Daily Recap: The morning started with a confirmation of the 60 min short signal that was triggered on Friday (see weekend update for details), followed by a bounce that issued a 60 min short reversal signal and then a decline all the way to 180.25 that triggered the 60 min reversal and the 120 min short signals. So to recap everything, the system currently holds the following positions; 60 min short opened at 180.88, 60 min reversal short opened at 180.95 and 120 min short opened at 180.48 but not confirmed yet. Tomorrow will decide if this is only a correction that ended or if there is more down side. At this point it looks like the bears may get serious, but there were too many fakes in the last weeks to be sure.
Battle Plan for the 12/3/2013
60 min short stop over 181.59
60 min reversal short stop over 181.43
120 min short stop and reverse over 181.38
* 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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