Registered: Jan 2012
Posts: 86

This thread will be about what I refer to as trading levels. Trading levels have been around as long as there have been markets. Nobody invented them and nobody has a patent on the right values.

These are not the holy grail and like any other method or tool, sometimes you get the bull, sometimes you get the horns.

This thread is not about ACD. There is a very extensive thread already devoted to ACD with plenty of useful information. Please post any ACD questions or comments there. Thanks.

About me ... I have been a software developer for 20+ years (longer but saying only 20 makes me sound younger). I have written hundreds if not thousands of useless indicators, backtesting apps, and custom charting apps before stepping back and realizing a simple approach is the most powerful approach. Einstein had it right when he said "Everything should be made as simple as possible, but not one bit simpler."

So I will periodically post charts and comments on a levels I am watching on some of what I trade. Down the road I may spin off another thread in the Automation forom on the automation project I am working on utilizing levels as that gets closer to completion.

Thanks

Registered: Jan 2012
Posts: 86

What is a level to me? I use levels to mean decision points.

Expanding on what I had originally posted in the ACD thread earlier today, you can see this chart of NatGas has hit a pre-determined level, or decision point if you will. In this 60 minute chart it has stayed at or near this level for the past 10 hours.

But looking at this chart by itself without context doesnt really tell you anything other than we have confirmed that this is indeed a decision point and one side will eventually say uncle (accounting for the usual headfakes).

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This has been downloaded 283 time(s).

Registered: Dec 2010
Posts: 266

Are you referring to Support and Resistance when you say levels or decision points?

Registered: Jan 2012
Posts: 86

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Quote from Mr_You:

Are you referring to Support and Resistance when you say levels or decision points?

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This has been downloaded 191 time(s).

Registered: Jan 2012
Posts: 86

I want to expand on the context issue, but one quick sidetrack if I may.

This was posted on Tuesday around noon when I posted on a different thread that Nat Gas and Oil were rising into decision points.

"Dude, your levels are off. I got confirmed weeklies in NG and USO"

Since that time Nat Gas and Oil have pulled backed significantly off of the decision points that were posted as shown in the attached chart. Holding longs at those levels proved to be quite painful.

That is not to say the bias on either is short, I am not saying that, and I do want to get back to context which gives us the best chance of being on the right side of the market in all timeframes. It is also not to say I am right and someone else is wrong. I have been wrong more times than I would care to admit.

So my point, 2 fold ... First, have an open mind. Your method and mine can always be improved, tweaked (if the statistics prove you out). You or I haven't cornered the market on perfection.

Second ... call bullshit when you see it. This is a forum, not a worship center to a trader or a methodology.

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This has been downloaded 143 time(s).

Registered: Jan 2012
Posts: 86

Crude ....

Liking a long in the area of 102.5 if we get there and the reaction to that level is good.

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This has been downloaded 153 time(s).

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