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
Zigzag
by PRASHANT SHAH -
Let’s now discuss the zigzag pattern which is a relatively complicated price pattern that gets simplified by using Renko charts. Zigzag is a pattern that shows indecisiveness. We have already discussed how the Renko chart reamins static if the price consolidates for many days without any significant move. If, however, the price action triggers plotting ... Read more
Reversal and Pullback Patterns
by PRASHANT SHAH -
Breakout patterns discussed so far were relatively simple to identify. A proper understanding of those setups will help you to better grasp the concepts and patterns explained in this section,which are relatively more advanced. Before considering reversal patterns, it is important to understand the difference between continuation and reversal patterns. Continuation patterns are those that ... Read more
Strike-Back Pattern
by PRASHANT SHAH -
We discussed the swing breakout pattern earlier. In the case of reversal patterns when the price moves back into the swing breakout territory, it is an early sign of a potential trend reversal. When bulls or bears strike back, it is an early indication of a potential reversal. A little further research helped me formulate ... Read more
