Weekly Recap: The crisis in Syria pretty much controlled the markets this week, giving us a strong red week. However, despite the strong decline the weekly candle did not manage to close below the Bollinger Band middle line and it looks like we may have found some kind of a resistance line around the 163 on SPY. According to the futures (so far) we are looking at a strong bounce on Tuesday morning. This does not bode well for the short 120 min I opened on Friday but we’ll have to see how it comes out tomorrow.
Battle Plan for the 9/3/2013
120 min Stop Loss over 164.58
* 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