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, August 13, 2010

SPY Wolfe Wave done

Bullish Wolfe Wave failed at resistance

Updated chart of the SPY bullish Wolfe wave that was last posted {here}Things are getting awfully stretched, which could bode well for the target (red) line being met (+/1 $115-116). Things to watch for imho would be an exhaustion move with large volume before retracing.
at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)