My Golden Crystal Ball
Reduce noise.. just price… then any indicator (or COT) added on top of that Renko chart also inherits that property.
We are possibly closing in on an intermediate top. I was debating with myself if we’d consolidate below 1900$ for a few months, then breakout above… this analysis makes me think we bust through and hit +2000$… attract the crowd… they get slaughtered as the price reverts back to 1900$ in a multi-month consolidation. When they give up.. off we go again to 2600$.
Thanks Patrick. Your chart needs a slight adjustment – your $2040 target in mid June is actually mid May on the chart 😉
Yeah. Thats the prob with pnf and renko. They only modify/adjust the forward timeline when a new bar is added.