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 15, 2012

Thu 11_15

More down side on slightly weaker momentum.
Price bounced (nearly to the penny) of a 61.8% retrace from the June lows to September highs.

Arrows marked with an "x" are what I would have considered an entry, but I didn't take the trade as I was away from the computer.  Into the close the 15m chart set up the 3d criteria on a double bottom, so the resistance to overcome going into tomorrow is into the $136.25 area.

The day's trade:

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

As an aside, interesting to see the Up/Down volume (chart on the right) remain muted today as we made lower lows.

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