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.

Monday, August 23, 2010

USO pitchfork

Had some key Median Line setups these past few cycles in USO.
After two tests of the Mid-line, price returned to and broke down from the Lower Median Line.
The first congestion zone was right around the "Trigger" Line before breaking down further where it now sits at a potential support price (previous swing low).
Pitchforks seem to work really well (in terms of the setups involved) when you have some visible cycles present (non-"trend").
If no bounce from here, then $31-support is in play.

No comments: