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, October 26, 2011

2 short 2 long

4 trades in the SPY today.
-First short entry on 4c bearish continuation. 
-The second exit from the first trade and a long entry taken was at the Previous Month Open price (coincided with the midpoint of the gap from 10/21 (position was small but good for $1/share).
-Short entry as price exited from the flag pattern.  Covered as price recovered the PDL on tweezer lows.
-Long entry based on the 3d setup which happened very quickly and so I took the entire position off at the 50% projection.

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