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, January 20, 2014

GC

Updated chart from the ones below, to show the fast line/slow line cross providing a warning if long

Actually a bit surprised that Gold continues to squirm higher.
The daily is putting in fairly symmetrical cycles and is at a point where one side will show their hand and we'll see if bulls or bears are stronger here.  The bulls have a double-bottom on their side, while the bears have everything else (moving averages, trend lines, and overall trend).

The 4-hour came so close to it's initial target.  It still has an opportunity to achieve it, but it can be sketchy holding a position on a fairly late entry so close to resistance (a for sure exit would be the fast line/slow line cross on this time frame's 3/10macd (lower subset indicator).

a better look at the cycles

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