Today Gold and Silver both are down. If GDX can goes
up then we will have a divergence. Then probably we will have GDX
or HUI bottomed, but so far it looks like we can not.
that puts $BPGDM on a sell as it crossed below the 8 and 5
dma...it had went on a buy signal friday...whipsaw...does this look
like bottoming action as it whipsaws around first???...thanks
yep, the BPGDM will go back on a sell signal, another whipsaw
for that system.
Lately the Renko system has been performing a lot better since
it follows GDX price, unlike Bullish Percent charts which are a
composite of P&F charts from a list of gold stocks
your question about the whipsaws being indicative of bottoming
action, perhaps, but GDX has a lot of work to do in order to prove
that. Again on the daily, I would like to see the GDX/GLD
ratio trendline broken, that has kept you out of this mess, the
daily Renko is also something to watch. On the 60 min GDX
chart, watch to see if the MACD can cross up and price hold the
lower trendline.
Posted by mdschapiro on 14th of May 2012 at 12:25 pm
Matt: I was wondering what the results are if you remove the
profit target out of the system as it really works as a trailing
stop. So far I stayed short using options on DUST and moving
strikes down waiting for a buy signal and is paying off.
Thanks.
mdschapiro - the results are quite a bit higher with the profit
target included, and is the reason why it's included in the system.
With systems most people have the tendency to look at the
current trade and over analyse it with respect to the rules.
Otherwise that said, systems can't adapt to everything, that's
why it's best to add your own analysis to it or deviate from trades
at certain times. At certain times you can tell when GDX is
in a choppy trend, where price targets work well, vs a trending
time, when price targets get you out too quickly.
You can always deviate from the system rules when your other
technical analysis gives you a good reason too.
Also, you can try instead of exiting the trade entirely once a
profit target has been hit, only exit 1/2! Now you have nice
gains locked in place and you have a running position in case the
trade continues to trend (as would be the case now, if part of the
short was held from Mar 3rd, it would be up 25%!!).
when I did the statistics to the system, I thought about having
the system exit only 1/2 once the profit targets were met, however
it made it more difficult for our backend settings. Also, I
figured it would be easy for you guys to simply do this on your
own. Treat these systems as templates and feel free to
venture off an your own to do likes like this or deviate from the
rules when you see fit.
Also, you can try instead of exiting the trade entirely once a
profit target has been hit,
only exit 1/2!
Now you have nice gains locked in place and you have a
running position in case the trade continues to trend (as would be
the case now), if part of the short was held from Mar 3rd,
it would be up
25%!!
when I did the statistics to the system, I thought about having
the system exit only 1/2 once the profit targets were met, however
it made it more difficult for our backend settings on the website.
Also, I figured it would be easy for you guys to simply do
this on your own.
Treat these systems as templates and feel free to venture off an
your own to do things like
selling only 1/2 once
profit targets are met, or deviate from the rules when you
see fit.
Posted by mdschapiro on 14th of May 2012 at 01:19 pm
Thanks Matt. I see everybody trying to buy the 50% retrace with
2 touches so far including this morning and if the 3rd touch does
not hold then the 61% retrace at around $35.- seems a good place
where a lasting bounce could take place.
Even if today we get a reverse of GDX or we get all Gld, SLV and
GDX, GDXJ rally at the end of the trading day, I would not buy GDX
or GDXJ. I will follow your Renko system to buy when GDX
reaches $44.1. This is because we are still far
from forming an up trend and at that time when GDX
reaches $44.21, we have a trend formed for GDX or HUI.
gyzhao - see my post from earlier, that Renko buy price
will likely move down after today's close to a price of $43.47.
As GDX trends lower, so does the 2 box reversal price.
$HUI WANTS GREEN INK
Posted by FIGO on 14th of May 2012 at 11:04 am
$HUI WANTS GREEN INK
I think it wanting to be in green
Posted by mrab on 14th of May 2012 at 11:11 am
and staying in green for more then just a bounce are two seperate things
Today Gold and Silver both are
Posted by gyzhao on 14th of May 2012 at 11:28 am
Today Gold and Silver both are down. If GDX can goes up then we will have a divergence. Then probably we will have GDX or HUI bottomed, but so far it looks like we can not.
matt BVN went on point & figure sell signal
Posted by 8899 on 14th of May 2012 at 11:54 am
that puts $BPGDM on a sell as it crossed below the 8 and 5 dma...it had went on a buy signal friday...whipsaw...does this look like bottoming action as it whipsaws around first???...thanks
yep, the BPGDM will go
Posted by matt on 14th of May 2012 at 12:04 pm
yep, the BPGDM will go back on a sell signal, another whipsaw for that system.
