Nice follow through in IOC today from yesterday. Solid confirmed monthly A up. Crude also holding a nice bid. I think a lot of that bid is geopolitical.
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The ACD Method
- Thread starter sbrowne126
- Start date
Quote from Maverick74:
I use more of a qualitative approach. So It's not just how much time price traded below there but also price action. If I see a lot of wicks below the A down I tend to discount it. Yesterday the market felt pretty weak and we stayed near the lows long enough to say it was a confirmed A down.
okay thanks!
Oil failed at my A up as did Gold. ES failed at the top of the daily pivot. Meanwhile the SPY/XLF spread continues to tick higher nice and smooth.
Quote from drm7:
Here is a chart of January WTI Crude vs. December ES. I multiplied CL by 20 to normalize the tick values (CL is expressed in ES terms now.) However, the the chart represents a 1/1 spread.
Note the recent strength of CL. Note also how crude tanked much worse than ES in early August.
By the way, barchart.com has great (free) charting tools for spreaders.
How do you use the spread charts on that site?
Nothing to do with today's trading activity, but do any of you who follow fisher's method give any credit to what is mentionned in chapter 2 on the plus/minus 30 day rule.
Seems kinda fishy to me, that if 30days ago was a plus day, then today should be a plus day because we have volatility or a plus day yesterday.
Just wondering, or maybe i'm just not understanding it correctly.
Seems kinda fishy to me, that if 30days ago was a plus day, then today should be a plus day because we have volatility or a plus day yesterday.
Just wondering, or maybe i'm just not understanding it correctly.
Quote from amsterdam:
Nothing to do with today's trading activity, but do any of you who follow fisher's method give any credit to what is mentionned in chapter 2 on the plus/minus 30 day rule.
Seems kinda fishy to me, that if 30days ago was a plus day, then today should be a plus day because we have volatility or a plus day yesterday.
Just wondering, or maybe i'm just not understanding it correctly.
Fisher believed in 30 day cycles. I personally have not seen much to validate this but he does use a 30 day numberline and I have noticed that when you drop off that data point from 30 days ago that is has an affect on the number line. I'm not sure he backtested that idea or not.
Perfect failed A downs in ES and Crude to the tick.