The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Wednesday, April 15, 2009

price slings

Price held the long-term trendline and isn't giving up the gaps, or the bearish moving average orientation. Not to mention the last 10-minutes of the day are beginning to become awfully predictable (currently at 1 p.m. PST the SPY volume spike is off the charts).
I'm going to let my charts speak for me today, as I marked them up pretty good. Here's the 5-min chart of SPY. Some nr7 doji reversals for ya. The red/green vertical lines represent (as always) the "First Cross" entries.and here's the TICK divergences lining up with price highs/lows.And here I wanted to highlight the "Slingshot" setup once again, from today's tape off of the SPY 15-min chart.Rally caps on tomorrow?
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