IPI broke out of a base yesterday and had some follow through this morning after a narrow-range consolidation.CNX has been in an uptrend before recently retracing slightly.
The first 15-min bar in CNX had it's highest close since the past 7 sessions. It then printed a narrow-range "high-wave" candle at the top of it's previous bar's range. Expansion was swift beyond that.
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.