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.

Tuesday, February 16, 2010

nothing fancy

A low volume move up to fill the gap (on the SPY) left from Feb. 4th. The initial gap up was faded down to the 50% level (Fibonacci retracements snapped from the previous close to the open). Market internals were bullish all day, no reason to be leaning short:It was a sleeper of a day, but price did display some high probability setups in the form of (1) Price testing/finding support at the Open range high, (2) Resistance becoming Support and (3) a base break leading to a gap fill.

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