Update on primary targets reached.
SPY - extended to a secondary target. The way the Daily is oriented leaves open the potential for a squeeze move higher. Unless it breaks down solidly from $184.50 I am on alert for a move higher.
DIA - bounced solidly off of the primary target. The daily 3/10macd fast line ticked higher so I would be looking to buy a positive fast line change on the hourly.
IWM - hit a tertiary target and yet maintains a hold above support. Double-bottom potential for most indices.
QQQ - secondary target hit, yet would still consider buying a positive fast line change on the hourly
XLF- not much has changed here.
IYT - Had a positive fast line change so may have been worth picking up just to have some long exposure in case of a gap up tomorrow.
EURUSD long potential
ES 4H short trigger; actually wouldn't be surprised if this were stopped out
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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