Replies to post #288 on RENKO CHARTS

[PremierStocks]

The 60 minute is certainly more reliable with Penny stocks because there is inconsisitant volume and movements throughout the day.

Essentially using the 60, if it looks like the start of an uptrend, 2 white boxes, I am pretty confident that there will be some significant movement.

Then I would go to the 10 and then the 5 minute trying to find the best entry.

[simplegreen]

Hey charger...let me butt in....I trade 4X on multiple time frames...they are all "good"...from daily(to establish trend) down to 1 minute candles.I place actual trades on 1 or 5 minute candles.I have spoken of this before but....it takes x many 60 minute candles to generate 1 hourly candle...it takes 12 5 minute candles to generate a single hourly candle.Each time frame has its own points of support/resistance/reversals.The liberal use of pivot points and trend lines helps to find those areas.If RSI values are weak then 15 minute candles may show a consistant top reversal on its bearish crossover of Slow Sto(14,3) but if RSI values gain strength then the Sto may hover at overbought on 15 minute whereas a 30 minute may be just crossing the 50 line with bullish divergence meaning that you might get a lot more out of the move up until the 30 minute tops out.This process needs watching through multiple time frames.Each time frame has its own trend so time frame switching is a must for me.