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 email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.
Wednesday, May 1, 2013
Also got a but chopped up in mid-afternoon. I gave up on the trade setup because of "Fed Day" excuse which is stupid to make excuses like that. I failed to include the down arrow on the 5-min 3/10macd to indicate the last trade into the close.
Breadth - Compare the Adv./Decl. (top) to that of SPY 5min (above, right).
Vol. Profile coming into today - Opened right under previous day's value area and traded through the second, smaller, distribution area. Eventually traded back to NVPOC from Friday.
ES with globex - trended lower since 7am
Higher t/f split - Price coming into decent support