BTW, that plus 12 number line did serve you well today. The market was weak all day and CL actually confirmed an A up this morning fighting the early trend of the market.
Thanks maverick. Never thought about using number line to make a judgement of a good A up or A down but it makes all the sense in the world.
I dream often that Mark Fisher writes a follow up to "The logical trader" incorporating changes in the market since he wrote " The logical trader".
. Came across this on web. Author only has this much to share. Wondering if anyone else has experience with first 2 days of the month etc.. MF talks about first 2 days of the month being important reference points for rest of the month. Hopefully i don't have to study for 7,000 hours ( as author ask) to understand this (lol). Opening Range Break Out Defined by first two days of the month Be wary of the pivot 1st indicator: Opening Range green lines (determines supply and demand/bias of market, defined by the first 2 days of the month 2nd indicator: Shadow pivot blue band (information taken from prior month or time period) shadow pivot band: (high+low+close)/3 = A (high+low)/2 = B A-B= R=Differential A+R = Top Band A-R = Lower band Concepts: You either want to trade through pivot or against pivot. The opening range is more important though because it simply measures supply and demand. If market breaks above opening range and holds you create a long bias until the market breaks below opening range. Add a the pivot to the scenario and create tighter stops and explosive outcomes. Narrow pivot ranges relative to prior months generally result in larger moves. Most important concept is know where you will get out. This works for all markets that are liquid AND volatile in any time frame. Spend 7,000 hours studying this and you will understand.
I don't know man. I've studied this for 10k hours. This guy says you can do it in 7k hours. Sounds like he is looking for a shortcut. There are no shortcuts in ACD. Ten thousands hours!!!!
Nark Fisher has following numbers for first of the month for various instruments; pivot low pivot high CL 77.80 78.19 HG 3.0865 3.1302 DX 79.698 79.859 GC 1644.20 1650.93
was gonna mention that spooky! http://www.businessinsider.com/high...d-the-threat-of-a-currency-flash-crash-2011-9