Does anyone trade spot forex using ACD and number lines from Futures FX? CAD, CHF and JPY are expressed as the inverse of course, but that should not be an issue selecting the currency to short/buy.
I use these levels for longer term macro trades. I look to buy pullsback in strong trends or sell the pops into these levels. On the momentum side I look for confirmation above and below the A levels. When price is trading inside the monthly A levels, the A levels are price targets.
Yes, for heating oil alone, there is a seasonality trade to the long side but it's my understanding that the seasonality in the cracks are actually to the short side in the fall and the long side in the spring. There is a major squeeze going on right now against these seasonality traders who are short.
I want to share a book that i recently read...I think it will be helpful for any trader. Beginner or advanced. Peter Brandt's, Diary of a Professional Commodity Trader. Brandt is a true professional and his approach to money management and treating trading like a business is golden! http://www.amazon.com/Diary-Professional-Commodity-Trader-Lessons/dp/0470521457 Good Trading to everyone!