Interesting development in GOOG lately. Price has closed under the daily Open for the past 7-days straight, all while closing higher than the previous day!? Seemingly drifting along the midline of this pitchfork.
Over the past two months GOOG has retraced as much as the 61.8% mark, and sits above it's 50%. There's a lot of clear air above and below price right now.
Should price explore lower from here after recently failing this steep trend line, the first stop-trigger level may be around the $585 mark. I'm looking towards that $578 mark:
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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