April finished the month selling off of significant Fibonacci Retracement numbers.
The Dow Jones Industrials tagged the 61.8% level before selling and closing in a shooting star candle.
The S&P500 came just shy of tagging its 61.8% giving a similarly bearish candle as that of the Dow.
The Nasdaq Composite retreated from a 78.6% retracement
And similarly, the Russell 2000 sold off from its 78.6% retracement
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.
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