Good one TP :lol:
Still at the learning stage, so observing how 1M Renko behaves while watching 5M Candlestick chart.
My comments on combination of Renko/Candlestick chart :
1. Today was a strong up trending day. No reason to go short on stock - though 3 fakey bars appeared to break the low of the 1st 5M bar in Rel. Com. In plain speak, this stock was an 'avoid' in my view as it
almost never broke the 1st 5M bar, and was 'inside' day.
2. The 3 Breaks of 1st 5M bar lows are all fakeys.
(Easy to comment EOD - but as said, never any reason to look for shorting in today's up trending market)
3. Instead of Rel. Com which was 'strong' as wet cardboard, why not look to trade a more 'liquid' index? Or even stocks that had clear breakouts? Moreso, when they are clearly trending?
4. Trading Rel. Com based on today's chart today would be would be akin to betting on a limping horse when it is clear which of the the horses are leading the race. :lol: Why would you even trying doing that?
5.
Renko chart of Rel. Com did not provide any signal to trade.... how could it? It was telling you to not take the trade - in my view
6. Attached candlestick chart for reference for comparison :
Sideways : 1min Renko chart of Rcom today. Try trading that