great confirmation for Buy. Stay tuned guys!
Despite being a firm supporter of technical analysis with the bar chart or candlesticks, the management of the position, entry and especially exit, I have been doing with brick renko for a few years, with CLEARLY superior results.
This is because price is the thing that matters most in trading.
Renko bricks have the great advantage of eliminating background...
What could go wrong? Doge Is going to get pumped up again In time. Let's face It the people want It. With yesterdays pumping and dumping and Elon Musks Intervention with BTC, I know things worked out nicely for me. Now I hear doge Is offering defi as a service. Which Is only relevant because dogecoin has some purpose for the first time other than a store of...
Getting ready to cross the SMA10 on the Renko chart, having OBV trending down. Once SMA10 is crossed and OBV continues down, there will be great short opportunities.
About Renko Charts
A Renko chart is a type of chart, developed by the Japanese, that is built using price movement rather than both price and standardized time intervals like most charts are. It is...
Exceptional OBV uptrend can rocket RSLV cross the SMA10, towards CAD 2.35. Looking forward to your feedback.
About Renko Charts
A Renko chart is a type of chart, developed by the Japanese, that is built using price movement rather than both price and standardized time intervals like most charts are. It is thought to be named after the Japanese word for bricks,...
Slowly crossing up the SMA10 and OBV showing a light uptrend. If volume picks up, the uptrend can be confirmed. All starting to look good with potential at CAD 0.57 level. Don't ask me when, Renko doesn't give such answers :-). Looking forward to your feedback.
About Renko Charts
A Renko chart is a type of chart, developed by the Japanese, that is built using...
