USO filled it's previous day gap and set up two narrow range consolidation shorts. The first one being a more aggressive short early in the morning off of a break of the previous day's low(PDL). This set-up was more risk than reward; after the break price became choppy once it failed supprt from the PDL and S2 pivot (also coincides with Fibonacci S/R levels, not shown).
The second NR break set up back around the S2 support base.
QLD set up a tweezer reversal/bottom on it's 15-minute chart. This coincided with trend line and Moving Average support, target being the previous swing high.FWLT failed the $51 price point and gapped down today. Price consolidated into a symmetrical triangle before triggering a short.
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 firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.