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
Swing Engulfing
by PRASHANT SHAH -
I have borrowed this concept of engulfing from candlestick chart patterns. A bullish engulfing candle is one where the current price completely engulfs the body of the previous candle. With Renko charts, we plot a series of bricks which show price swings. When a swing move completely retraces the previous move, which was a swing ... Read more
Examples of Renko Pattern Analysis
by PRASHANT SHAH -
While explaining every patterns, I have clearly discussed the entry and exit rules for each pattern, pattern failure levels, and even extensions. Trade setups can be easily designed based on this information. It is not necessary that you need to apply extensions from all the patterns that we have discussed. What follows is a summary ... Read more
