Daily Recap 10-14-2013 – Higher High but Waning Strength

Daily Recap: Looks like the negotiations breakdown over the weekend did not scare investors and the morning gap down soon closed only to make another higher high, but the strength of the movement seems to be waning, maybe one more push in the morning?

The system issued a 60 min reversal long signal this morning that was triggered after 1 PM and is currently profitable, so unless we gap down in the morning I expect it to close with profit. The system also issued a short signal on both intervals, which means that most likely we are either heading towards a consolidation phase or a correction phase. The latter more probable if we take into account the strong bullish movement we have been seeing in the last few days.

I would like to welcome the new twitter followers that joined me today (around 30 if my count is correct), hope you will enjoy the signals, the system and the profits. Would love to hear your feedback either here, on twitter or on Facebook, and don’t forget to spread the word.

Battle Plan for the 10/15/2013

60 min short under 169.61

120 min short under 168.87

The long position is still open

60 min stop under 170.27 – should be treated as a take profit stop

* 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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