GDX - the 60 min %K Stochastic is now
oversold. Remember the daily system went on a buy signal on
Jan 3rd, now the Stochastic has finally worked its way to oversold
below 20% to trigger a buy. Since this is a 60 min chart, you
have to look at the close of Stochastic on the close of each hr,
10:00, 11:00, 1:00, not 12:30 or 1:15 etc. However now %K
needs to cross back up above 20%. This should theoretically
give a slightly better price than the daily, we'll see.
GDX Renko system comments
Posted by matt on 13th of Jan 2012 at 12:50 pm
GDX - the 60 min %K Stochastic is now oversold. Remember the daily system went on a buy signal on Jan 3rd, now the Stochastic has finally worked its way to oversold below 20% to trigger a buy. Since this is a 60 min chart, you have to look at the close of Stochastic on the close of each hr, 10:00, 11:00, 1:00, not 12:30 or 1:15 etc. However now %K needs to cross back up above 20%. This should theoretically give a slightly better price than the daily, we'll see.
GDX daily renko systemwent on a buy signal Jan 3rd
Remember since this is a
Posted by matt on 13th of Jan 2012 at 12:52 pm
Remember since this is a 60 min chart, you have to look at the close of Stochastic on the close of each hr, 10:00, 11:00, 1:00, not 12:30 or 1:15 etc.
60 minute GDX
Posted by mdundon on 13th of Jan 2012 at 01:02 pm
Thanks, that was always a guestion I wanted to ask. Can I assume that it is the same for the 30 min, 15 min, etc. At the end of each time frame?
testing SMS text
Posted by matt on 13th of Jan 2012 at 01:04 pm
Yes it would be fractal in nature down to all time frames.
Thanks
Posted by irishguy63 on 13th of Jan 2012 at 12:55 pm
Thanks
GDX is currently above 20%
Posted by robo3 on 13th of Jan 2012 at 03:26 pm
GDX is currently above 20% on 14,1 stochastic. Lets see if it holds into the close
robo3- yep it's above for now,
Posted by matt on 13th of Jan 2012 at 03:29 pm
robo3- yep it's above for now, the close is important.
here's the stastistics to the system, taking the trade at the close isn't that much different from taking the trade intra day, see the left columns