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.

Tuesday, May 10, 2011

ascending triangle

Been stalking GS for a few days now based on this triangle on the daily, in particular the potential for a false breakdown.  Still potential on the long side for some short covering to trigger:

Intra-day set up as an ascending triangle, target was a measured move of the ascending triangle which coincided with a breakdown point from last Friday.  Better entry was a re-test of the Open, which I actually bought but got stopped out of :/

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