The ACD Method

Quote from Maverick74:

As a price action trader, Gold is the hardest thing for me to read. Because on any given day, gold flips back and forth between a risk asset and a flight to quality asset.
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That does makes a lot of sense. Not to continue the high-fiving but you're quick on the draw. Insightful guy, Mav :D
 
Quote from Samsara:

That does makes a lot of sense. Not to continue the high-fiving but you're quick on the draw. Insightful guy, Mav :D
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Here is my thinking on the Gold trade. We did get that 2nd daily A up today for the number line. The weekly for me is 1803.50. So my thinking is, if we get above that weekly tomorrow, we will also confirm on the monthly and I have two levels working for me. Any close below 1788 will stop me out.

It is nice to see that my monthly A up coincides with a plus 5 on the number line. It tells me my number line and monthly A levels are in sync.
 
Quote from Maverick74:

Here is my thinking on the Gold trade. We did get that 2nd daily A up today for the number line. The weekly for me is 1803.50. So my thinking is, if we get above that weekly tomorrow, we will also confirm on the monthly and I have two levels working for me. Any close below 1788 will stop me out.

It is nice to see that my monthly A up coincides with a plus 5 on the number line. It tells me my number line and monthly A levels are in sync.
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Thanks for that. I can see my approach is different: my monthly bar is lower, but weekly and daily are higher. Where I'd likely place a stop in particular is wider than yours. Profit taking exits are always easy for me, so not much attention needed there. Good food for thought while walking forward.

Normally I'd devote some effort to back testing small components through the data to see what best fits my profile, rather than forward testing, but that's too complex of a task right now.
 
Quote from Maverick74:

Here is my thinking on the Gold trade. We did get that 2nd daily A up today for the number line. The weekly for me is 1803.50. So my thinking is, if we get above that weekly tomorrow, we will also confirm on the monthly and I have two levels working for me. Any close below 1788 will stop me out.

It is nice to see that my monthly A up coincides with a plus 5 on the number line. It tells me my number line and monthly A levels are in sync.
More...

I appreciate the add that your +5 coincides with the monthly A level. That's an interesting concept, (number line and A's aligning). I'd be willing to bet that this has been the case on many occasions, but I probably didn't notice.

Interesting, thanks.
 
Interesting number lines to note:

Gold now a plus 5 as was mentioned earlier. Corn plus 5. Cotton now down to minus 10! Coffee has a three of a kind, 3rd plus 3 for the month for a plus 10 number line.
 
In case we have any perma-bears in the room, guys that just have to be short, the best short trade right now continues to be long bonds vs short ES. If you just can't help yourself and want to bet on the end of the world, keep looking for good entries on the long bond. The price action is holding up really well there. So far on the month two solid A ups and no A downs.
 
Quote from Maverick74:

Here is my thinking on the Gold trade. We did get that 2nd daily A up today for the number line. The weekly for me is 1803.50. So my thinking is, if we get above that weekly tomorrow, we will also confirm on the monthly and I have two levels working for me. Any close below 1788 will stop me out.

It is nice to see that my monthly A up coincides with a plus 5 on the number line. It tells me my number line and monthly A levels are in sync.
More...

As of now, Gold failed at the weekly A up. BTW, this is why I get cautious entering on a monthly signal where there is a weekly right above that level. I rather pay up at a worse price to get better confirmation. Although I do think Gold will take out that 1800 pretty soon.
 
Quote from Maverick74:

Slightly off topic...but want to recommend a book I'm reading:

http://www.amazon.com/Street-Freak-...=sr_1_1?s=books&ie=UTF8&qid=1320730188&sr=1-1

This book is really a great read. There is actually quite a bit in here on trading content inside the house of Lehman. You get a great look at how really at the end of the day, the traders at Lehman Brothers are doing the same thing we are. No hocus pocus. Really helps you understand market structure. Check it out
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Looks like an interesting book. Just ordered it.

Thanks
 
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