For the sake of having something happen today, we attempted to fill the morning's gap.
We had a subtle Head & Shoulders bottom pattern (in QLD) take shape today in that mess of choppy tape. The neckline broke out solidly, retraced and held as support before running for a gap fill attempt. The retracement to the neckline of the inverted H&S also coincided with a 20/50-EMA crossover.
After the volatility expansion we had another Head and Shoulders pattern evolve, on the bearish side this time (which could allude to more downside for tomorrow).
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 email@example.com
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