Lately the Renko system has been performing a lot better since it follows GDX price, unlike Bullish Percent charts which are a composite of P&F charts from a list of gold stocks
your question about the whipsaws being indicative of bottoming action, perhaps, but GDX has a lot of work to do in order to prove that. Again on the daily, I would like to see the GDX/GLD ratio trendline broken, that has kept you out of this mess, the daily Renko is also something to watch. On the 60 min GDX chart, watch to see if the MACD can cross up and price hold the lower trendline.
GDX Renko
Posted by mdschapiro on 14th of May 2012 at 12:25 pm
Matt: I was wondering what the results are if you remove the profit target out of the system as it really works as a trailing stop. So far I stayed short using options on DUST and moving strikes down waiting for a buy signal and is paying off. Thanks.
mdschapiro - the results are
Posted by matt on 14th of May 2012 at 12:59 pm
mdschapiro - the results are quite a bit higher with the profit target included, and is the reason why it's included in the system. With systems most people have the tendency to look at the current trade and over analyse it with respect to the rules.
Otherwise that said, systems can't adapt to everything, that's why it's best to add your own analysis to it or deviate from trades at certain times. At certain times you can tell when GDX is in a choppy trend, where price targets work well, vs a trending time, when price targets get you out too quickly.
You can always deviate from the system rules when your other technical analysis gives you a good reason too.
Also, you can try instead of exiting the trade entirely once a profit target has been hit, only exit 1/2! Now you have nice gains locked in place and you have a running position in case the trade continues to trend (as would be the case now, if part of the short was held from Mar 3rd, it would be up 25%!!).
when I did the statistics to the system, I thought about having the system exit only 1/2 once the profit targets were met, however it made it more difficult for our backend settings. Also, I figured it would be easy for you guys to simply do this on your own. Treat these systems as templates and feel free to venture off an your own to do likes like this or deviate from the rules when you see fit.
Also, you can try instead
Posted by matt on 14th of May 2012 at 01:01 pm
Also, you can try instead of exiting the trade entirely once a profit target has been hit, only exit 1/2! Now you have nice gains locked in place and you have a running position in case the trade continues to trend (as would be the case now), if part of the short was held from Mar 3rd, it would be up 25%!!
when I did the statistics to the system, I thought about having the system exit only 1/2 once the profit targets were met, however it made it more difficult for our backend settings on the website. Also, I figured it would be easy for you guys to simply do this on your own.
Treat these systems as templates and feel free to venture off an your own to do things like selling only 1/2 once profit targets are met, or deviate from the rules when you see fit.
Thanks Matt. I see everybody
Posted by mdschapiro on 14th of May 2012 at 01:19 pm
Thanks Matt. I see everybody trying to buy the 50% retrace with 2 touches so far including this morning and if the 3rd touch does not hold then the 61% retrace at around $35.- seems a good place where a lasting bounce could take place.
One day does not make a trend
Posted by gyzhao on 14th of May 2012 at 01:33 pm
Even if today we get a reverse of GDX or we get all Gld, SLV and GDX, GDXJ rally at the end of the trading day, I would not buy GDX or GDXJ. I will follow your Renko system to buy when GDX reaches $44.1. This is because we are still far from forming an up trend and at that time when GDX reaches $44.21, we have a trend formed for GDX or HUI.
gyzhao - see my post
Posted by matt on 14th of May 2012 at 02:25 pm
gyzhao - see my post from earlier, that Renko buy price will likely move down after today's close to a price of $43.47. As GDX trends lower, so does the 2 box reversal price.
Thanks, Matt. I have noticed your
Posted by gyzhao on 14th of May 2012 at 03:07 pm
Thanks, Matt.
I have noticed your post immefiately after I sent my comment.
THanks again!!