What started as a correction week found a bottom at end of day Monday and started climbing back up, but the damage was done and the daily trend line was broken so now I have some bad news. There is a negative divergence on the weekly and monthly levels which if not deleted in the near future can mean a likely correction to 160 but can even go lower to 140. Not sure if the daily trend line break means we the correction stated or that we have another rally ahead of us with a chance to escape the divergence, but the next 2 week will probably tell.
In the short term after much moving in place and issuing false signals we are finally seeing a rally that also triggered the 60 min reversal long. Not sure how high the rally will go and currently I am expecting a double top pattern, hoping to be pleasantly surprised if it goes much higher and hoping not to see a gap down on Monday morning.
On a different note, I release today the 2013 end of year results and I am very happy about them, hope this year will be just as good.
Battle Plan for the 1/13/2014
60 min reversal long stop under 182.87
* 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.
For FREE updates in real time follow me on Twitter
To comment or post your own signals join me on Facebook