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Renko

Need to reclaim 45kMy 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 enough interest in this post I will happily explain the strategy I deploy and post more intraday trades. Have a great Q4 :)
COINBASE:BTCUSD
by jcrule
1
GBPUSD/GOLD Renko Aug 13th Analysis/TutorialGBPUSD 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 hasn't closed yet you will notice there will be a light shade of the box. Once 15 min closes the box will be set in stone on the chart. 15 min renko on 10 pips matches 1H candlesticks in a sense as far as movement. At the bottom you will see I also have the Stochastic RSI indicator which can help identify divergence. Stoch RSI setting is default. Bollinger band setting default and i have the 50 ema added on as well. Traditional Renko can help identify trend easier and help with SL/TP at your discretion. Also used on GOLD (XAUUSD) with same settings and box set at 20 pips (2). Following a 10 pip/20 pip a day trading plan can be beneficial with these settings if you enter correctly. Less eye traffic with renko compared to candlesticks. Personally like to use 15 min. Analysis- You can see divergence and double bottom formed on multiple time frames. Expecting price to break down trend and reach 1.39500.
by JasonFosterII
doge renkos daily 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 value. Will this trend continue? I've road two highs now with Elon Musk Intervening both times. Plus the market making opportunities when It trades at high volatility don't hurt Will we see continuous market manipulation, and explosive behavior again In time In regards to dogecoin. I think the trend will continue.
BINANCE:DOGEUSD
by Cryptohustler247
Seeing Machines chart update - renkoRenko chart is extremely clear on the 4h eliminating all the messy ranging moves. It was a clear buy since 26 Oct again on SEE when renko started to tick up already, today move is just the proof. Targets are still the same as originally described in my previous post. Current ABC move ends around end of 2021, by then this share will be in multiples of current SP. The only surprise can be that instead of ABC it will be a Five move up with even bigger impulse. Easy 10 bagger in a year. Without even talking about its fundamentals.
LSE:SEELong
by tempertrade
Time to prepare shortsGetting 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 thought to be named after the Japanese word for bricks, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
EURONEXT:INGAShort
by CryptoPhobiq
Waiting for uptrend confirmationExceptional 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, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
RLong
by CryptoPhobiq
Galane Gold (GG) confirming reversalSlowly 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 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, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
TSXV:GGLong
by CryptoPhobiq
1
Waiting for uptrend confirmationCurrently waiting uptrend confirmation. As soon as SMA10 is crossed and OBV keeps its vector upwards long postions can be taken. Expect confirmation in the 28-29 range. 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, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
EURONEXT:FLOWLong
by CryptoPhobiq
Barrick Gold to bottom out at $21.95Barrick Gold has room to cross its resistance at $22.90 and continue its down trend to $21.95. OBV continues to go down as well, indicating no reversal at this stage. An uptrend is confirmed as soon as the Renko block crosses SMA10 and OBV indicates an uptrend. Looking forward to your comments. 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, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
NYSE:BShort
by CryptoPhobiq