In a previous post (click here) I highlighted a short swing setup in the SPY. The short entry trigger bar had a closing price of $115, today's closing price was $112.77. There is still potential for price to hit the 200% projection from the 08/18 gap down which coincides with the 08/09 lows.
However, what may be setting up now is a 3d long entry on the daily. So, a trigger on the faster time frame would be for the fast line to turn green.
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 email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.