Saturday, July 11, 2015

Pause and 2100

The 1st long trade from 2082 was a loser. The 2nd long trade from 2056 was a winner. I am putting the new system prototype on hold publicly until I fix a few holes I found. I am also adding a daily trend indicator to go with the daily turn indicator like I had before in the hourly system. I have now spent 40+ hours in the last 10 days automating my system in a spreadsheet which is how I found some holes and I need more time to get it the way I want it. The numbers in their current state indicated another strong possibility for a turn on the Wed/Thu closes and we did get subsequent rallies, but my trend indicators are down. So, a straight shot to new highs is unlikely. The 2 likeliest possibilities are (1) 2100ish-->retest/break lows or (2) 2120ish-->backtest 2080-2100-->new highs. Of course, another Sunday Greece meeting could sway Monday action yet again. More soon. Good fortune.

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