The ACD Method

I did. I find the failed daily A downs to be excellent entries into longer term swing trades. I hate momentum entries on longer term oil trades.

 

Crude's 30 day number line down to -4 now and the 5 day is +6. Almost hit the monthly A up today.

Gasoline crack up almost 2% today. Heating oil crack up about 1/2%. Both cracks triggered a buy early this morning after taking out the weekly A ups.

 

I wanted to just mention that as one in the process of learning ACD, I do find it useful to be able compare my A levels to yours and others from time to time. You mentioned above that you had weekly ES at 141875 (mine is 141950) and CL at 8641 (mine = 8650). On a monthly, I have CL at 8962 on the upside so close but not quite there yesterday. As a more general question, do you use the same formula /% of ATR across all products in each time frame or have you found it useful tweak it by product?

While I'm quoting Maverick here, I'd be interested in any and all perspectives on this.

Thanks for any feedback.

 

I use different opening ranges and different time lengths for the OR for different products. The ATR % I keep the same to make even comparisons.

 

OK, the 5 day number line in natty is back to +1 now so this monthly A down level is a good level to lean on. As you recall last week I posted this when natty first hit the monthly A down but we had a weak 5 day. We have worked off that downward momentum now.

 

I just finished reading "The Logical Trader" and I was wonderig what people are using as OR since electronic trading has taken over since the book was published. Are people still using the old floor opening times? Using the time frames with produce the most volume? I am sure the answers to this have been discussed somewhere in these 1000+ pages. Sorry if this is a repetitive message.

 

NG thru the weekly A up...lets see if it can confirm

also tagged the monthly pivot

 

Yup, perfect bounce off the monthly A down. Upside target is the 3.88 level.

The 5 day number line is +4.

The 30 day is +8.

 

ES bounced 13 handles off the weekly A down almost to the tick. Upside target is now 1388.50.

 

Turned out to be a great level to lean on. Nice pop off the monthly A down. Almost at the upside target.

Current number line values:

5 day is +4

30 day is +10