You use a 5 min OR for currencies? Wow. I have to admit, never even looked at that range for them.
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The ACD Method
- Thread starter sbrowne126
- Start date
You use a 5 min OR for currencies? Wow. I have to admit, never even looked at that range for them.
1 hour chart is the fastest one that looks like it has any order to it for me in currencies.
Great website, been working on some stat arb stuff(slowly) for a bit now and this looks like it may be a nice help along these lines!
Quote from Quon:
Everyone has their own OR for their own reasons, the important thing is that once you get one that works for you, you stick to it. As a day trader weekly levels could help you to read intra-day price action around key weekly levels, but if you have something that works for you on an intra-day basis, why complicate things?
The more I re-read the book, the more I see the value of keeping things nice and simple.
True. I am still not actively trading the ACD method yet. I am more just looking at ways to narrow down my intraday stock universe still and observing different things (like the OR/average ATR ratio.)
Also still developing some TS alerts and stuff for ACD.
But, yeah I do have a habit of over complicating things.
So far nice bounce off the failed weekly A down in the ES. All the major currencies confirmed A ups over night on the London session and Crude Oil is providing the leadership for risk assets to go higher. For me today the tell is watching oil. If oil holds above 97.00 today we will get a strong close on risk assets. Watch oil!
This is a really nice resource, lots of stuff posted here that gives you a good "food for thought" first impression.
Many Thanks
OK, so here is the breakdown. If you want to be long, be long oil. If you want to be short, be short copper. If you want to get chopped up, trade ES.
Copper confirmed weekly A down and can't find a bid it likes. Crude oil is eating up all the offers.
Gold getting decimated. Trying to confirm weekly A down.
Copper confirmed weekly A down and can't find a bid it likes. Crude oil is eating up all the offers.
Gold getting decimated. Trying to confirm weekly A down.