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.


Friday, May 14, 2010

POT Squeeze

POT bounced a little above $100 this morning, igniting a short squeeze back to previous acceptance, which was then rejected (longs covering? shorts entering).
Here's the daily showing a minor support level at today's lows.Today's entry:
Why enter short up there? Previous day's VPOC (while under today's lows was also a VPOC).
Looking at the price distribution, today's resistance level was a previous price congestion level, take a look at all those POC's:
at
Labels: , , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)