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. I day trade the 15-minute time frame by using the 5-minute to trigger the trade setup. I can be contacted via email at toddstrade@gmail.com


Wednesday, January 4, 2012

more 2c

Took GS long giving consideration to the 2c condition on the 30-min chart while the 15-min chart showing a stark reverse divergence.  The faster time frame showing the inverse H&S pattern and 3d criteria.  First target at the intra-day supply point (coinciding with the Open price).  Second half taken off on failure to follow through.  Not a great trade, but it worked out.

Here is another example of the 2c setup occurring in Crude Oil.  The 50% target was hit without a hitch, but the 100% projection was hit only at the end of the session.


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