Looks like the reversal has started. Hope to see a nice trend up soon. No guarantees. If a whale comes in and shorts it, indictors mean nothing. that said, the profit appears to be to the upside.
My heads up that a reversal is approaching is:
1) SMA's 2,4, 6 have changed color
2) StochRSI is at 0
3) DPO is at a low
My entry is based on a multi confirmation:
1)StochRSI has come off of 0 to 30.00
2) DPO has made its first move off its low.
3) better yet if SMA 2 has crossed 6
Indicator Settings:
Renko chart style. I set mine at 26 to play the longer trends.
SMAs = 2,4,6, 33 (instead of 33 you can 20 or 50)
StochRSI = k=2, D=3, RSI Length = 1, Stochastic Length =2
DPO = Length of 1 with Gaps on
My heads up that a reversal is approaching is:
1) SMA's 2,4, 6 have changed color
2) StochRSI is at 0
3) DPO is at a low
My entry is based on a multi confirmation:
1)StochRSI has come off of 0 to 30.00
2) DPO has made its first move off its low.
3) better yet if SMA 2 has crossed 6
Indicator Settings:
Renko chart style. I set mine at 26 to play the longer trends.
SMAs = 2,4,6, 33 (instead of 33 you can 20 or 50)
StochRSI = k=2, D=3, RSI Length = 1, Stochastic Length =2
DPO = Length of 1 with Gaps on
Comment:
Follow-On: I also have a SMA at 8 (blue) but don't rely on it and will likely turn it off. Interesting however, how it gradually falls in line with SMA 6 (gold) on long trends.
Comment:
If you have never used the Renko chart type before, one of the beautiful things about it is it can clearly identify when trappers and scalpers have stepped in. Which is the case with this one. Note the disruption in the reversal patterns compared to historical. If you want to see a "stock" that has been taken over by those who trap and scalp look at FEMY. Its ugly (to a swing trader like me). But you trap and scalp, at the moment its your type of sandbox. Any which way you trade, happy trading!