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 firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.
Wednesday, April 24, 2013
Horizontal development is torture. It is also very easy to get chopped up without patience. This volume profile (below, most recent) is what I mean by "horizontal development". After testing a price point above (low volume node, blue line) and a price point below (high volume nodes, red lines), price coils sideways between the two and edges are faded, so you end up buying a breakout higher that gets sold or lower that gets bought:
Anyway, A few paper-cuts in the late morning
Breadth today - Advance/Decline took a hit early in the morning, and remained slightly better than neutral (divergence with price?).