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.


Monday, November 5, 2012

Mon. 11_5

Decent 3d criteria setup today.  As a reminder, the 3a which preceded the 3d is the resistance which price needs to overcome, so in this case the horizontal lines on the 15m chart reflect this concept.

Here is a look at the day with key levels.  Price held the overnight lows, then used the overnight range midpoint for support twice throughout the day.  While the overnight high and opening swing high (also the Open print and previous day's low) acted as a support/resistance pivot.

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:   

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