chrisatom
Long

DJI 100pt Renko- follow the green brick road

DJCFD:DJI   Dow Jones Industrial Average Index
Renko shows the momentum, needs a daily close below 25800 to put in the first red bricks. Until then, stay on the green road!
Do you mean that you expect the DJI to set a couple "red-bricks" (continuing w/ analogy) below 25,800 in the support zone in order to provide that support for further upward movement?
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chrisatom jeremy.jacques79
@jeremy.jacques79, A close below 25800 would have put the first red brick in, which we missed today by 20 points, but i'd be looking to follow the red brick road on a major trend down until it reversed to green again. We have reversed off a yearly pivot so the possibility of a major move down is there.
+1 Reply
@chrisatom, Thanks for responding, :-)
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