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.

Friday, April 15, 2011

Just a little piece

All I wanted from this AMZN trade was a tag of the 50% retracement (measured from the PDC to today's Open).  A little over 60-cents, with a ridiculously close stop.  I mentioned the pattern yesterday of a 3/10 macd V-bottom where you wait for the Fast Line & Slow Line to cross over on the 15-min chart.  But you can anticipate this crossover by watching the lower time frame (notice how the 5-min 3/10 macd forms a cup & handle pattern before breaking higher).  I considered buying a return to the Open but the pullback entry never really set up.

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