I closed out my short on the bounce. Had a good run, no point being greedy.
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The ACD Method
- Thread starter sbrowne126
- Start date
I closed out my short on the bounce. Had a good run, no point being greedy.
Quote from Maverick74:
I've got a bogey on my tail. Someone is piggybacking my natty long...
http://video.cnbc.com/gallery/?vide...nUGFnZSI6IjEiLCJzeW0iOiIiLCJzZWFyY2giOiIifQ==
this is a dead link
Actually this is the link I was trying to post:
http://video.cnbc.com/gallery/?play=1&video=3000214445
I hope I'm not disturbing anybody from their nap but USD/JPY IS going to confirm on the 30 day and GBP/JPY will "likely" confirm. USD/JPY has been coiling for a while now and now it has it's fuel.
Fyi, the Yen re-set for me way back in early June so the number line has been in chop mode for 5 months. And what was price doing during that time? Chop of course. Just giving you guys a heads up.
Fyi, the Yen re-set for me way back in early June so the number line has been in chop mode for 5 months. And what was price doing during that time? Chop of course. Just giving you guys a heads up.
Doesn't it stand to reason that in the crosses we should include one of the strongest currencies, GBP, instead of one of the weakest currencies, US$ ?
If as expected, GBP:US$ to stengthen & JPY:US$ to weaken, then the preferred trade would be GBP:JPY to strengthen (US$ simply cancels out in the 2 respective crosses)...
?
If as expected, GBP:US$ to stengthen & JPY:US$ to weaken, then the preferred trade would be GBP:JPY to strengthen (US$ simply cancels out in the 2 respective crosses)...
?
Quote from running_bare:
Doesn't it stand to reason that in the crosses we should include one of the strongest currencies, GBP, instead of one of the weakest currencies, US$ ?
If as expected, GBP:US$ to stengthen & JPY:US$ to weaken, then the preferred trade would be GBP:JPY to strengthen (US$ simply cancels out in the 2 respective crosses)...
?
Absolutely. Your logic is spot on and that is exactly the type of analysis I do. However, I have a confirmed number line on the dollar and it's stronger then cable on my number line. And as you correctly pointed out all I have to do is look at my gbp/usd number line. The reality is both are similar enough chart wise but number line wise dollar is a little stronger.
And.... with this statement, Fisher is blowing his own promoted trading style away, he's trying to pick bottoms and tops.
Trading proves everyday that it's not because something is going up for a long time you should go short and vice versa.
Sigh...
Trading proves everyday that it's not because something is going up for a long time you should go short and vice versa.
Sigh...
Quote from traderslair:
And.... with this statement, Fisher is blowing his own promoted trading style away, he's trying to pick bottoms and tops.
Trading proves everyday that it's not because something is going up for a long time you should go short and vice versa.
Sigh...
How is he blowing his style? His views on crude are long term and a very broad statement. How he is actually going about expressing that view he has not stated. How do you know he doesn't have a level here? I bought natty yesterday. Was I bottom picking? No, I bought a failed monthly A down on a neutral number line. But to an outsider it looks like I'm simply trying to pick a bottom.
Because Mav, there is on the CRUDE (not the NG) no daily, monthly, yearly ACD level broken/rejected/failed.
He says: everybody is short, so I go long.
I don't like that. Maybe you do, but I don't.
He says: everybody is short, so I go long.
I don't like that. Maybe you do, but I don't.