A seed wave is a momentum move that follows a down trend which forms its first higher low, sending prices higher. Since the March '09 lows we have had 3 such seed waves.
The second seed wave coming off of the July 2010 lows has already run its course culminating at the 200% Fib. projection. The other two, however, are still in play.
Wave 1's 150% projection lines up with the Wave 3 50% projection around the $140 mark. While the 200% projection of Wave 1 has a $154 target, nearly lining up with the 100% projection of Wave 3.
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
As I have been posting less frequently I am open to questions/comments/suggestions