Jun 9, 2013

Short term update

Now I have more time and energy to pay attention to the markets. As I have promised in one of my comments it is time to combine analysis and the signals of the trading system for better trading, to organize myself better and be disciplined. That means every day after the close to check the signals of the system, check the levels where there will be trend change (short or intermediate term) and put concrete numbers on the table. Create plan for the next day and act accordingly.
No emotions, a plan with concrete numbers and the discipline to follow it. That is what you need to be successful trader.
I am starting today and I will post every day after the close.

Short term signal: UP
Intermediate term signal: UP
Comment: The analysis say a significant correction is coming. We will follow the market higher, but not getting too excited. Until we see something else we stay bullish.

Expected behavior:
- green scenario retest of the high - short pause in the next day or two and move lower to ~1620
- red scenario 20week/40week cycle low and higher high expected - pause is possible sideway move,but green days and no move lower to ~1620.

Levels SP500:
- above 1620 stay long
- 1600-1620 on the side line, wait and see what happens
- bellow 1600 short

Levels Xetra DAX:
- above 8150 stay long
- 8050-8150 on the side line, wait and see what happens
- bellow 8050 short

1 comment:

  1. Great stuff Krasi! Look forward to your daily postings.