More examples based on the previous post with a method of keeping price in perspective. Only this time, using faster time frames. A daily candle overlay on 15-min charts with S/R levels indicated (dash green or red lines, longer-term using solid lines) as well as the previous day's Fib. levels, unless there are a number of inside days where I'll usually combine highs/lows.
CSX - Big momentum day yesterday. Opened right near support and wicked the Fib. levels. Do you see the seed wave?
SPY - S/R levels aligned well with the day's Fib. levels. W-bottom breakout to $133.22 resistance (from 05/17).
POT - Just keep plowing ahead. Opened at the previous day's 38.2& Fib. level and wicked the 50%. Taking out resistance level after resistance level.
GS - Included the extremes for the past 3-days high/low, 50% retracement held and corresponds with a support level. Intra-day inverted H&S breakout failed at resistance.
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 firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.