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
I am always open to questions, comments, or suggestions on how to improve this blog.


Tuesday, November 13, 2012

Tue. 11/13

Resistance resisted.
By the looks of the S&P Up/Down volume there was muted participation in the early morning squeeze/rally.


Prices advertised higher are not catching bids and prices advertised lower continue to be accepted.  At the same time, the U.S. Dollar index is coming into a 50% retrace of the previous August-September selling, with thinner and narrower trading ranges.

We can possibly view today's selling of the morning momentum as a throwback to a broken trend line, where we've seen 3-pushes to a low with today's higher low on the close.  However, today also so a lower price low (on the opening push) followed by a lower high, so the impetus is with the bears.

Today's trade:

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

15m & 5m with 3/10macd
I didn't take the 1st up arrow (on the 5m price chart) long entry.
I also probably "should have" taken a short entry just as my long failed at the 11:00am up arrow.

2 comments:

Attitude Trader said...

Nice job man!

Thanks for posting your trades.

-AT

todd Sohayda said...

Thanks for the comment :)