Today was nearly a mirror image day of yesterday. We gapped up and failed $93, price filled the gap and returned back to a previous consolidation range. Being that we gapped up and price returned back to the PDC a short scalp was in play and turned over a better result than it did yesterday. The remainder of the day was spent in a sideways chop.
Price is awfully choppy these days. Maybe next week will kick-start some momentum.
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.