fxprosilver - the Renko buy signal for GDX does not directly
relate to any such signal for Gold Bullion. While they are often
correlated, don't ever assume that a buy signal for one
index/sector applies to another.
Further, I suggest you review (in depth) the statistics and
comments Matt has posted regarding the GDX Renko system so you
understand that after very strong moves what to expect.
fxprosilver - the Renko buy
Gold stocks bottomed?
Posted by steve on 23rd of May 2012 at 08:54 am
fxprosilver - the Renko buy signal for GDX does not directly relate to any such signal for Gold Bullion. While they are often correlated, don't ever assume that a buy signal for one index/sector applies to another.
Further, I suggest you review (in depth) the statistics and comments Matt has posted regarding the GDX Renko system so you understand that after very strong moves what to expect.
http://breakpointtrades.com/blog/post/199889/#199952
Steve - Thank you, it
Posted by fxprosilver on 23rd of May 2012 at 09:44 am
Steve - Thank you, it really makes sense after reading Matt statistics. Ill stay away today..