Monthly
Monthly with Fibonacci Retracements from 2007 Highs
Monthly with Fibonacci Retracements from 2007 Highs
Weekly
Daily
Two hour
Hourly
5 minute
I don't want to say too much about these charts, leaving much of that observation and the "ah-ha" moments to my readers. But I must comment on the two trading systems, which as you can see, identified the dominant trend for every time frame with amazing consistency.
Finally, the second chart applies Fibonacci levels from the all time highs in 2007 to the March 2009 lows. These levels reveal the 2009 rally as about a 38.2% retracement of the 2007-2008 decline, so far.
A
Two hour
Hourly
5 minute
I don't want to say too much about these charts, leaving much of that observation and the "ah-ha" moments to my readers. But I must comment on the two trading systems, which as you can see, identified the dominant trend for every time frame with amazing consistency.
Finally, the second chart applies Fibonacci levels from the all time highs in 2007 to the March 2009 lows. These levels reveal the 2009 rally as about a 38.2% retracement of the 2007-2008 decline, so far.
A
6 comments:
I m new to using the Renko charts, I was of the understanding that time was not a factor. Just price action which is determined by the height you set each bar to represent in terms of price movement. If so, how do you configure your charts on the different time frames for Renko....tia
It is the height which is preset, the price movements are simply inputs which are parameterised (as in any chart) by a chosen time frame, eg. with Renko if price movement reverses within given time frame no box is drawn..
JG
I hope Allan or someone else will supply a lay person's interpretation of the charts and what is indicated in the near future. TIA
Max
All,
Here is a good info site on H1N1.
http://www.cdc.gov/flu/weekly/
Happy Labor day.
Allan - please can you help give a new reader perspective and understanding of the charts?
Scott
Hi
Very interesting use of RENKO.
Although I can see your combining this Japanese wonder with your Blue Wave charting software and an ATR indicator, I'm puzzled as to how your overcoming the problem of disappearing bricks verses fixed bricks (especially in quicker time frames) ?
This appears to be a great combination if you could address this issue.
I've always considered Renko charting to give a unique trend following perspective but a hurdle seems to be the brick ghost effect.
Chris
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