Using pure price-volume analysis with a Renko chart, you can identify different support and resistance levels. By using a volume indicator, you can determine the most traded price level, which represents the accumulation zone—around 55.74. The price range between 54.12 and 56.90 is also an accumulation zone. Adjust your strategy accordingly by taking profit or accumulating more, based on your level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.