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 can be contacted via email at firstname.lastname@example.org
p.s. 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.
Wednesday, May 13, 2009
A weird day, in the sense that we didn't get any sort of buying towards the end of the day like it seems most were expecting. A few breakdown moves, but by the end of the day it was just a sideways chop.On down days like today you usually see some sort of retracement to the 20- or 50-EMA that you can play off of, not today;The SPY is sitting right at the 20-EMA on the daily. Do we dip further to the 50-EMA just to frustrate traders, or get the dip-buyers coming in to play?CL and APOL had a strong day today, will be making sure to check if there's follow-through in them tomorrow.