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.

Friday, February 1, 2013

Fri. 02_01

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

1a criteria on the traded time frame (15-min) you're looking to trade a breakout, so the 3/10macd on the faster time frame can give some late entries.  Today was an extreme advancing day and with that, it's often the 1pm hour (CST) that tends to see a corrective move (testing the interest of buyers) into the 2-2:30pm time frame.

extreme advancing breadth
Higher time frame had a buy signal on the close of the first 15-min bar

Updated weekly chart:
5 straight higher closing weeks (upper tail of those 5-bars being no greater than 18-cents) and this closing week was an nr7 (narrowest close of last 7-bars)
$151.28 resistance on the weekly did a decent job at limiting today's higher prices.  This level capped the first structural lower high back in December of 2007

 as a LOL; I mentioned yesterday Re: the H&S on QQQ "anything over $67.50-$67.75 tomorrow would negate the above thought process."
the QQQ closed at $67.64 with a high of $67.78...should be an interesting in the coming week to see which way this market plays out.

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