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
Two-Back Patterns
by PRASHANT SHAH -
Two-Back Pattern When a trend resumes after a small correction, it indicates that the underlying trend is strong and thus provides an opportunity to initiate a trade with an affordable risk. Two-back is a pattern where a swing breakout occurs after a correction of just two bricks. Below chart illustrates a bullish two-back pattern. As ... Read more
