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
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Thursday, July 14, 2011

where we're at

Another extreme negative TICK while taking out the previous day lows (but NOT BY MUCH).  The ship isn't quite sinking on these extreme TICKS. 
Two throwbacks to the down sloping trend line that we broke out of on Wednesday.  We could certainly be in a bounce-able level here.  Basically a 50% retracement at a decent support  level.  

Would certainly look to buy for a bounce if we see $129.84 price as it coincides with the original up-sloping trendline and the projected measured move out of the H & S pattern that recently set up.  I would have to think anything lower, down to $129.50 should draw in strong buying interest.

A 3d long entry was setting up on the close today.  Curious to see what comes of it, however, it wasn't quite ready on the faster time frame.  Also, there's a higher low (nearly double-bottom) seed wave going into the close, so there's that.

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