The ACD Method

Quote from mfbreakout:

I am assuming your have read Mark Fisher book. I trade 45 minutes OR from 8.30 to 9.15. Your platform should be able to draw those with daily pivot range etc. and if you do not subscribe to mark Fisher daily commentary service ( $1800 /year) then calculate 30 days number line etc.. like most of the trades in this forum do.

My charts have normally 5-6 lines refereeing to above mentioned levels.

If you are using 5 minutes OR ( which lot of traders do), then my charts have no VALUE except to give some perspective in terms of how a trader with different OR is trading. I post 3 charts, pre open, intra day and end of day.

You must be talking about futurestrader71 charts.
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Thanks.

Seems like everyone uses it differently...
futures71 ... no thanks
 
intra day- Once price pulls into OR after an A up or A down- it is typically a MESS as shown by days price action. Does not mean there are no trading opportunities- all it means on days like today trading requires lot more effort and LUCK. Break down of 102.40 into euro close was not with much FORCE but I still plan to follow the PLAN.
 

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Quote from mfbreakout:

intra day- Once price pulls onto OR after an A up or A down- it is typically a MESS as shown by days price action. Does not mean there are no trading opportunities- all it means on days like today trading requires lot more effort and LUCK. Break down of 102.40 into euro close was not with much FORCE but I still plan to follow the PLAN.
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I would wait for a double top intrday, if it breaks down sell it..... double tops are nice
 
XLY looks healthy in this tape, maybe it's a good spread against XLU, XLV or VNQ. So far I got a small long position and will spread against one of those if they go below the A down level.
 
I know it sounds crazy, but I'm going to start keeping an eye on Ford again. Really nice opportunity to buy last week on the failed weekly A down, now, it's outperforming the S&P.

I have 11.85 on the monthly A up.
 
Quote from Quon:

Dumped the BMY. Stopped working round about 2 weeks ago after the big gap off the failed Dec Monthly A down on the 19-20th. While the rest of the market confirmed a weekly and rallied BMY languished, (bad fundamental news about a drug experiment). I didn't get hurt because I had the number line helping me out.

Not sure if anyone was looking today, but BMY got hit hard. While the market was in gap and hold mode, BMY sank like a rock and confirmed an intra-day A down, (the first since confirming it's Dec Monthly A up. That's a clear sign to me that it's time to exit, (not to mention that it'd done half a day's volume at like 10amish.

Sounds like sector rotation to me, (like you mentioned Shan) and you're right, the 30 day number line of the various sector ETFs that I track had been starting to show much more favor in the XLP than the XLV, now the risk ETFs look better. Statistical outlier today in the XLV was TEVA, (new CEO - ironically stolen from BMY) but not a big TEVA fan here. TEVA was lousy second half of Dec. Has to prove itself to me.

Yep, I think the relative strength in the XLV is starting to fade a bit here, (though on a side note, the ETF itself is still holding up ok - though again, this could have more to do with TEVA today).
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BMY bounced off the monthly A down today at 34.20. Just letting ya know...
 
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