I rarely show my renko chart. It is a great chart for understanding how the tape prints. The bars are not time-based. They instead print only as price fluctuates by a level of your choosing. When the Nasdaq is moving fast, I usually dial them back to 3 points. Lately I have been running them at 1.5 points. When conditions get real bad I dial them down to 0.75 points.
I mainly use the renko for profit expectation and risk management, but I do watch for this picture to emerge—the triple intraday confluence. One lined up this afternoon, and I worked a long into the close, click and enlarge it if you want:
This situation is the only other ‘working zone’ I have besides the morning market profile levels.
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