First the weekly. Broke down from a trend line and selling seems to keep overtaking buyers. Sitting right on top of that prior sideways range +/- $96The daily chart showing potential support, perhaps an area one should be alert for a potential shakeout move.
Price is consolidating in a tight range within the "flash crash" tail
60-min chart highlighting that horizontal rangeFinally, we got what looks like support range between $96-96.50
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 firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.