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 8, 2013

Fri. 02_08

today's trade

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

As mentioned yesterday; criteria 1a (like criteria 4c) is more about looking to trade a breakout then it is about looking for a trigger on the 3/10macd.  For this breakout I prefer to look at a faster chart, like this 1min.  Entry was $151.31.  I also want to see a relevant previous resistance area overcome.  In this case we opened right at that resistance area (see the 15-min chart below)

Basically a bunch of scratch trades in the afternoon.  A pretty lame session, volume coming in at the 2nd lowest of the year (very close to being the lowest).  Options expiration next week, perhaps it will bring in some volatility.
With the higher time frame triggering a buy near the close yesterday, there wasn't much to do except trim exposure.  Looking for the 15-min 3/10macd to turn back bullish to position long again.

another extreme advancing day, though not as strong as previous sessions.  Perhaps this latest momentum push isn't being chased like previous ones.

A chart of the weekly with two Fib. projections based off of seed waves.  Currently at a confluence of projections.  Sixth straight week of higher closes, but not really going anywhere:

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