I've never looked at a Renko chart...wow it is truly amazing.
This leaves me in no doubt about the EW structure of the whole last 1.5 years.
It is incredible how the Renko chart picks out the EW waves.
And complex confounding corrective moves...just drawn out wave for wave!
This gives me a very welcome insight into the current price action.
My previous EW picture had C at about 510cny sometime in August/Spetember.
This shows the same impulse down to form wave C, but shows the extended wave I indicating that waves III - V will be 0.618 of wave 1, putting V and C at 667cny ($108) sometime early in July.
Renko is my new best friend :-)
This leaves me in no doubt about the EW structure of the whole last 1.5 years.
It is incredible how the Renko chart picks out the EW waves.
And complex confounding corrective moves...just drawn out wave for wave!
This gives me a very welcome insight into the current price action.
My previous EW picture had C at about 510cny sometime in August/Spetember.
This shows the same impulse down to form wave C, but shows the extended wave I indicating that waves III - V will be 0.618 of wave 1, putting V and C at 667cny ($108) sometime early in July.
Renko is my new best friend :-)