We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Repligen Corporation (NASDAQ:RGEN).
When trading stocks with the MarketClub system you use the monthly Trade Triangle to tell trend and the weekly Trade Triangle to time the trade entry and exits.
Regeneron Pharmaceuticals, Inc.(NASDAQ:RGEN) put in a monthly green Trade Triangle in August of 2012, and has stayed on a monthly green Trade Triangle since.
Since the monthly put in a green Trade Triangle, there have been a number of weekly green Trade Triangle buying opportunities as (NASDAQ:RGEN) moved higher.
Right now (NASDAQ:RGEN) is on a red weekly Trade Triangle which sets up another possible buying opportunity.
So as long as the monthly Trade Triangle stays green, and if (NASDAQ:RGEN) puts in a new green weekly Trade Triangle, that will be yet another opportunity to hop aboard a stock in a clear up trend.
Repligen Corporation(NASDAQ:RGEN) looks to have lot's of long term upside potential making it an excellent Chart to Watch !
Thanks,
Jim Robinson
Profit Trading.com
I think your use of RED and GREEN is very confusing.
QUOTE:
1) So as long as the monthly Trade Triangle stays green, and if (NASDAQ:RGEN) puts in a new green weekly Trade Triangle, that will be yet another opportunity to hop aboard a stock in a clear up trend.
2)Right now (NASDAQ:RGEN) is on a red weekly Trade Triangle which sets up another possible buying opportunity.
Are these 2 statement contradicting? If not, at least you didn't clearly state what green or red means in your system.
Hi Jyuan and thanks for your question. Our rules for using the Trade Triangles to trade Equities re as follows -
Monthly Triangles determine trend and possible entry points.
Weekly Triangles determine timing: exits, entries and re-entries.
The last triangle issued on the monthly chart should always be used to identify the overall trend. You can also use the monthly triangle as a potential entry point if you can get into the market within the last 3 trading days of the signal. Then you are to look at the weekly triangles for possible exit and re-entry points, or entry points if your monthly is in a steady trend.
Key Rule: always trade with the trend. Make sure your weekly and monthly triangles correspond in direction.
Here's a link with more info as well.
Hope this helps,
Jeremy