7-29-2013 Daily Recap – reversal or triangle

Daily recap: not much happened today, either SPY made a reverse pattern (which I did not twit about due to the strong positive divergence) and tomorrow we are going to see more down movement, or SPY is forming a triangle and when finished will continue up.

Battle Plan for the 7/30/2013

2013-07-29-End of day

60 min interval long above 169.23 on SPY

120 min interval long above 169.56 on SPY

* 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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