Here was a 2c setup gone wrong. At least I THOUGHT it was a 2c setup, but the "trend" was certainly not decided at this point. As the breakout failed (stopped out) I turned short quickly as the setup morphed into 2c-2d-4c continuation short setup...essentially sloppy and not worth the trade. $195 overhead looks to be a significant level for AMZN...keeping an eye on it.
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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