short 101.80. Failed A up set up. Out 100.60. WE now have confirmed A down at 10 am but at support of 100.40. waiting for bounce to 100.90 and then 101.40 to short.
Missed the long from 100.44. Will go long if get an other opportunity.
The ACD Method
- Thread starter sbrowne126
- Start date
short 101.80. Failed A up set up. Out 100.60. WE now have confirmed A down at 10 am but at support of 100.40. waiting for bounce to 100.90 and then 101.40 to short.
Missed the long from 100.44. Will go long if get an other opportunity.
Quote from DerSlutharsch:
I post this link because BMY has been discussed a lot here, it has news:
http://www.bloomberg.com/news/2012-...drug-developer-inhibitex-for-2-5-billion.html
Did you trade the name because you were aware of the acquisition discussions or just based on price action? If the latter, it would make of a strong case of ACD success
Personally I started following BMY purely on the strength of it's 30 day number-line and price action. The fact that it made A ups on almost every level over the past few months didn't hurt either...
I'll say this; before I started using ACD I used to sit and wonder how the pros knew which stocks to trade. I felt like there were so many, how was it possible to know what to trade? Well, let me tell you, for me, (and others may find value elsewhere) but for me, it's all about the relative strength that the number line is cluing you in on. For example, the market can be in free fall, with all stocks down, but the number line alerts you to those stocks that while they are gaping down with the terrible market each day, find a way to recover. Maybe they gap down each day, but actually make A ups while the market is confirming A downs.
This is the key to me. Having a filter that says, "hey, these stocks suck, leave them alone or short them" and "hey there, these stocks kick-butt, buy them in conjunction with your trading rules."
The number line is a component of ACD I haven't paid much attention to, but I guess it's time to pick the book again and do my own research. Are you a subscribe of the Fisher service or do you write down your own values manually in a spreadsheet?
DECK breaking out.
Semi's on fire.
Yeah, number line is a pretty nice concept.
I don't subscribe to Fisher's service, (though I considered using the trial offer just to get a good look at it all). I think it's probably worth the investment, (I've seen some of the data he puts up there, and it's extensive).
I've mentioned this before, but I personally limit myself considerably with regard to what I follow. There's a ton I don't know, so I can't trade it. As such, yep, I got a file full of spreadsheets like you wouldn't believe. I manually keep track of what I follow each day. I know there's been some discussion here with regard to automating the number line, but I like to put my eyes and interpretation on it each day. Just seems to work for me.
Grains up over 2%. Wheat successfully bounces off the monthly A down. Still not much strength in Gold. That would be concerning if I was long gold. Should be trading better with grains getting this pop.
Short 101.24 Stop loss 101.41. cover 100.54. Now long 100.43. stop loss 100.38. Below 100.40, 100 is target and so on.
Nothing SECRETIVE here, just COMMON SENSE. Mark Fisher book title " The logical Trader" is for a reason. It either works or does not.
Weekly levels in Gold for those who are interested are 1590.70 and 1645.20.