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.

Thursday, May 27, 2010


A lot of overhead supply in this market. It seems we gear up for a "healthy" bounce only to get caught up in thickets of supply. {updated chart}
Though that Euro issue just doesn't seem to be going away...{updated chart}
However, bottoms don't happen in a day. Currently there is a potential inverse Head & Shoulders pattern here...{updated chart}
looking for buying interest between here and 1060. Any lower and I would suspect a move beyond the recent lows.
Looking back at February's sell off you can see how much energy goes into a bottoming process.
On the way down, rallies are held cautiously and selloffs are taken aggressively, continuing a lower low/lower high profile.On the way up, rallies are held cautiously and selloffs taken aggressively, causing a shift to higher highs/higher lows. In the process, consolidation ranges build up (acceptance of price) until a break out/down occurs.

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