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.
Thursday, September 17, 2009
zoom out on GMCR:closer up with technical indicators. Lower momentum with 3 impulse pushes that haven't gotten beyond $70. Notice that between the first and the second push momentum registered a lower low, while price put in a higher low leading to a "Slingshot" in price.That shooting star/gravestone doji type candle seems almost reason enough to watch for increased selling. The only thing that might be able to drive GMCR higher could be some sort of short-squeeze.