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
Brick Values for Short Term Trading
by PRASHANT SHAH -
Brick Values for Short Term Trading For shorter term positional trading, I would recommend brick values between 0.25% and 1% on daily time frame charts. Let us study some examples. Below is a daily chart of Yes bank with a 1% brick value. Trend line and extension analysis on a 1% brick value daily Renko ... Read more
Brick Values for Very Short Term Trading
by PRASHANT SHAH -
Very short term trading, such as intraday trading, requires a special skill set. There is so much noise from minute to minute that it is so very easy to get led into overtrading. The best advantage of Renko for very short term trading is that such charts reduce the number of trading signals. For very ... Read more
Index Trading
by PRASHANT SHAH -
A stock and an index are different in terms of their underlying volatility. An index captures the price of many stocks. Typically, stocks can easily see a daily price movement of 5% to 10%, which however is very rare for an index. A stock can get delisted if the company concerned goes bankrupt, but an ... Read more
