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The ACD Method
- Thread starter sbrowne126
- Start date
Quote from kinggyppo:
It depends is acd breakout or reversion. I think the whole idea for me is to not get taken out of a trend day. It is easy now to say gold is a short. I took a scalp on gld the other day and got stopped out. No biggie on to the next trade. I tend to favor long trades so I get stopped out alot when volatility is high. For example I got a big windfall on the gap up from the euro swap, currently I am getting stopped a lot. Some guys will never take a long trade as they are pessimists by nature. I am well aware gold could go to 1450 as Mav says. I really have no idea where gold will end today doesn't mean I can't trade it.
Well, there was a solid sell signal in Gold at 1687 on the monthly A down. That was over 100 handles ago. That trade offered no heat.
Long 95.42. stop loss 95.29. target 96.30 area. Another long off maverick monthly A down level off 95.38.
Quote from kinggyppo:
It depends is acd breakout or reversion. I think the whole idea for me is to not get taken out of a trend day. It is easy now to say gold is a short. I took a scalp on gld the other day and got stopped out. No biggie on to the next trade. I tend to favor long trades so I get stopped out alot when volatility is high. For example I got a big windfall on the gap up from the euro swap, currently I am getting stopped a lot. Some guys will never take a long trade as they are pessimists by nature. I am well aware gold could go to 1450 as Mav says. I really have no idea where gold will end today doesn't mean I can't trade it.
From what I see, King you look to be more of a scalper. So you are doing all of this while reading the tape and taking your little chunks. Just a different way of looking at things relative to most people on this thread.
Quote from kinggyppo:
I agree but I am not trading gld on that timeframe.
It doesn't matter the time frame. There have been countless weekly A downs and intra-day A downs. And plenty of failed weekly and intra-day A ups to fade against the monthly and weekly A downs. The number of trades over the last month or two with the trend probably number over 30. Fading momentum is a very stressful way to trade regardless of whether or not you make money.