Daily Recap 2-11-2014 – Daily Trend Line Crossed

I was expecting bearish resistance near the daily trend line and maybe some kind of pullback before the daily trend line would be crossed, but the most I got was several hours of consolidation yesterday, and today the bulls came charging up in full force crossing the and closing above the daily trend line. The indicators are very very overbought so I expect to see a pullback anytime, but now I believe there is an indication of another leg up and my reason is that the daily trend line is currently below the weekly trend line which is an anomaly and to correct that we need more upside, so if tomorrow red it means another leg up.

The system still holds the 120 min long position open and continues to make profits for exact stop points you can look here.

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2014-2-11-Daily

 

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