Long QID early in the morning. Two entries. The first I took a small loss on as the market was still coiling in the triangle pattern, the second entry had the follow-through that I was initially looking for. Partials taken at the 50% & 100% projections. I did keep 15% of the initial position on as a runner but took it off when price came back to the 50% projection (not indicated).
Covered the remainder of my SPY short position from Wed. afternoon before going long later today. Partial exits taken at the 100% & 200% projections.
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.