خرید و دانلود نسخه کامل کتاب Profitable Trading with Renko Charts – Original PDF

Introduction to Renko Charts Technical analysis can broadly be defined as the study of historical price action of a financial instrument, commodity, currency, etc. that helps in arriving at a reasonable conclusion about its prevailing demand and supply equation. The following are the basic tenets of technical analysis according to the classic work, Technical Analysis of Stock Trends by Robert D. Edwards and John Magee:* 1. Stock** prices move in trends, and a trend is deemed to continue until it gets reversed. 2. Stock prices are determined by the interaction of demand and supply, and the shifts in demand and supply cause reversals in trends. 3. The price discounts everything. Shifts in demand and supply can be detected in charts. 4. Price history and chart patterns tend to repeat themselves. Popular Charting Methods There are many ways to capture, or chart, the historical price movement of a financial instrument. The popular charting methods include line chart, bar chart and candlestick chart. Figure 1.1 explains their construction. Line charts are drawn by connecting closing prices of the chosen time interval. In bar charts, a bar is bullish when its closing price is higher than the earlier period’s bar; it is bearish when the closing price is lower than the earlier period’s bar. In candlestick charts, a candle is bullish when the close of a period is higher than its open, else it is bearish