The ACD Method

Maverick, or anyone else out there.

I have been studying daily charts, in conjunction with intradays.

And since ACD is ideally a sequence of "layers" lining up, have you looked at as kind of a macro view, stocks (in my case) breaking monthly levels, in relation to weekly levels?

For example, lets say a security breaks to the upside from a monthly level.. Then a new week starts, and the weekly level is decided (above the monthly). Then it fails to hold a A down intraday on the weekly level, touching the upper monthly..

In other words, bouncing off of support..

So I guess my question is do you use the layers of support/ resistance on weekly/monthly, to form any sort of probability of price moving short term?? It seems like good S/R lines.
 
Quote from mdl060374:

Maverick, or anyone else out there.

I have been studying daily charts, in conjunction with intradays.

And since ACD is ideally a sequence of "layers" lining up, have you looked at as kind of a macro view, stocks (in my case) breaking monthly levels, in relation to weekly levels?

For example, lets say a security breaks to the upside from a monthly level.. Then a new week starts, and the weekly level is decided (above the monthly). Then it fails to hold a A down intraday on the weekly level, touching the upper monthly..

In other words, bouncing off of support..

So I guess my question is do you use the layers of support/ resistance on weekly/monthly, to form any sort of probability of price moving short term?? It seems like good S/R lines.
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The only thing I'll warn you against is not over complicating things. Don't be one of those guys with 50 lines on your charts. LOL. At the end of the day, the price action should be the same no matter what time frame you are looking at.
 
Quote from kinggyppo:

I have not seen a gap like that 5%, I will take a few lotto tickets on a partial gap fill.
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gld traded back thru the ten minute open, should I short the dxy now?
 
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