TLT - A three-layered approach to keep things in perspective; the long-term (Moving Averages) was aligned strongly bullish, the intermediate (15-min 3/10 macd) was strongly bullish, and the short-term time frame triggered a buy when the fast line turned positive.
FCX set up a (counter-"trend") buying opportunity on a momentum buy divergence which on the 5-min time frame was a 3d setup. The Fib. projections were based on the 1-min chart where the seed wave was easier to identify. Only held for the move to the Open.
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.
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