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.

Monday, January 7, 2013

Mon. 01_07

today's trade

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

First trade basically a scratch. Second trade (short) I took some off but then added back (two down arrows). The up-arrow with an "x" under it reflects a long entry that I considered, but didn't take. Final trade (long) was scaled out of in 4 parts, the final exit was based on the overnight highs at $146.04.

The higher time frame you can perhaps argue the presence of a head & shoulders pattern (65min chart).  I'll be watching the 3/10macd on that time frame to see if it goes green (and has a fast line/slow line cross) or if it ticks back down.  Essentially under $145.50's bearish and over $146.25s bullish.

Interesting to note the severe lack of negative TICK readings so far this year (the sub-graph in the chart below is a smoothed version of the TICK)

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