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.


Friday, June 22, 2012

SPY week

Weekly overnight and regular trading hour ranges.
Monday:  Stayed within the overnight range


Tuesday:  Breakout of the overnight highs just after the open, extending out to the 100% projection
 
Wednesday:  FOMC day.  Overnight highs were contained, while the lows broke and extended to the 100% projection lower, finishing right at the o/n session's midpoint.

Thursday:  Big trend day down.  Notice how long price oscillated around the o/n_lows before breaking.

Friday:  For the most point held the midpoint before extending higher to the 50% projection.


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