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Just a heads up, a lot of number lines are re-setting in FX land. So a lot of chop probably on the way. GBP/AUD is the one standout. Still confirmed.

Everyone had this. I traded listed stocks at a prop firm in NY between 2000 and 2002 and the specialist had to fill you on block prints no matter who you were. I never thought of this as an edge. You just had to know how to trade. There was a little nuance in when you had to send your market...

Watching this natty closely for an entry on a failed monthly A down.

No need to proselytize. Just use ACD. We had a failed monthly A up in Jan almost to the handle. Number line is slowing starting to firm. Silver is actually more interesting to me. Number line there reset about 10 days ago and is firming up. I'm all over that when it confirms. It's been...

It's pretty far back King. Although I still remember the guys who use to call me at 9am Sunday Mornings screaming at me on the phone to bet on the action. If you guys want to hear a good scam, let me know. I have some stories of how these Vegas guys worked. Makes boiler room brokers...

You could probably go with this momentum, my day is -6 so the wind is at your back but my 30 day is still near 0. My choice would be to fade a weekly A up.

No, you are not lending. You are betting on a future 3 month strip of libor interest. The actual banks who are lending are getting that interest. You are purchasing a present discount value of that forward rate. THAT is why you are seeing convergence. It's the same way t-bill are priced...

Weekly levels are just that, weekly levels. They all re-set on Monday for me.

What this was trying to show was the return of various products along with the volatility you had to withstand to earn that return. It was showing that some of the biggest returns actually had the lowest volatility and many products with flat to negative returns actually had the highest vol...

The QTR A down is at 90.50. This is what I was referring to yesterday in my posts. Don't get caught up in absolute levels. I was watching oil at the A down and was looking to put on a position but I did NOT like the way it was acting there. Whether or not it was .20 above the A down or .20...

Just trying to be a value add. And you're not the only one doing that on this thread. :)

OK, let me just for safe keeping mention this one more time as I feel every 100 pages or so I should remind you guys. There are no "correct" levels. What you are trying to ascertain is how is price "acting" around these levels. This is about PRICE ACTION. Look, back in the day I use to...

OK, stop what you are doing and take 100 steps back. LOL. Forest....trees...forest...trees. :) You guys are getting way too granular on these levels.

Interesting graphic courtesy of Ashraf Laidi (from the book I told you guys to buy). :)

My number line is in chop mode on that pair. And sure enough...

On a separate unrelated note.....we crossed 1 million page views today!!!!!!!:)

Heating oil also bounced off my weekly and monthly A down.

Looks like we'll need one more look on CL. My weekly A down is 93.23. Actual low was 93.20.

I have never used monthly pivots, but again, they might be very effective. You might find them easier to gauge price action. Again, like a broken record, you need to understand what a monthly pivot is telling you and how it differs from A levels that way you will understand the information...

And to underscore this point even more, I find it amusing that so many traders are so consumed with commission costs yet lose 10 times their commissions with over trading and losing money on trades they should not be taking. The churn IS the commish.