Can possibly consider today a failed breakout since we closed under the breakout level.
A couple of losses on the higher time frame setups.
SPY - Rather than wait for the fast and slow lines to cross on the hourly 3/10macd it might have been prudent to just scratch the long entry trade today, particularly since other indexes triggered a close for a loss.
IWM - closed right around the initial entry for this trigger long. Similar situation as SPY (either close as a scratch or wait for the fast line/slow line to cross.
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.