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
I am always open to questions, comments, or suggestions on how to improve this blog.

Thursday, June 25, 2009

Thurs. 06_25

We closed on the highs of the day. Today's tape gave us a 3-push impulse move. The second push giving the highest TICK distribution of the move. After the 3rd push up we just consolidated most of the day. We did get a little shake-out move late in the day on a strong negative TICK, but it looks as though we're back into "buy the dip" strategy.Curious to see how price behaves with $92.50 tomorrow. Do we hit up against resistance and chop around that area, or just gap above it and use it as support?Things are looking to set up for another momentum push up, just have to feel it out for how much participation we get.Another strong day in Treasuries. At the end of the day price based at the highs. I'm thinking it might pullback and come back to base around this $94.50 level, or pop up from here.On the daily, again, we're at a resistance level. Pop or drop time.

No comments: