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.

Wednesday, April 24, 2013

Wed. 04_24

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?).

Volume profile didn't change too much

ES with globex

No comments: