Gap up, gap fill (-50% projection of overnight range), closed near highs.
Opening swing high was at the mipoint of the overnight range. The overnight high played a key pivot in the afternoon/late-day session. Finished the day right on the +100% projection of the overnight range.
Advance/Decline started off strong again this morning. Dipped negative, but recovered. Notice how the zero-line played support-to-resistance-to-breakout.
Up/Down Volume was positive all day long.
15m & 5m with 3/10macd - Would liked to have traded long the continuation move around 11:15am into the previous day's high, but wasn't at the computer. I always like how the 20-MA acts as support/resistance on a 15-min chart.
Daily showing a bounce at the 50-MA, the "faster" time frame (130m) looks as though it could stand to put in a higher low.
Updated hourly chart showing the 3d-criteria bounce, however now there's a sell divergence showing. $144.50 still an obstacle to overcome.
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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