Against Conventional Wisdom

Even though this one has not worked out (yet, as it still might), with this system I saw the possibility for a potential trade hours ago. Because of that, you have the freedom of checking the charts every 30 minutes to see how things are progressing. This truly frees up time and eliminates the need to sit and stare at the screen all day or night.

And even if this decides to go up, it doesn't bother me. As I've said numerous times, anything can happen in this market. So if that happens, the next time I sit down to trade I re-evaluate what my charts are telling me and go from there.

As I type this resistance is being hit on all three trading charts.

Hi Spzd,

I enjoy your posts. Full of information and new insights for me.

Thank you.

Hi;On your post #79 it mentioned TI,what is this?TY,I saw this mentioned before and don't know what is it.

Nice one on the 3 TF all meeting resistance.

I posted this at the time of the new Daily. And yes there was a hit to that Weekly support. That came soon after the hit on the lower charts resistance.

This one didn't work out as I thought it would. Another really good thing about this system is that it will keep you out of bad trades just as it gets you into good trades.

It's just one of the indicators. We have names, mostly basic, for each indicator.

Your very welcome. I got your info and will be getting back with you before too long.

As Dove pointed out yesterday, this system is all about balance. I have mostly been pointing out the Daily to you with the M30 ST and H1 that we use. But the chart that is the heart of this system is the 2 Hour (H2).

I don't use FA, but I do check the announcements and see what the numbers are. This morning is a great example of things I have been saying. You would think that with the mostly horrific data for the US (excluding the unemployment claims - there aren't that many workers to fire anymore) that this would have resulted in a huge up move. Not the case. The trend is down and the resistances on the trading charts have contained any up movement. In particular the H2.

This pic of the H2 shows Gold in cycle (1), which becomes a strong S/R depending on which way it is going. In this case it is resistance. And as you can see it was the extent of any price movement up from the announcements. Another thing is a long term trend indicator (2) (the blue dash-dot-dash). This indicator has moved into the trading range and should eventually cross all of the shorter term indicators. This will provide very strong support which is shown on the pic H2-2.

(1) Shows it entering the trading area Tuesday night. The thick arrows show it becoming resistance after moving into te trading area.
(2) This is the main trend indicator (white dash-dot-dash). It should cross the long term sometime today. From what I am seeing this pair may very well continue in the current downtrend without too much trouble. But as always, anything can happen.

I won't embarrass this person by posting their name, but these are the types of statements made by people who really don't understand. The first one is basically someone who relies on the Illusion of PA.

"You are not the only one.. Can't remeber when I ended with a loss after early frankie and London sessions but in NY I'm giving back constantly..
A lot of fake momentum and exaggerated reactions.."

This next one is the mis-belief of FA.

"Bad US econ data all day and still..no full risk-of mode started yet...?"

Hi;Can pls help post a chart to show what you meant by support on weekly in post 86 ?TY

Looks like the thread is getting busier sir,....
Nice trades and entries, very well explained,...

The two indicators that the arrow is pointing to is the Support I was referring to. It was broken Tuesday night / Wednesday morning and re-tested again last night.

Thks so much,with pics can understand your pointers.

Thanks for what you are doing in this thread. Very well explained and structured. I suggest all who are reading to pay attention and follow along closely.

Here is why this has gone up as it is. On all three charts is a circled area. They are showing the penetration of the Outer Bands. With the Bands flat a penetration, such as this across the board will send price in the opposite direction. Resistance is being tested again. I am of the belief that it should hold, but until this all plays out there is no way to know for sure.

Spzd;In this case we trade counter-trend or we wait for reversal
TY.

There is a process to it and you can trade those penetrations. So in this case, if you had taken the trade it would have been counter trend.

Hi spzd,

Yes indeed, "ACW is a different way to look at the markets", very interesting and useful your manner in which you explain the overall conditions and particular.
Thank you for your knowledge that you share with us.

May I have a question?
In this case, presented above, which are the entry point and the end point?

Thank you,

God Bless,

Folio

I am glad you are liking what you see here.

An entry for this type of scenario is something we go over in training. Basically what you want are the Bands to be flat. Flat Bands will act like support or resistance. In this case coming off the bottom it will many times go to the other side, which would be the top Bands. Today was an example of just that.

Thanks for dropping by my friend and I will talk to you soon,

God Bless