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, January 24, 2013

Thu. 01_24

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

Criteria 1a on the traded time frame (15m) with long-term trend agreement (20MA > 50MA) you're looking to buy a breakout of previous highs

Higher time frame, Daily:
Stretching into upper channel, showing some profit taking into the $150 mark.  Hourly chart showing 2c-2d criteria with strong trend development, so "dips" will see buying (or covering)

So, being that the hourly is showing 2c-2d we could look for a 3d criteria setup on the faster (15-min) time frame (in the form of 3-pushes to a low, inverse head & shoulders, or seed wave)

E-mini continuous 240-min chart:
Channel still intact.  Price completing 1.5x projection of most recent momentum projection (2x comes in at 1512.75).  

No comments: