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.

Sunday, March 25, 2012

week ending March 23

Gold possibly setting up a relief rally should it clear 1667

Copper continues to bounce between 3.72 and 3.93 and is just oscillating within a wedge as it comes into play with the 200-day MA.  The daily formed a harami, but confirmation above is necessary.  A break lower could find support at 3.64

US Dollar index threatening a trend line breakdown.  Daily put in a small bear flag while the weekly showing a 2b short setup

Similarly, the EURUSD pair is not backing away from that overhead trend line.  A break of 1.33 could lead to that 1.345 level

Crude Oil - Continues to flag.  A lot of buying tails above $105 on the most recent weekly candles.  A break below $104 could cause long positions to be covered, while $110 is still a significant resistance mark.

The Russell2000 index is 4.4% from all-time highs.  While we saw a false breakout to start the week price pulled back into its comfort zone under 830, however, it closed the week right back at the weekly open right on the 830 number.  This could be a big tell in the next week or two as to whether it is going to try for an all-time high.

The Transportation index pulled back pretty hard this week, forming a double top.  Watching to see the speed in which it comes back to test the 5300's this week.

XLF formed a long-legged doji on the weekly.  the pullback from momentum has been pretty mild so far.  Still inherent strength

XLE came down into support.  Harami on the daily.  $75 a big number to overcome

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