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, November 8, 2012

thu 11_08

Just some updated charts.  Not much to say about them other than it being a continuation move of the previous downward momentum.

SPY price closed just under the 200-day MA, just within an untested open gap zone (highlighted below) and just shy of the first target (50% projection) from our ABC wave.

A lot of little scalp trades in the late afternoon (Blue arrow is entry, Black arrow is exit)

The overall with key levels

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:   

Final chart showing the daily cycle count.  At best we would be looking to buy a divergence for a bounce, which wouldn't be entertained until the faster time frame recovers (green fast line or 3d criteria).  

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