We did about as much volume today (third lowest volume day of the year, the second lowest being Friday's) as we did on Friday, with a little juke move in the morning that was fun while it lasted.
After gapping up on the SPY this morning price eventually worked it's way back down to the PDC where a short scalp was in play (target the lower keltner channel band). The lows on the TICK weren't very extreme after we put in our little double bottom where we quickly turned around. The highest probability entry was in waiting for the little flag to set up where we got stronger volume taking price higher. After that was just a mess.
We're sitting right on in a previous consolidation rangeOK, Treasuries are ready to go lower from here, right?
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.
No comments:
Post a Comment