Bibliography
by PRASHANT SHAH -
— Aby, Carroll D. J. Point & Figure Charting: The Complete Guide. Grinville, SC: Traders Press Inc., 1996. — Bollinger, John. Bollinger on Bollinger Bands, New York, NY: McGraw-Hill, 2002. — Bulkowski, Thomas N. Encyclopedia of Chart Patterns. New York, NY: John Wiley & Sos, Inc., 2000. — Carney, Scott M. Harmonic Trading, Volume One: ... Read more
Swing Breakout Patterns
by PRASHANT SHAH -
In the previous chapter we discussed how all the conventional chart patterns are workable and relevant on Renko charts as well. In this chapter, we will discuss patterns that are unique to Renko charts. The formation of bricks is a unique feature of Renko charts which no other chart category possesses. The different combinations of ... Read more
Multi-brick breakout patterns
by PRASHANT SHAH -
Let us now consider multi-brick breakout patterns. We discussed double top and triple top resistance and double bottom and triple bottom support patterns in the earlier chapter. Multiple bricks at the same level represent an area or zone of either support or resistance. When the price breaks out from those important levels, it triggers a ... Read more
Options Trading
by PRASHANT SHAH -
Options are a useful derivative instrument and they can be traded using technical analysis without having to understand the Greeks associated with them. Renko charts of options can be plotted and every Renko technique that we have discussed is applicable on them as well. One way to trade options is to form a view on ... Read more
Trading asset classes
by PRASHANT SHAH -
Trading Commodities, Currencies, etc. Renko chart analysis is possible on all types of markets and instruments. Below is a 0.25% brick value chart of MCX Gold shown with extensions filtered with a moving average line. 40-brick exponential moving average and extensions on a 0.25% brick value daily Renko chart of MCX Gold. 40-brick exponential ... Read more
Invalidation or Pattern Failure
by PRASHANT SHAH -
Since one trades in order to make money, it is not unnatural for traders to want every trade to be profitable. This is, however, not possible in practice. In fact, if you ask any successful trader, he’ll tell you that his number of losing trades is much higher than the number of winning trades. The ... Read more
