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, October 1, 2009
Caught a nice short in AAPL late in the day as it broke down from a support level (also a congestion area). The classic example of a stop sweep, as those who were long AAPPL got stopped out of their positions. It will be curious to see how it develops from here as it has potential support at the 20-EMA, but also sits within an island, and therefore has potential to fall out of an island top reversal. Not to say it will happen tomorrow, but just watch and learn how it behaves.