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
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Thursday, March 1, 2012

What sell-off?

That didn't take long.  The previous day's "sell-off" was all but erased today.  The ES closing 1.5-points from the prior highs.  

Following yesterday's rout in Gold/Silver it is interesting to note that Copper has rebounded moderately as well and never printed a lower swing low, giving us a reverse divergence.

Following the news regarding Saudi Arabia and the pipeline attack we got the Crude oil ramp up, but then afterwards it printed this long rejection candle.  Will be interesting to watch how this resolves itself, as it stands now it just appears to be a throw-back to that steep trend line.


2 comments:

Pedro Fernandes said...

Analysis good, congratulations.

Pedro Fernandes

todd said...

Thank you Pedro. Much appreciated.