A month of GBP/JPY through the eyes of ACD Methodology Mark Fishers ACD Methodology from The Logical Trader
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Sunday Jan 20th 2008: 1pm - 3am EST
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Comments for Jan 20th 2008:
This Sunday was somewhat quiet until later in the Asian session but we still had a few signals with the ACD system. The central pivot is gold today because I extended it into the future - as it turned out over the next few days it had some effect on price action later in the week (since i am late with this update looking into the future was much easier!).
Could the system have made you money today?:
A failed A-UP leading to an eventual A-Down, followed by a C-Down with no looking back. Shorting the A-Up failure would have gotten you some good pips for the day.
1. Failed A-Up, Taking profit at C-Down or even on the first failure of A-Down would have been a good trade.
2. The breach and retest of the A-Down would have been a good trade using the ACD system.
3. The breach and retest of the C-Down would have been a good trade using the ACD system.
4. The three trades above if you took profit professionally along the way would have made you money, and you would have a good amount left on the table. Free money if the market continues down, and it did.
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