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, July 6, 2011

last two days

Just some charts of the past two sessions in SPY.
Worth noting; the lack of negative TICK (blue histogram), the time of day when the "bottom" was made (9:50-10:10am CST).  Also, the Fib. projections off of the bottoming seed wave (100% projection reached) and the support/resistance levels based off of breakout points (where price broke out became support, where price broke down became resistance).

 Higher Time Frame:

 Daily; the overhead gap resistance on a reverse divergence looks to me like it will be worth a try at shorting:

Just an observation; When the 3/10 macd is in its 1a phase and the Moving Averages are oriented bearish with such a wide space between them as is the case in the above daily chart, one can look for a short opportunity at resistance.
{Update} I should have amended the above statement by saying; Unless we gap above resistance, which has been such a common theme these past few years.  This morning's gap up was just ridiculous! :/

No comments: