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 PDC. Show all posts
Showing posts with label PDC. Show all posts

Monday, July 13, 2009

SPY reversal

Just a reminder, this week is OpEx come Friday.
As mentioned in previous posts, when price gaps up only to return to the previous day's close (PDC) I look to scalp short, with a target of a previous support level.
The selling this morning didn't look to have strong momentum behind it (as evidenced on higher time frames), so I wasn't looking for an extended downside play.
Price quickly recovered and based back under the PDC level providing an excellent entry long: