01-05-2012. I try to stay away during oil report. It's interesting to note we had a failed A down in ES again with DXY above 81 level.
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The ACD Method
- Thread starter sbrowne126
- Start date
A lot of monster spreads today. Too many to post.
From a sector watch standpoint the XLP is strongest at 0, (haha) but the XLV still holding in there at -2. Look at MRK, nice. XLB also working at -1.
Nothing great here, but at least you get a sense for the relative strength of the sectors. I like the turn around in the XLB which has recovered significantly over the past month or so.
It should be noted that this is the 30 day number line.
Nothing great here, but at least you get a sense for the relative strength of the sectors. I like the turn around in the XLB which has recovered significantly over the past month or so.
It should be noted that this is the 30 day number line.
Quote from flip:
Attached a bund future (FGBL) trade from today morning.
I got the direction right, but was stopped out nevertheless.
Market advanced through the pivot range (shaded in gray) and through the A up (green line), long entry @ 138.21. Price went up a bit further and paused afterwards. According to Fishers time stop rule, I should have maybe exited the trade here for a small loss. I stayed in the trade until a 5min bar closed below the A up, long exit @ 138.12.
Soon afterwards the uptrend resumed - without me having a position anymore...
What would you have done different in this trade? Use a wider stop? Get out with the time stop? What's your re-entry method if you have one? E.g. enter the trade again once market closes above A up again?
You had a confirmed A up. Why did you get out on a time stop?
Quote from Maverick74:
You had a confirmed A up. Why did you get out on a time stop?
Actually I didn't go out where I marked time stop in the chart but once the 5min bar closed below the A up (second blue circle, LX 138.12). Idea was that the market didn't move after I initiated the position (Fisher's bus people analogy), so I exited it.
Quote from flip:
Actually I didn't go out where I marked time stop in the chart but once the 5min bar closed below the A up (second blue circle, LX 138.12). Idea was that the market didn't move after I initiated the position (Fisher's bus people analogy), so I exited it.
But that is what the confirmation is for. If you don't confirm the A up, that is your time stop. I don't think you did anything wrong. And again, as I've said before, you have to watch other products to get a feel for what is going on. What was the Euro doing? What was the Dax doing? And so on.
WTW just won't stop. Stock is up almost 30% in 2 days.