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, November 30, 2011

bull squeeze

The day in the SPY as it unfolded.  The vertical lines correspond to buying points on negative TICK readings once the market began to consolidate, but the payoff wasn't very rewarding throughout the afternoon (scalps for 15-25-cents).
I had a resting bid in at $123.86 (corresponding to the 9:30 breakout point) and sold it at IB high only to buy back higher (around vwap) as the market character began to change (forming that triangular seed wave).  The position was taken off in full acci-fucking-dentally! near the highs of the day on an extreme TICK (meant to only take half).  All-in-all an extremely disappointing performance today on a day that rewarded patience.

No comments: