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.


Saturday, April 12, 2014

weeklies

DIA - $DJIA closed just above 16k on the week.  Difficult to tell what it may do from here.  Either way, the daily isn't quite set up to buy at this point.
IWM - may be setting up a reverse (buy) divergence on the weekly.  Would be waiting for the daily FL>SL to take place
QQQ - Rounding top pattern with approximately a $7 measured move.  Weekly downside momentum being the strongest since November 2012.  Would like to see a daily 3d setup before buying.

IBB - registering the strongest negative momentum ever.  While the trend is still intact, these momentum pushes can be difficult to completely recover from.  Though the daily is showing signs of waning momentum.  The fast line turning positive may be worth trying to buy.

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