Gap up, gap fill (-50% projection of overnight range), closed near highs.
Opening swing high was at the mipoint of the overnight range. The overnight high played a key pivot in the afternoon/late-day session. Finished the day right on the +100% projection of the overnight range.
Advance/Decline started off strong again this morning. Dipped negative, but recovered. Notice how the zero-line played support-to-resistance-to-breakout.
Up/Down Volume was positive all day long.
15m & 5m with 3/10macd - Would liked to have traded long the continuation move around 11:15am into the previous day's high, but wasn't at the computer. I always like how the 20-MA acts as support/resistance on a 15-min chart.
Daily showing a bounce at the 50-MA, the "faster" time frame (130m) looks as though it could stand to put in a higher low.
Updated hourly chart showing the 3d-criteria bounce, however now there's a sell divergence showing. $144.50 still an obstacle to overcome.
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.
Showing posts with label 1c. Show all posts
Showing posts with label 1c. Show all posts
Monday, October 15, 2012
Tuesday, October 2, 2012
Tues. 10_02
Choppy day.
A key for the above chart to define the horizontal lines and dots. For further explanation, see this link:
A/D_line started strong, but faded. Notice the interplay with the zero-line.
Most of my trades today were for small losses. Should have taken a long into the close on the momentum buy divergence and resulting squeeze, but I didn't. Blue arrows being entries, black being exits.
Still potential for a bullish move on the higher time frame, particularly over $145.00-$145.30s
A key for the above chart to define the horizontal lines and dots. For further explanation, see this link:
A/D_line started strong, but faded. Notice the interplay with the zero-line.
Most of my trades today were for small losses. Should have taken a long into the close on the momentum buy divergence and resulting squeeze, but I didn't. Blue arrows being entries, black being exits.
Still potential for a bullish move on the higher time frame, particularly over $145.00-$145.30s
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