GDX - Chart Link A close over
yesterday's high of 30.44 would give a confirmed RSI 8 buy signal,
the last confirmed signal was a sell signal on October 12th, all
the attempted buy signals from October were filtered out.
Remember the key for this chart is the GDX has to close above
yesterday's HIGHS, if it gives the gains back and closes negative,
it will not confirm.
This chart uses the 8 length RSI having a confirmed close over
the 50% level.
again this is just a tool and a guide - it should never be used
as a stand alone system, it should be used
in conjunction with other technical analysis, indicators,
trendlines, wave counts etc
clearly the GDX RSI 8 will not confirm today since GDX reversed
and is closing negative - amazing how many times those signals have
been filtered out now via the confirmation method
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GDX RSI 8 may give a confirmed buy signal if GDX closes positive
Posted by matt on 9th of May 2013 at 01:33 pm
GDX - Chart Link A close over yesterday's high of 30.44 would give a confirmed RSI 8 buy signal, the last confirmed signal was a sell signal on October 12th, all the attempted buy signals from October were filtered out.
Remember the key for this chart is the GDX has to close above yesterday's HIGHS, if it gives the gains back and closes negative, it will not confirm.
This chart uses the 8 length RSI having a confirmed close over the 50% level.
*CLICK HERE* for a video explaination
again this is just a tool and a guide - it should never be used as a stand alone system, it should be used in conjunction with other technical analysis, indicators, trendlines, wave counts etc
duration of signal
Posted by hazbin1 on 9th of May 2013 at 02:23 pm
Matt,
looking at shorting puts, what type of a timeframe have we on this signal (ballpark obviously)?
clearly the GDX RSI 8
Posted by matt on 9th of May 2013 at 03:52 pm
clearly the GDX RSI 8 will not confirm today since GDX reversed and is closing negative - amazing how many times those signals have been filtered out now via the confirmation method