Monday, April 15, 2013

GDX daily Renko system chart

I haven't shown this for a while, here's my daily GDX Renko system chart, as you can see it has caught most of this large sell off in GDX over the past few months, besides some small whipsaw trades last fall, it has caught most of the move.  That's who these type of systems work, they are not perfect, they tend to catch large moves because they follow price, but can give whipsaw trades as well - it's best used as a guide along with your standard charts.

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