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
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Saturday, March 17, 2012

week ending 3_15

A quick recap
Crude Oil - Daily remains flagging.  Support was quickly bought and closed at the top of its channel (flag).  Weekly 20- & 50-period moving averages recently crossed bullish.  As stated last week $110 is significant resistance

Copper -Still basing under that $3.95-$4 level.  Remains in constructive consolidation mode

The U.S.Dollar Index saw rejection above $80.50 and if it can't get any further upside momentum going looks like it could set up a bearish 2b pattern

The EURUSD pair is oscillating within a down sloping channel.  Above the trendline (weekly) could see a bullish breakout, obviously a break below 1.265 would be bearish, but a higher low can be forming here (currently holding a 50% retrace of the most recent bullish momentum, not shown).

Gold - It would be interesting to see a move to $1600 to gauge buyer interest.  Either way, so long as this higher low (weekly chart) is defended an inverse head & shoulders is in play should price work its way back up to the neckline.


Loukas said...

Todd, thank you for your overview.

In regards to the EURUSD, it will surprising if the HL bullish scenario works out. So far everyone was/is predicting 1.16, if we break above the sloping trendline a lot of ppl will be caught covering their shorts...l interesting!

todd Sohayda said...

"everyone was/is predicting 1.16" <<I don't understand what you mean by this.