Daily Recap: What do you call a day that starts with a 15 points gap up then declines to close the gap just to return and climb back half way up? I call it the Syrian seesaw and as long as the rumors and war drums beat we will have more of it.
The 120 min short reversal position opened on Friday was closed today with a loss ):, Theoretically there is another (even more clear) 120 min reversal signal under 163.17 but I am hesitant to take it, with the recent history of volatility.
Battle Plan for the 9/3/2013
* 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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