GDX - Chart Link - if the price of GDX can
close at or above $43.47, then a new renko box will be generated.
This will also raise the bar where the system will reverse to
a sell signal to $41.58, which almost put the system trade at break
even because the system entered the long on Friday at a price of
$41.61.
It's always nice to see the stops ratchet up like this
to protect profits and build in safety nets.
GDX renko comments
Posted by matt on 23rd of May 2012 at 02:38 pm
GDX - Chart Link - if the price of GDX can close at or above $43.47, then a new renko box will be generated. This will also raise the bar where the system will reverse to a sell signal to $41.58, which almost put the system trade at break even because the system entered the long on Friday at a price of $41.61.
It's always nice to see the stops ratchet up like this to protect profits and build in safety nets.
What would the system suggest as a stop
Posted by ragwing on 23rd of May 2012 at 03:28 pm
I see the Renko profit target exit is 13%. Seems like a trailing stop would be especially useful for covering those potential whipsaws