SPY pushed down today in an overlapping manner, and if the futures are any indication tomorrow we should the attempt to push higher I mentioned last night. The two reversal signal that were issued during the day were negated every time, but the system still holds the 120 min long position. A new high will most likely create a negative divergence on both intervals and the system will issue a short signal.
Battle Plan for the 12/10/2013
120 min Stop Loss below 180.11
* 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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