Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Some work in progress, you can use the initial balance indicator and enter the ACD values, also I have personal ACD version, which allows to enter specific A and C values for each instrument.
I have been on vacation for 40 days. Just settling in and CL has not disappointed in terms of VOLATILITY and thus trading opportunities.
Following are price action for Tuesday and Wednesday. If we get clear examples of VOLUME spikes as we did on Tuesday and Wednesday just twice a week- Life and trading is all GOOD.
Price staying below 98.56 keeps bears in charge. Close over 99.29 will rekindle bulls.
After MF ACD method, box trading is my favorite trading method. CL trades in a box about 60 % of the time ( on 1 minute chart). Just a guess based of my screen time. There is a reason " A level is a level till it gets broken" on of my favorite quotes from one my mentor.
I do not use the ACD method, but I do use boxes. The boxes are automatically plotted. My current box plots between 95.00 and 95.80.
60 min chart: Yesterday CL broke out to the downside, which was a rejection of Tuesday's violent upmove. My trendfilter for today therefore favors shorts. I would look for shorts near the value area as shown on the chart.
5 min chart: Based on the current ranges - or boxes, as you call them - there were four short entries near the floor pivot PP (1, 4, 5, 6) and two long entries (2, 3), which I would not have taken, as they were
- not in line with today's trend filter
- against the VWAP
Great Fat tails. I just have to visually wait and watch to see if the box is formed. Quite a bit of trial and error with this approach. As usual your method seems to be more scientific. Is the code available like your other excellent stuff? Looks like I will have to start using Ninja trader to use your excellent work.
Thanks,
Folling is a chart showing areas , I will be looking at for potential shorts. Along with my long and short trades.
CL futures
days support 92.25-90.09. Resistance 95.28- 95.48
1) failure to extend breakout now alerts for a bear failure. A close over 96.34 signals a breakout failure and a turn around.
2) the odds of this market taking yesterdays low in the next 2 trading sessions around 69%.
These are from subscription service i subscribe to by Mark Fisher.
Along with this context, I let OR and volume spikes let me decide as to how to trade. I have no clue, how i will trade without OR and volume spikes. Thus, i start from zero every morning. I try to shake out bias formed in my head from recent price action but it is tough to do.