Make A Great Profit with A RenkoTrading Strategy.
This morning Google offered a greatopportunity in the pre market for quick profits.
There was a significant drop, the movewas quick, price bounced back up and then down and now it is tradingin a range that allows some profits as it skips back and forth.
This is a Renko chart which is actuallyquite simple and clearly shows the moves.
The three moving averages are sma5 onthe open shifted 1, 3, and 5.
Renko offers a way of monitoring themarket and accurately entering and exiting while avoiding poorentries due to choppiness.
There are many ways to configure aRenko chart, some are quite simple and some are more complex, it isup to the user to configure his chart so that it speaks loudly tohim.
Renko charts offer an alternative whichis well worth studying.
Google is especially suited to a Renkochart because of its price moves throughout most days.
Here are a couple more Renko charts,one for Gold and another for Oil. Again you can see that these areeasy to trade with and quite profitable.
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