Have been watching this 3d set up on the SPY weekly figuring it might initiate a long signal in a week or so, but today's daily action was a trigger to enter long. A pullback on the daily may take a while, but this higher time frame momentum wave is a doozy if there is follow-through overhead.
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 3d criteria. Show all posts
Showing posts with label 3d criteria. Show all posts
Wednesday, November 30, 2011
Tuesday, September 20, 2011
FAZ end of day
FAZ long entry into the end of the day. A 3d setup; Entered on the 1st arrow (to the left) but scratched it. Entered again on the 2nd middle arrow, though a better entry may have been to wait for the 50% retrace (3rd up-arrow. Trailed stop as price tested the open and half taken off at the 100% projection. Second half taken off in the last 10-minutes.
Tuesday, August 23, 2011
trend day
Mentioned last night that the SPY was potentially setting up a 3d long criteria on the daily time frame. This morning started off with a 3d setup on the 15-minute time frame. Worked quite well. When I first brought up this 3d criteria months ago I had mentioned that it's typical of a short-covering phenomenon; today was a perfect example where the daily was anticipated to set up this way and the intra-day time frame was aligned as well.
Here is an updated chart following last nights post. Bear in mind that it is a higher time frame setup. The anticipation here is to look for a gap fill, or attempted gap fill.
Here is an updated chart following last nights post. Bear in mind that it is a higher time frame setup. The anticipation here is to look for a gap fill, or attempted gap fill.
Tuesday, June 14, 2011
more of the same
Nearly every one of the 25 names I watch set up the 3d criteria going into the close yesterday, a scenario which was hinting at today's relief "rally". These wide gaps are more tricky, so you either enter on a faster chart or wait for a pullback later in the morning. All of my watch-list technically triggered the 3d entry on the close of the first 5-min bar, so you could possibly just enter and place a stop below the 50% retracement or whatever support level you feel is reasonable.
AMZN - same resistance pivot as yesterday turned support today, 2 entries
CNX - was ready early
better viewed on a faster chart, the stop was very close by
CAT - ready shortly after CNX, formed a nice cup & handle to enter. Would have been a good one to re-enter later in the day as well
AMZN - same resistance pivot as yesterday turned support today, 2 entries
CNX - was ready early
better viewed on a faster chart, the stop was very close by
CAT - ready shortly after CNX, formed a nice cup & handle to enter. Would have been a good one to re-enter later in the day as well
Tuesday, March 29, 2011
Wednesday, March 2, 2011
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