No, we confirmed a monthly A up along with a QTR A up and now a weekly A up. Spoos confirmed yesterday.
i would think your answer would be common sense.. not to be rude.. but read a little bit up on ACD and find out what it A ups , and A downs mean.. A-Up A price level set at a specific number of ticks away from the opening range that is determined by the A values for a particular stock or commodity above the top of the opening range. This is an entry level to establish a long bias. it didn't fail the A-up... there are different ways people interprete this methodology as i have seen.. but this is a decent description of failing point A.. Failed Point A A failed point A set up can occur based on one of the two following scenarios: (1) the market may approach a Point A value and fail to trade at that value, subsequently reversing its direction and trading back into the opening range. Or, (2) the market may approach a Point A value, trade at that value and even potentially through it. However, it does not stay at the Point A value for at least half of the ACD opening range time frame before reversing its direction and trading back into the opening range. read a little is my suggestion.. .. be informed of the methodology then your questions will be more interesting.
Not only will my posts be more interesting, but also I could understand all the terminology of the ACD method if I do the homework/homefun. I plan on doing it when time permits. Based on the definitions you posted, this method seems like a lot of channel calculations. Just an uneducated guess. I was never a good channeler and I don't have much confidence in channeling although the logic behind channeling makes sense.
you may want to check out the videos that were posted umpteen times, there is a recent webinar at topstep that is archived. or read the beginning of the thread. I thought the discussion of breakout trading mean reversion was really good. I have found that price tends to revert to the open more often than not. Also the number lines that you create yourself are good because they engage you in a certain product. I think daytraders do this naturally, then there's the pivots pivot ranges, good news/bad price action. Personally I like Fishers style reminds me of the pit trader mentality, be big when you have conviction,spread/hedged when you're conviction is low. In most of his live shows he spreads products I think Mav can articulate why better than me.
Mav, great thread Are you saying, for Forex, you ignore any data before 01:30 (CT) and after 10:00 (CT) for any of your ACD analysis? Or perhaps you use a LON start and use the data up to 16:00 (CT)? Or.....?
Welcome aboard. I use the 2:00 to 2:30 am central time open for London and I track the full 24 hour day.
Just want to point out some key levels here in the metals. Gold after having a huge run has pulled back to the top of the QTR A up. When markets take out A levels they have a tendency to retrace back to them. This often provides excellent entries and tight stops. It also happens to be in the same area as the monthly A down. Let's just call this area 1315 to 1325 in Gold and 21.60 to 22.00 in Silver.
Thanks for the welcome and the response. Fish I understood uses 1:30 to 2:00 AM (CT), did you experiment yourself or you just tried 2:00 to 2:30 AM (CT), and found it works for you? Do you use 16:00 (CT) as the close, to evaluate ACD?
I believe London markets open at 2am Central time but it gets tricky with daylight savings time as they shift about 2 weeks after us. For the purpose of daily data I use midnight as the end of the day. Since FX is 24 hours, as long as you are capturing the 24 hour volatility I don't think it makes much difference.
For each of the two annual daylight changes, there is a one hour shift in the relationship between the US and Europe as one leads the other. UK 'opens' at 2AM (CT), but Europe 'opens' at 1AM (CT). Fish, I thought, seemed to use 1:30AM (CT) to 2:00 (CT). It seemed to me, based on market action, that on balance that might be the best period, but its not clearcut. If you use midnight (CT), I guess thats giving you the close coming off the Asian session and coming into the European session. As you say, its all relative, and as I assume its working for you, it must work! Thanks for your responses