I'm long as well, under 1300 , and added today on the pop through 1350 was just wondering what you thought. I respect your opinion and I think the ACD method, I use my own special variation, is one of the best out there.
It was tempting to try to grab it at 1265 which was a sweet failed monthly A down last month. But this has been so weak for so long, I wanted to buy it on strength. The monthly A up for me is 1370 which is where we failed to the tick so far. Once we take that out, 1550 might be in the cards. That would be a re-test of the area where we first had that major breakdown from.
Well, I took several cheap swings and whiffs before I got in at the price I've stuck with so don't give me to much credit. I just thought the risk reward was mega-skewed to the upside.
It's rare that I put out trades on here. I only like to bring up stuff that I think could be big. Such as the breakout on the 30 year Bond I called on here at 125 back in 2011. The breakout in the USD/JPY around 82-84. The bottom call on Natural Gas at 1.90 two years ago. Well, the old Maver has another one. Another trade. A trade no one is talking about. No one is looking at. A trade that has been hated for years now. A sleepy giant about to awaken from it's sleep. And when it does, it will be hungry. Stay tuned.... Just to see how many sharp ACD guys we really have on here, I'll let you guys guess first.
Crude up another $2.75 overnight pre-Europe , $111.75 . That is beyond a level where this "recovery" is sustainable. Does your trade idea involve crude?
a good solid break out of that consolidation to the upside.. in CL.. i'm in a few spreads.. i'm well hedged so everything is holding up great..
I can't think of anyone who even monitors the number of symbols you do, so I'll hazard a guess that nobody gets it. If you did not post all that insightful human stuff, I'd swear you're not human.