Some pretty big volatility near the end of the day. Over the past 5 sessions the moving averages have had a bearish orientation (on 15-min. chart), where some high probability trades were present in rallies off of previous support or sell-offs away from the 50-EMA (on 15-min. chart). The majority of the morning was spent chopping around pivot support that led into a consolidation triangle, failure of which brought price to previous day support (a momentum divergence hinted at a turn-around after the hammer candlestick).The Q's were left with an indecisive high wave candle and holding on to trend-line support levels.
I would assume we move decisively in one direction or another 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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