Replies to post #56209 on SPDR S&P 500 (SPY)

[Neutral Man]

Yo Left-Field-Girl... Shear Genuis I tell ya, Shear Genius!

You can submit that to Wikipedia for the definition of "Whip" action, LOL!?

Warm regards,
nm

[be]

If I have to vote for the " best post of the year" this is the one :

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learning..Jake..anyone following Renko trends. You have noticed today, with the large intraday volatility, a red candle appear at the end of four white candles (if you are using box size of 1.5 on MVV)......that red candle has now disappeared, as the price has risen back somewhat, and the price is no longer below the value needed to fill the red box.

The message I have gleaned is..intraday moves can be watched, but ignored for position changes..it is the price level that buyers and sellers are willing to hold overnight that is important. I look at the situation late in the trading day, if I want to take a direction change..or after hours, when there is time to evaluate more fully the eod breadth indicators..and then take a new position for the opening.

What one will find, is that often the intraday moves that are large resolve closer to the opening price..and taking those intraday gyrations can be a whip. regards.

Leftyg.
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If I can capture 2-3 or more bricks of profit in a short term trend..then take the reversal when it comes and capture a few more bricks of profit in that direction (Leftyg).

[jakemem]

Leftyg

Using the box size of 1.5 on the MVV - if we don't get a reversal back up the red box will remain - reversing the current position. However, at this point the MZZ is a good point away from reversing. This brings me to a fork in the road - will this be a whip saw or the real deal? One indicator I use with the RENKO charts is the TRIX and it is still pointing upward on the MVV - even with the red box showing. The other indicator is the cross of 2 MA's - not there yet either.