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How to Use Renko Charts for Drawing Support and ResistanceHow to Use Renko Charts for Drawing Support and Resistance Like a Pro Most traders rely on candlestick charts to identify support and resistance zones—but if you’re still sleeping on Renko charts, you’re missing out on one of the cleanest ways to map market structure. Renko charts filter out noise and only plot price movement, not time, giving you a stripped-down view of market momentum. That’s exactly what makes them powerful for spotting true support and resistance zones—without all the clutter. Why Renko Charts Work for Support & Resistance Support and resistance are areas where price historically reacts—either bouncing or reversing. On traditional candlestick charts, these zones can be hard to identify clearly because of wicks, time-based noise, and volatility. Renko charts simplify that. Because Renko bricks are only formed after a specific price move (like 20 pips or using ATR), the chart naturally filters out sideways chop and lets key levels stand out like neon signs. How to Draw Support and Resistance with Renko Here’s a quick step-by-step process: Set Your Brick Size Use an ATR-based Renko setting (ATR 14 is common), or set a fixed brick size that fits your trading style. For swing trading, slightly larger bricks will work best. Look for Flat Zones Identify areas where price stalls or flips direction multiple times. These flat “shelves” on the Renko chart often line up with strong historical support or resistance. Mark the Bricks, & Sometimes The Wicks With Renko, you’re not dealing with traditional candlestick wicks. So your levels are based on the tops and bottoms of the bricks, not erratic spikes. Check for Confirmation If a level held as resistance and later flips into support (or vice versa), that’s a key zone to mark. These “flip zones” are often hotbeds of institutional activity. Bonus Tip: Combine with Price Action Renko charts tell you where price is likely to react—but combining them with price action techniques (like engulfing candles, pin bars, or M/W formations on traditional charts) will give you a lethal edge. Use Renko to mark the zone, then switch to candlesticks to fine-tune the entry. Best of both worlds. If you’ve been struggling to draw clean support and resistance levels—or find yourself second-guessing your zones—Renko might be your solution. It’s not about fancy indicators or chart tricks; it’s about removing the noise so you can trade what really matters: structure and momentum. Are you using Renko in your strategy? Drop a comment or shoot me a message—I want to hear how it’s working for you.
CRYPTO:SOLUSDEducation
by TLTurnerTV
8
Golden Cross means Golden Opportunity?Here's What You Need to Know About Moving Averages One of the signs of the beginning of a bullish trend is the golden cross — a crossover between two moving averages. The shorter-period moving average (closer to the price) crosses above the longer-period moving average (farther from the price). When this happens, it could be a signal to consider buying or opening a long position, especially if supported by candlestick confirmation. The target is usually set higher than the previous high. Case Study: BINANCE:STEEMUSDT The price began trading above the EMA 20 (white line) and EMA 50 (pink line), then the EMA 20 crossed above the EMA 50 — forming a golden cross. But instead of entering immediately, you should wait for a price retracement back to the EMAs, allowing them to act as support (also known as dynamic support, since EMAs move with price). In this case, a bullish engulfing candlestick pattern appeared right at the EMAs. The confirmation level is at 0.1303, which means the price needs to close above this level to validate the bounce from the EMAs. The invalidation level is below the bullish engulfing candle — at 0.1270. Target prices: Target I: 0.1570 – 0.1632 Target II: 0.1802 – 0.1887 You might be wondering: How do I choose which target to aim for? Let me explain — the main target is 0.1802 – 0.1887 because it’s above the previous high (in a bullish trend, price tends to form higher highs). Then why include 0.1570 – 0.1632? Even though we aim for the higher target, we still need to be cautious of potential resistance in that zone. Once the price hits that level, observe how it reacts. If there’s a significant rejection or price drop, consider reducing your position to secure profits. But if the price keeps pushing up with strong momentum, let the profits run. So in this case, 0.1570 – 0.1632 acts more like a level of awareness rather than a fixed take-profit target. Let me know what you think about this post! Would love to hear your thoughts and how I can support your trading journey with more technical insights or educational content like this. 🙌
