USING RENKO, IT SHOWS THE DOWNTREND IS PART OF A MAJOT UPTREND AND IS ALREADY LOOKING TO BOUNCE BACK UP TO START AN UPTREND.
IT HAS ENTERED THE AREA OF VALUE SO WHEN IT BREAKS THE MAJOR SUPPORT LINE THERE IS A SELL STOP ORDER (RED LINE) THERE AND WHEN IT DECIDES TO GO UP, THERE IS A BUY STOP ORDER (GREEN LINE) THERE USING ATR LEVELS FROM RENKO
YPU SHOULD WAIT FOR EXTRA CONFIRMATION FOR THE GREEN LINE BECAUSE IT CAN ALSO ACT AS A SUPPORT TO THE DESCENDING WAVE.
TRADE SAFELY
IT HAS ENTERED THE AREA OF VALUE SO WHEN IT BREAKS THE MAJOR SUPPORT LINE THERE IS A SELL STOP ORDER (RED LINE) THERE AND WHEN IT DECIDES TO GO UP, THERE IS A BUY STOP ORDER (GREEN LINE) THERE USING ATR LEVELS FROM RENKO
YPU SHOULD WAIT FOR EXTRA CONFIRMATION FOR THE GREEN LINE BECAUSE IT CAN ALSO ACT AS A SUPPORT TO THE DESCENDING WAVE.
TRADE SAFELY