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 POC. Show all posts
Showing posts with label POC. Show all posts

Friday, May 14, 2010

POT Squeeze

POT bounced a little above $100 this morning, igniting a short squeeze back to previous acceptance, which was then rejected (longs covering? shorts entering).
Here's the daily showing a minor support level at today's lows.Today's entry:
Why enter short up there? Previous day's VPOC (while under today's lows was also a VPOC).
Looking at the price distribution, today's resistance level was a previous price congestion level, take a look at all those POC's:
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