Daily Recap: We had a gap and go day today, SPY opened with a gap up and just kept on going up, stopping the 60 min short reversal position, breaking the 60 min trend line and coming very close to breaking the 120 min trend line. Tomorrow will tell if the bulls have enough stamina left to break the 120 min trend line or are the bears going to take SPY down in a reversal pattern.
Battle Plan for the 11/22/2013
120 min short reversal signal under 179.38
* 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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