A question, if I may, for Mav, Robert, and/or any other proficient practitioner of the ACD method: If a friend or family member asked you for advice on a creating a plan to learn the ACD method that was both effective and efficient, what would you recommend? I trade the ES intra-day. While attempting to add longer term trades in markets other than stock indices to my trading (trades lasting several days to several weeks), I am finding I sorely miss a few aids I lean on intra-day that do not have equivalents inter-day. Although my current knowledge of ACD is quite superficial, my thought is that becoming adept at the method might allow me to use ACD as a filter to identify markets that are showing continuing underlying strength/weakness and also allow me to develop something to lean on for longer term trades e.g. long term number lines or long term A ups/downs and failed A ups/downs…things I could use in conjunction with my current method. I plan to use Fisher’s book as a textbook for learning the basics and then using this thread for implementation examples and ideas. Is there a different approach to learning the ACD method you would recommend? -river
Nice job! That is what I like to see. You did your work, you found something no one else found, got a confirmation and attacked. Good work. You even had the QTR A down to lean on for risk.
Honestly I would spend a great deal of time reading this thread. Especially the early stuff. There were some great questions asked over the years that were addressed on here that I think will help you nicely.
Nice call on the pop DT3. Now ... it’ll be interesting to watch and see if it can make it past: 1. A well established 4 touch resistance line, with today’s high hitting it. 2. A well established falling 5 touch 50 day EMA with today’s high hitting it. 3. The Monthly A Up cutting through it at 34.35 4. A weak gap up today that doesn’t exhibit much “Gap-N-Go” appearance; and 5. The fact that last Thursday it had another 52 week low and that makes over a dozen since mid July (you can see the signals at the bottom of the chart). It will be interesting
Robert, EMA, and channel lines are useless. Think about it for a second if there is a buyer in this stock that thinks its undervalued are they going to say hey wait a second it's close to its EMA maybe we should stop buying? No if they think the stock is worth $50 (hypothetical) they're going to build their position. Same thing with channel lines you're being fooled by randomness and human nature that wants to see patterns in charts. I've done a ton of work on this stuff and it's all useless. The only thing I've found to work is psychological round numbers that act as support/resistance. This has been my experience when it comes to stocks maybe others can share their thoughts when it comes to futures/fx