"Buy on fear, sell on greed !!!
-
Trading Trends with Renko Charts
Renko means brick in Japanese. Every brick is the same size and a new brick is drawn one brick size below or above the brick before it. Bricks that are adjacent never overlap. Every brick starts where the previous brick ends. Traders can specify the size of bricks in pips. In the example above, the distance from the high and low of the brick is three pips. So a ten brick move is equal to 30 pips (10 bricks times 3-pip height brick). Price can move above and below the previous brick until the minimum number of brick is met. This may be a surprise for most traders who are used to a new candle being formed at a specific ... (full story)