perfect failed intra-day... and I took my eyes off it... Back shorting gold here. GLL bounced right off the low of the monthly OR, (point of no return for a confirmed A up) and here it is failing the weekly A down.
Minimum target is the monthly A up at 2.295. I think the QTR A up is also within reach if we get a really strong over sold bounce. That level is around 2.43.
Gold's sold hard on every Fed announcement. Had a low risk opportunity on my weekly and took it. It's not doing a thing, so I'm out. Yep, gold's dead, I shudda known better
Sorry for my naivety. I remember from the book obviously the daily A up is based on the OR for the day (then some multiplier). For your Weekly OR are you basing it on the Monday of the week, Monthly basing it on the first week, Quarterly on the first month?
It's just a set range at the beginning of a cycle. It really doesn't matter what you use as long as your consistent.
Tough question. We've spoken about it here a bunch, but the basic answer is: It depends. Depends on the product, how you trade, your ability to interpret price action, etc. You don't want my OR, you should find one that works for you, then you own the OR, and know why you chose it. Otherwise you might follow along into a trade and not be committed to a stop in particular. I could go on and on, but essentially you want to choose an OR that works specifically for you and your method. Sorry if that's ambiguous...
Yeah, I've read through the whole thread.. most people were asking about what the A up values were.. I don't care about your multiplier aspect. I was just curious from an OR aspect what you guys used. I was confused from Mav's Monthly A UP number but I now realize it was because I was using a NGM12 instead of NGK12. DGAZ short is the play in the stock world but unfortunately I didn't have it shortable.
QQQ up 2.66% and still a zero on the number line. It tagged my A up at 66.48, but that's it. The 5 day number line is -8, but the -4 from April 19 falls off tomorrow. Same story for the other major indicies, zeros across the board today.