This simple Renko chart on NQ100 is used to gauge next day sentiment prior to major announcements. I view it around 11 p.m., and if the Renko Bar changes color, that's a pretty good indication on how the market will open. Of course, this chart should be used in connection with other bias indicators to confirm direction. Simple is sometimes best!
A recovery for BYND ?
With the break, today of this level we can maybe go back to the green line which is an interesting level.
But why "neutral" on this level ? Regarding the context and the company fundamentals, I'm not confident on this.
Possible short term trend of BTCUSD. Stoch, TSI, and ADX look to be positive but would need a break about 7000 and out of the triangle that began forming mid March to continue up (daily renko set at 250blksz and ohlc)
This type of pattern appears on the troughs, it is a bullish reversal pattern.
The break in the resistance line definitively validates the pattern.
The price objective is determined by the highest point at which the descending broadening wedge was formed.
NB: often, the steeper the descending broadening wedge’s trend lines, the faster the price objective is...