A month of GBP/JPY through the eyes of ACD Methodology Mark Fishers ACD Methodology from The Logical Trader
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Wednesday Jan 16th 2008: 3am - 3am EST
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Comments for Jan 16th 2008:
Again I plotted the Pivot range in Pink, once A-UP and C-UP were broken there was no looking back and the Pivot range became the focus for traders for the rest of the session.
Could the system have made you money today?:
A-UP and C-UP were both broken significantly, the huge hammer ending above your A-UP at 8:30am EST was your chance to go for a 'long' ride.
1. A-UP and C-UP were both broken nicely, Bias was to be up after the C-Level was broken and with the Pivot broken leading into the next day your bias would be further. Good scenario for some short term longs. EMA's are all down on the higher level charts so likely theres more downside to come after the market takes a rest for a day or so.
2. Pivot range offered many trade opps, though not part of the ACD specifically which is the topic of this little daily report so im not going to recap.
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