Nice follow through on the oil confirm. Number lines were weak during that entire rally. Now you see why. Right at the QTR A down now.
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The ACD Method
- Thread starter sbrowne126
- Start date
Anyone watching Cotton, Coffee, Corn, Wheat, Soybeans? Not much volatility out there eh?
So Mav,
Since I brought it up earlier, what do you think of USD/JPY here?
It was looking really good for a breakout but since failing at the Monthly A-up has run into trouble.
I had negative scores for every day but Friday this past week so my number lines have taken a hit.
My 30 day is still positive but my 5 day is now confirming downside momentum.
So my ACD read on this is nothing to do right now. If it gets to the Monthly A-down, wait and see if it can stabilize there before considering any long trades.
What say you?
Since I brought it up earlier, what do you think of USD/JPY here?
It was looking really good for a breakout but since failing at the Monthly A-up has run into trouble.
I had negative scores for every day but Friday this past week so my number lines have taken a hit.
My 30 day is still positive but my 5 day is now confirming downside momentum.
So my ACD read on this is nothing to do right now. If it gets to the Monthly A-down, wait and see if it can stabilize there before considering any long trades.
What say you?
So Mav,
Since I brought it up earlier, what do you think of USD/JPY here?
It was looking really good for a breakout but since failing at the Monthly A-up has run into trouble.
I had negative scores for every day but Friday this past week so my number lines have taken a hit.
My 30 day is still positive but my 5 day is now confirming downside momentum.
So my ACD read on this is nothing to do right now. If it gets to the Monthly A-down, wait and see if it can stabilize there before considering any long trades.
What say you?
I think it looks fine from a risk stand point. It's 40 pips away from my monthly A down.
I also got a confirm in EUR/CAD right before that big pop on Friday. Watching this USD/MXN closely. And GBP/USD in confirm mode as well.
Ok, thanks. The 5 day has me on guard with this one.
I got a confirm on GBP/USD last week.
Just ran the numbers on USD/MXN, I get -5 on the 30 day and 0 on the 5 day.
USD/MXN is +9 for me and about to confirm. But it has flirted with confirmation several times before and got smacked down.
Remember currencies are not stocks. They don't go to zero. The important thing if you are going to trade FX is getting good entries because the upside is very limited outside of a financial crisis where currencies traded like TSLA in 2008. LOL. The problem with FX is, by the time something looks good, like cable right now, it's too late. I saw cable back around 1.60 starting to look good and never really got a good setup. Currencies have to be milked. In and out, back and forth. The number lines try to give you a look under the hood to see things before everyone else does. For example, I have a pretty negative number line in this GBP/CAD for a while and it has not gone anywhere. This thing had a monster move last year and has gone sideways this year. So sometimes nothing materializes. I like to always make the analogy to weather. The number lines give you the read of the atmosphere but don't guarantee rain. You have no control over that but you do have control over your risk. If you can find a good risk setup, take it. Because once these things do move, you will find it hard to get in.
Wow, quite a difference between our MXN numbers. I'll have to go with yours over mine so looks like I'm a bit "off" on that one, lol...
The only other currency I'm tracking so far is EUR/USD. It was confirmed to the downside for a while but reset for me back on June 30. Made a monthly A down this month and still trading around that level but looks like nothing to do for now.
By the way, I had a number line divergence on Spooz as it made new highs into the monthly A up a week ago.
The only other currency I'm tracking so far is EUR/USD. It was confirmed to the downside for a while but reset for me back on June 30. Made a monthly A down this month and still trading around that level but looks like nothing to do for now.
By the way, I had a number line divergence on Spooz as it made new highs into the monthly A up a week ago.
Wow, quite a difference between our MXN numbers. I'll have to go with yours over mine so looks like I'm a bit "off" on that one, lol...
The only other currency I'm tracking so far is EUR/USD. It was confirmed to the downside for a while but reset for me back on June 30. Made a monthly A down this month and still trading around that level but looks like nothing to do for now.
By the way, I had a number line divergence on Spooz as it made new highs into the monthly A up a week ago.
No, don't "go" with mine. Mine are not right or wrong. If you take the trade, you will want to know why, and not have to come to me and ask me. LOL. My EUR/USD is +4. My spoos are still confirmed and have been for a awhile but my VIX reading has been getting weaker and weaker for awhile now. Copper still looks really good. When the spoos had their smackdown Copper barely budged.