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 🙂 ), 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
* 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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