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.

Thursday, August 2, 2012

wide range

A very wide overnight range due to the ECB puppet show.  With such a wide range I like to include a 25% Fib. projection to give a more reasonable initial target should the o/n low break.  Missed it by 3-cents in this case.
Nice pullback off the Open (vertical blue dash line) to the o/n_range midpoint.  There are two 3/10macd indicators on this chart, the top one just reflects the 15-minute time frame while the bottom one reflects the 5-minute.

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