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 3, 2011

Many 3d setups

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.
ANR - I actually traded this setup, but got stopped out for b/e + commissions.  Why I didn't re-enter on the pullback is beyond me.
IWM - Actually the best entry of them all, but didn't catch it in time.
CDE - I entered this one long, but pulled it b/c of the weak behavior in the metals and market in general.  The pullback, much like that in ANR, was a great entry with a target of vwap

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