Lots of 3d setups into the end of day today. Was watching a lot of them but just couldn't get a good entry. I often like to see some sort of wave (impulse, pullback, extension) to measure for a target. Instead we just got this chatter type of behavior (straight up with little pullback), which seems to be indicative of weak-hand short covering rather than a bottoming type of behavior. So, I'd be more liable to look for continued downside on these issues.
POT - had the most decent setup in that it broke out of a W bottom type pattern and traded back to previous support where it failed to trade higher.
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
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