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.


Monday, November 23, 2009

GS wolfe setup

Here's a trade I took this morning in GS based on the Wolfe Wave setup.The green horizontal line was my entry price. The white arrow was my entry bar. Again, I need to display some patience and enter on a green bar with some range in it.

Take note of support levels going into the #5-point in a bullish Wolfe Wave. Today's example in GS saw the 5-point come into a resistance level from the previous session (also the PDO!). More simply put, the entry was merely a pullback after a momentum impulse that coincided with a Resistance-turned-Support level (similar to the Holy Grail setup).

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