no it didn't fall below 20%. And if the triangle/flag
pattern plays out on this 60 min chart, it may not get below 20%
but instead breakout. 5 RSI did however, which I discussed in
the newsletter. For now GDX is consolidating, possible
forming a triangle or wedge on the 60 min.
Please
Note:Ultimately this is still a work in progress and I am
still testing various ideas and indicators. This work is NOT
set in stone, that's why I suggest that you experiment on your
own. I'm simply providing research data and trying to provide
tools to help your trading. Do NOT get lazy and think that is
a holy grail mechanical system that will work forever and you can
just sit back and make millions. There are no holy grails and
the best traders out there simply try to gain an edge in the market
and adapt to market conditions when needed.
Some things to
try:
1.While using the %K Stochastic on a 60 min time
frame appears to help better time the entries to the daily Renko
system in most cases, there are some examples where it doesn't, and
it's possible that you may miss a trade if the Stochastic doesn't
get overbought or oversold on the 60 min time frame in a reasonable
amount of time. Therefore one thing you could try is to take
a 50% position based on the daily system, and then take the other
50% of your intended position (for a 100% position) once the 60 min
%K Stochastic timing gave a signal. This will ensure that you
always have a position, even if the 60 min timing portion doesn't
give a trade or a better trade.
2.On the 60 min chart, you may also want to
experiment with some other indicators and combinations, for example
a 5 length RSI appears to give some good preliminary
results.
Again, keep an
open mind and be willing to experiment.
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gdx system
Posted by whirl on 9th of Jan 2012 at 02:42 pm
Did we get a GDX buy with %k going up over 20 ?
no it didn't fall below
Posted by matt on 9th of Jan 2012 at 02:51 pm
no it didn't fall below 20%. And if the triangle/flag pattern plays out on this 60 min chart, it may not get below 20% but instead breakout. 5 RSI did however, which I discussed in the newsletter. For now GDX is consolidating, possible forming a triangle or wedge on the 60 min.
again read my comments over the weekend from the newsletter and my posts today.
Please Note:Ultimately this is still a work in progress and I am still testing various ideas and indicators. This work is NOT set in stone, that's why I suggest that you experiment on your own. I'm simply providing research data and trying to provide tools to help your trading. Do NOT get lazy and think that is a holy grail mechanical system that will work forever and you can just sit back and make millions. There are no holy grails and the best traders out there simply try to gain an edge in the market and adapt to market conditions when needed.
Some things to try:
1.While using the %K Stochastic on a 60 min time frame appears to help better time the entries to the daily Renko system in most cases, there are some examples where it doesn't, and it's possible that you may miss a trade if the Stochastic doesn't get overbought or oversold on the 60 min time frame in a reasonable amount of time. Therefore one thing you could try is to take a 50% position based on the daily system, and then take the other 50% of your intended position (for a 100% position) once the 60 min %K Stochastic timing gave a signal. This will ensure that you always have a position, even if the 60 min timing portion doesn't give a trade or a better trade.
2.On the 60 min chart, you may also want to experiment with some other indicators and combinations, for example a 5 length RSI appears to give some good preliminary results.
Again, keep an open mind and be willing to experiment.