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
I am always open to questions, comments, or suggestions on how to improve this blog.
Wednesday, August 12, 2009
I'm not sure what sense it makes to have these FOMC minutes released during market hours. The bots own the tape after 2p.m. Anyway, we'll have to see follow-through tomorrow. Who cares about technical corrections at this point, right? We just keep pounding things higher...on lower and lower momentum.We congested a little around my resistance pivot and held it as support later in the day, but I'm not about to get involved with FED day unless I'm in SIM mode or trading 10-20 share lots.The 15-min chart did show a First Cross buy entry on the open this morning:Let's see what the reaction is tomorrow.