Perfect failed A up in the Euro today on the US session.
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The ACD Method
- Thread starter sbrowne126
- Start date
Quote from Quon:
Wow, that was a quiet and quick failed weekly. Since using ACD, (and really "getting it") I haven't seen one quite like that.
Any significance there, or am I still just a noob?
What do you mean by significance? Ideally the best failed signals come on wick. The ones that meander and hang out at the lows are generally not so good.
Quote from Maverick74:
What do you mean by significance? Ideally the best failed signals come on wick. The ones that meander and hang out at the lows are generally not so good.
I just mean that, (and again, very limited experience here) I've typically seen failed weeklies on late Monday/early Tuesday. Today's failed weekly A down happened early, and since the market was strong out of the gate, it didn't require price to pull back very much.
Just wondering if the early nature of the failure means anything, (i.e. more likely we run to the A up, or more likely to hit the weekly ATR, etc).
Quote from Quon:
I just mean that, (and again, very limited experience here) I've typically seen failed weeklies on late Monday/early Tuesday. Today's failed weekly A down happened early, and since the market was strong out of the gate, it didn't require price to pull back very much.
Just wondering if the early nature of the failure means anything, (i.e. more likely we run to the A up, or more likely to hit the weekly ATR, etc).
I rather see a failed weekly early in the week if you are bullish. If price drifts down to the weekly later in the week, there usually is not enough energy to bounce.