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.

Wednesday, June 29, 2011

buy the dip

Was watching GS towards the close yesterday because of a 3d setup.  I pulled the long entry for a b/e trade and wasn't around for the last 15-min of the day to catch the move which ended up carrying through today.  Rather than enter on the open I waited for a pullback after the first hour (almost) as price flagged and found support at a previous resistance level.

The trend has been strong these past 3 days and all dips being bought.  Entry after a pullback of the faster time frame 3/10 macd and exits at the 50% & 100% Fib. projections (measured off of the PDC to today's Open).

No comments: