Matt, theRenko chart has now given a buy signal.  What do you think of using the 5 min chart with the ribbons to look for the first pinch of the uptrend to buy?

    yes it went on a

    Posted by matt on 24th of Mar 2020 at 09:55 am

    yes it went on a buy.  that could be an option you mention. I'm swamped here a the moment 

    watch to see if today is a breakaway gap. So far we are slightly out of the 30 min Wedge pattern but want to see it hold

    also since that is a

    Posted by matt on 24th of Mar 2020 at 10:00 am

    also since that is a daily I think it could flip back during the day if the market goes back down where you won't see it.  So you have to be away for that. For example show a buy signal now but if the market reversed and ended back down back the close the BPSPX might not even show that buy signal. Basically you see intra day moves on it but then all the past signals only reflect the close, at least I think.  

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!