I've been posting this potential long setup in the SPY higher time frame over the past few days. Here & Here.
We never did get a trigger entry on the 130min chart, instead price rolled over. Still potential for a 3rd push buying opportunity, which would need to show strong momentum.
Here's how it looked on a slightly faster time frame. Notice how the fast line rolled over on the 30-min chart after giving up $146.
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.
No comments:
Post a Comment