I think I'm going to switch over to a simple price and volume chart rather than the price with TICK that I have been using. After all, it's not like the TICK is a leading function of price. Now I just need to decide if I should present it as the 5-minute time frame, or faster, like in the chart below.
Today saw a continuation of the previous day's selling after an attempt at testing the overnight highs which coincided closely to the o/s_high and just slightly higher than the Open and previous day's lows.
Advance/Decline and Up/Down volume slighly divergent from yesterday's readings.
15min with 5min and their 3/10macds; another bear flag continuation (4d-4c)
We're coming into a point where "dip-buyers" should become interested; a confluence of the 50-day MA, the lower-middle point of the "M" pattern (what's that called?), and it is also the midpoint of the impulse candle from Sept. 06. Also, there seems to be a buy divergence on the "faster" time frame. Early morning selling tomorrow could present a buy setup (potential on the 15-min (above) for a 3d criteria setup).
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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