Another melt up on the hourly time frame. Chasing price higher with very little pullback (as exemplified in the hourly 3/10macd).
SPY - Daily exhibiting fairly symmetrical cycles averaging 10-days. The only continuation following a pullback trigger came pretty late
DIA - zero pullback
QQQ- trigger on opening hour bar, primary objective achieved
IWM - similar as QQQ
ES - 4H
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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