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 toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Friday, December 2, 2011

S/R

SPY traded price ranges from 11/15, 11/16, and 12/1

S/R levels from 11/15-16


Adding S/R levels from previous two days we have this (green horizontal lines)

Put them together for today, you have this:

So, if price has been tested I can terminate the previous price level and add new ones in as they become significant (white lines).  Not perfect, but what is?  The results are helpful though and at time uncanny.


2 comments:

REXXY said...

hello. unrelated but I added your MACD methods (found them fascinating) to my chart, felt like sharing. Todays action on EURO.

http://a8.sphotos.ak.fbcdn.net/hphotos-ak-ash4/390848_2683401242780_1188827649_33024529_82345621_n.jpg

todd said...

Thanks for sharing Rexxy. Notice that the 4c is just a bear flag continuation. Also, the stochastic is somewhat redundant, no? When it is above the midline the macd fast line is > 0. I understand that it points out divergences at times that the macd doesn't, but when at what point is a divergence actionable if we believe the adage "price can remain overbought/oversold for long periods"?
Just my 2-cents. There are many things on that chart which jump out at me. If you would like to swap charts/ideas, feel free to email me at toddstrade@gmail.com
cheers!