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, February 10, 2010
Dollar extension
I'm a little late on posting this chart, but it's a nice textbook example of a 100% Fibonacci extension out of a bull flag. I chose the starting price as the bottom of the large green (momentum) bar, as it marked the beginning of the move up.
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