Daily Recap 11/27/2013 – Gobble Gobble to You All

Daily Recap: Looks like the expectation for the thanksgiving turkey had mellowed the willpower of both bulls and bears, because we have been moving sideways since the start of the week. Despite the bearish sentiment on the blogs I still see room for a push up (see explanation below).

There was a 60 min long reversal signal today above 181.09 that was triggered around 2 PM but the system did not issue it, when I checked for the reason I found out¬†I made a mistake yesterday by setting the stop loss to 180.67 instead of the low of the reversal candle at 180.37 (still working on the rules of engagement) so the system is still treating that trade as open (it is smarter than me ūüôā ), and therefore did not issue the signal. I will not be following it in order not to cause further confusion, but will count it as part of the statistics (whatever the outcome is). However, the reversal signal is the reason I tend to believe there is another push up.

I am for a long weekend and probably will not be able to tweet on Friday, so happy thanksgiving and gobble gobble to you all.

Battle Plan for the 11/29/2013

Neutral with a bullish bias

2013-11-27-End of day

* Stop loss lines should be triggered if there is an interval close above them (i.e. 60 min or 120 min ), they are published in the daily blog and updated during trading hours on twitter.

* Take profit lines should be triggered immediately when crossed, they are usually issued during the trading day on twitter.

* Entry signals should be triggered when crossed, but take into account that until there is a confirmation (i.e. close of the interval across the entry signal) , the signal can become a reversal signal.

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Daily Recap 11-26-2013 – Bulls got cold feet

Daily Recap: The attempted rally by the bulls triggered the reversal trades on both intervals but alas the bulls got cold feet at the last hour and the decline reached the stop loss point in the last minutes of the day. Technically spy made a new all time high today near end of day, so I can make a case for the end of the push that started on 11/8 at 174, but I will have to wait for the daily trend line to be broken first to be sure (currently at 177.72). In the meantime I am neutral and waiting to see if we have another reversal signal tomorrow or will the trend lines break. Tomorrow is the last day before thanksgiving so probably volume will be light.

Battle Plan for the 11/27/2013

Cruising in Neutral, waiting for a system signal

2013-11-26-End of day

* Stop loss lines should be triggered if there is an interval close above them (i.e. 60 min or 120 min ), they are published in the daily blog and updated during trading hours on twitter.

* Take profit lines should be triggered immediately when crossed, they are usually issued during the trading day on twitter.

* Entry signals should be triggered when crossed, but take into account that until there is a confirmation (i.e. close of the interval across the entry signal) , the signal can become a reversal signal.

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Battle Plan Progress 11-26-2013

3 PM: Not entirely happy with the way it’s progressing but as long as it’s going up we’ll have to wait and see.

60 min long reversal Stop under 180.67

120 min long reversal Stop under 180.67

2013-11-26 - 3 pm - update

2 PM: Reversal trades finally triggered let’s set the stops

60 min long reversal Stop under 180.67

120 min long reversal Stop under 180.67

2013-11-26-1 pm - update