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.
Friday, September 25, 2009
read the chart
I opened up a random chart and went through drawing trendlines and picking out patterns. It seems like a helpful exercise in recognizing patterns that you can pick out regardless of the time frame. Of course hindsight is a completely different matter, but if you get in the practice of just watching price and the patterns it creates it may give you encouragement in real time. recognize how price has a tendency of correcting/pulling back from momentum movesalso notice how trendlines (whether horizontal or at angles) morph from support to resistance or from resistance to support.