Well this played out well. Once again the number lines got weak before market rolled over. Weekly A down in ES is 1436. This is the first test.
ES pulled back to and bounced off the monthly A up. Number lines have stabilized. That 1430 was a solid level.
Mav do you have quarterly or even 6 month levels for nat gas. What do you think of the price action in gold/silver?
QTR A up for nat gas was 3.18. QTR is over tomorrow so we get new levels next week. Gold and Silver look great. My 30 day number line for Gold is +10. Although the 5 day is back to 0. At the beginning of a new QTR we can see products drastically change character. So best to wait for the new levels next week. But price action is very good in general.
Is the Fisher book the best resource for this method? I'd like to pick something up to study this so that I can follow along with the discussion. Thanks in Advance.
Read the book for sure, because that is the 'manual' of ACD. Then read every page of this thread, especially the first 500 pages or so. You can skip the posts that call entries to make it faster. From this thread you will learn how to apply ACD to longer timeframes plus Maverick has done some interesting inter-market analysis using A/C levels and number lines. A lot of the early discussion and Q&A shows practical application of the method that you do not find in the book.
ok, thanks. i'm on the night shift right now and markets are super quite so i've actually gone through about 400-500 pages already. but i need to read the book so i can understand the terminology first. i've got a little bit of it just from reading the threads, but i'd like to get to a point where i can identify these patterns without someone's help. thanks again