Daily Recap 10-1-2013

Daily Recap: New Quarter opened strongly green today, the bulls came to play and swept the field, stopping a reversal attempt by the bears in the afternoon and closing strong. It remains to be seen if there is indeed a follow through tomorrow, or was this the best shot the bulls had.

Trade wise, we had a triggering of the 60 min long signal in the morning with a confirmation, but the market stayed pretty much around the entry line for the rest of the day. It looks like there is room for another leg up but the 120 min trend line is still a resistance that needs to be broken.

Battle Plan for the 10/2/2013

60 min Stop under 168.7 – should be treated as a take profit stop

120 min long over 169.73

2013-10-1-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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