I expected bulls to push higher today but I did not expect the push to last all day and make an all time new high so fast, the way blog moods are swinging between doom and all time new highs points to an urgent need of therapy. Since the day was pretty much unidirectional there was no point in publishing a battle plan progress report, and I decided to save you the hassle of reading that I had nothing new to say.
I guess some sort of retrace is expected tomorrow and its form will decide if we take a long reversal trade or short.
Battle Plan for the 1/16/2014
Still neutral but waiting for a retrace to the trend lines
* 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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