Nice failed weekly A up though. That's a pretty ugly hit it's taking. AAPL and GOOG have really skewed the SP 500.
Courtesy of Bespoke Investment Group.
The ACD Method
- Thread starter sbrowne126
- Start date
Nice failed weekly A up though. That's a pretty ugly hit it's taking. AAPL and GOOG have really skewed the SP 500.
Courtesy of Bespoke Investment Group.
Well, the Euro bounced off that QTR A down. I got a 30 day confirm to the downside on it yesterday. Ironically my new indicator gave a screaming buy.
So I ended up not taking it. I'll watch the number lines the next few days to see if they stabilize.
Mav, would you take a trade against a confirmed number line? I mean the NL is supposed to measure the overall health of the current movement.
Number lines are tricky in that they are lagging. In some cases, by a lot. One way to try to solve this issue is by tracking the 5 day and seeing if the price action is being generated at the front end of the number line or the back end.
One other thing to keep in mind, the number lines main purpose is to provide an insight into potential follow through on a trade. If the number line is very weak, you can still get a pop out of the market but follow through is probably not likely. So could you trade that "pop"? Sure. But you need to understand that there is probably limited upside. But if your trading is very short term, that might be more then what you need. But if you are trying to capture long extended moves, it's going to be tough to get that fighting the number lines unless they change.
You called the swing low. Nice King!
Just a matter of time before WTI takes out the swing lows back in March.
