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
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Tuesday, January 15, 2013

EURUSD pullback

The EURUSD is pulling back from the most recent bullish momentum.  As it stands, the 240min is in criteria 2c (reverse divergence) and we're anticipating 2d leading to 3a (or 1a).  So, on the faster time frame I would be looking for the 3d criteria setup to occur.  Until then it has sold long holders to shake out.
Also worth noting where price bounced initially (38.2% retrace of most recent momentum).

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