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.


Thursday, February 28, 2013

Thu. 02_28

today's trade

3-point drop in the last minute of trading.  Looks as though March may have an interesting start tomorrow.
Unfortunately didn't take the short into the end of day.....so dumb

Looking like a lower high, followed by a double-top at resistance.  Today amounted to a faded breakout.
Higher time frame (65m) still showing a bearish favored trend, the 3/10macd slow/fast line is crossed and I'd like to see an XYZ wave on the faster (15m) time frame to short but I would still suspect a higher low to be defended.  $150.80 = 50% retrace of this past move.

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