The Lower Median Line of our Pitchfork was breached today, while the 50-day lies just below (as an aside, price opened RIGHT ON the midpoint of a previous 2x-bar)
Also got a First Cross Sell signal. Caution is warranted at this point as the slow line has yet to follow-through and go negative.
Intraday, we opened on the aforementioned 2x-bar midpoint, while the lows today were made on the confluence of a 50% extension off of yesterday's range and a 50% extension of the PDC to today's Open:
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
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