SPDR S&P 500 (SPY)

[2bit-nothing]

Fox,

Nice chart, but you still need MAs to guide and imagine if you do not have MAs, it will be very difficult to make a trade. Besides, Renko is a slow process that perhaps why a min reversal is needed. But then this is still lagging because you need the price action to activate it. May be good for trading futures but not really for options especially swing trading options. At certain point, there may not be any bid at all. Option trading is most profitable when you do the probability analysis and pin-point the turning points and be contrarian. This means you need to have a position before everybody else. When the market becomes OB or OS the option pit will be frenzy and people will pay any price to get your position and that is when you hand it to them. But again, I enjoy your charts.

2bit