Long
by EkyFabyanto
Bajaj Finserv Ltd scending Triangle formation on the monthly📌 Trade Setup: Bajaj Finserv Ltd (NSE) Pattern: Ascending Triangle Timeframe: Monthly Signal: Approaching breakout of horizontal resistance zone ✅ Buy Recommendation Buy above: ₹2,075 (Monthly close above resistance confirms breakout) Aggressive entry: ₹2,035 (Current level with early risk) Target 1: ₹2,400 Target 2: ₹2,750 Target 3: ₹3,000+ (Long-term projection from triangle height) ❌ Stop Loss SL: ₹1,850 (Below recent swing low and trendline support) for educational purposes only
NSE:BAJAJFINSVLong
by rmhetre15
Litecoin Breakout and Potential RetraceBINANCE:LTCUSDT : Hey Traders, In today's session, we're keeping a close eye on LTC/USDT as it approaches the $77 area, a key support-turned-resistance zone. Litecoin recently broke below its previous uptrend, indicating a potential shift in momentum. It is now in a corrective phase, with price retracing back toward the broken trendline and horizontal resistance around $77. This level could act as a strong rejection zone, offering a potential selling opportunity if bearish confirmation shows up.
Short
by JoeChampion
2
USD remains weak across the board. EUR, GBP & JPY Bullish.Not much action due to the extended market break and Easter weekend but I expect more USD selling across the board in the coming weeks ahead. Long positions are sitting tight but two areas I am keeping an eye on are 1.1200 as a base support and 1.1500 as the resistance hurdle we need to clear in order to open up the gates to 1.2000+ GBP/USD is still a bullish case for me as the short term resistance may be cracking and I'm still expecting for the JPY to advance against the USD. It's good to get a break from the market volatility but I surely expect it to resume in the coming week! Good Luck & Trade Safe!
by InternalTraderNYC
CAKEUSDT Short Setup – Watching 2.40 Zone for RejectionHey Traders, CAKEUSDT is currently trading within a well-defined downtrend, consistently forming lower highs and lower lows. The recent move appears to be a corrective rally, bringing price back toward a key daily resistance zone around 2.40, which also aligns with the descending trendline. I’m monitoring this area closely for potential bearish price action to develop, signaling a continuation of the dominant bearish trend. Key Confluences: Major daily resistance at 2.40 Approaching descending trendline Market still in a clear downtrend Possible lower high formation in progress Trade Plan: If I see bearish confirmation in this zone (e.g. rejection candles, bearish structure break on lower timeframes, or weakening momentum). A strong break and hold above 2.40 would invalidate the setup!
Short
by JoeChampion
Why This Bearish Trend Is Actually a Bullish Opportunity?Understanding the Multi Timeframe Analysis – Part 1 of 2 Have you ever felt overwhelmed when using multiple timeframes in your analysis? Not sure which timeframes to choose or how to combine them effectively? In this post, I’ll share my thoughts on how to use multi-timeframe analysis with real chart examples. Let’s take a look at the movement from the first red and blue arrows – we can clearly see that buyers were not in control at that point. But if we compare it to the next red and blue arrows, it’s clear that buyers took control of the market. This tells us something important: ➡️ The recent price drop from the last red arrow is likely just a corrective move, not a reversal. Based on the 4-hour timeframe, we can identify the corrective target zone around 0.5593 - 0.5369. So what’s next? In smaller timeframes like the 1-hour chart, this corrective move might appear as a short-term bearish trend. But from a higher timeframe perspective, it’s just a pullback – and that can create an opportunity for a precise entry using a strategy like bottom fishing. In the next post (Part 2), I’ll show you how this works on the 1-hour chart – including the before and after, and how I plan my entry. Stay tuned! Do you usually check the bigger timeframe before taking entries? Let me know your approach in the comments.
by EkyFabyanto