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.


Tuesday, October 13, 2009

chop

Another low volume choppy day today.
The SPY continues to hover at the highs (almost looks like a tri-star pattern on the daily). Take note of the 3 most recent momentum pushes up creating a bearish divergence, while the most recent two momentum pushes down gave us a bullish hidden divergence, yada yada yada.
We'll see what we get tomorrow in terms of a momentum push, but right now the 30-min is looking a little like a Head & Shoulders pattern.
And finally today, the 1-min SPY with TICK (molestor). A couple divergences that could have been good for scalps or even intra-day swings. Nice job Richard!

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