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The ACD Method
- Thread starter sbrowne126
- Start date
Quote from Samsara:
I'm short, but it's constantly fighting right at this level. Could be sizable buyers and Maverick collecting sellers here for the squeeze and the impending failed A down.
It looks good to me, but I recognize it can go either way now, given this behavior.
ES bounced off my weekly A down at 1226.75.
So here is a number line update:
ES 0
CL +5 Very impressive but failed at the monthly A up today
ZB -1
GC +3 I blew out of my long yesterday when it failed to take out the weekly A up at 1803
ZC +9
ZS +4
ZW +8
Grains showing a lot of strength this month. Corn has 5 A ups this month!
KC +9 Coffee also looking really good, 5 A ups this month as well.
CC -5
NG 0 Nat gas sitting right at the monthly A down at 3.64
ES 0
CL +5 Very impressive but failed at the monthly A up today
ZB -1
GC +3 I blew out of my long yesterday when it failed to take out the weekly A up at 1803
ZC +9
ZS +4
ZW +8
Grains showing a lot of strength this month. Corn has 5 A ups this month!
KC +9 Coffee also looking really good, 5 A ups this month as well.
CC -5
NG 0 Nat gas sitting right at the monthly A down at 3.64
I'm short aud too but definitly not married to it.
Quote from baggerlord:
I'm short aud too but definitly not married to it.
Yeah, I said next on it. I'll see if it stays below all the right levels and makes an A down tomorrow (unless there's a large gap). But there was too much liquidity in my entry zone.
Haven't gotten off my ass to start looking at the number line; looking at the charts it probably isn't pointing that way yet anyway.
Quote from Quon:
I've been watching OXY in the oil space. Despite this morning's sell-off, the intra-day is really strong. Basically pulled right back to my weekly OR, and then just took off like a rocket.
I havent really looked at weekly OR's yet, but might do it for more of a macro look (since I day trade.)
I know this was touched on earlier, but are you guys using each Monday's H/L as the OR?
Or are you using the first week of each month? etc.
I know MF said the first week in January (and then resetting in July) were "statiscally signifigant."
I'd go back and look it up, but not sure where it is in the thread. I am just looking at peoples different interpretation on how they use weeklies.
Quote from mdl060374:
I havent really looked at weekly OR's yet, but might do it for more of a macro look (since I day trade.)
I know this was touched on earlier, but are you guys using each Monday's H/L as the OR?
Or are you using the first week of each month? etc.
I know MF said the first week in January (and then resetting in July) were "statiscally signifigant."
I'd go back and look it up, but not sure where it is in the thread. I am just looking at peoples different interpretation on how they use weeklies.
Everyone has their own OR for their own reasons, the important thing is that once you get one that works for you, you stick to it. As a day trader weekly levels could help you to read intra-day price action around key weekly levels, but if you have something that works for you on an intra-day basis, why complicate things?
The more I re-read the book, the more I see the value of keeping things nice and simple.