The SPY set up the 3d criteria while the trigger coincided with both a 3d criteria on the 5-min chart and a trend line break.
POT had a decent trend to it and price continued higher after it pulled back. Two entries with very small stops in place.
SINA was a heart-breaker. Position size was small and exits were way too soon. Trade was based on the 3d setup. First up-arrow long and sold at the highs of the day. Second up-arrow long and sold at around $64.80 (was shooting for $65.38 resistance but what I perceived as failure under $65.25 made me get out.
and of course here is what it did afterwards...uggh
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.
No comments:
Post a Comment