THE SHORT-TERM TREND IS UP, I HOLD LONG POSITION OVERNIGHT
Good follow through today, now both short-term and intermediate-term are up, at least the very first dip is buy.
For tomorrow, as discussed in the last night’s report, odds favor a red day.
Those who follow Cobra Impulse System, a long position should be initiated today. The setup had 81% winning rate over the past 2000 trading days. If you missed the entry today, as long as the system still holds the position and you have a better entry, you can enter at any time. Besides, I’ll from now on mention 2nd/3rd/4th/… entries after the initial entry, most likely they’re worse entries but still better than missing the whole trend. You can use all the following entries to pyramid your position as well.
MECHANICAL TRADING SIGNALS:
|Long-term||2 of 2 BUY|
|Intermediate||4 of 5 SELL||5 of 5 NEUTRAL||Cobra Impulse in *BUY mode; Non-Stop in SELL mode.|
|Short-term||5 of 6 NEUTRAL|
|SPY SYSTEM||ENTRY||STOP LOSS||INSTRUCTION: back test is HERE, signals are HERE.|
|Non-Stop||05/10 S||N/A||Short is for aggressive traders only.|
|Cobra Impulse||*06/29 L||1.7*ATR(10)||*Long position initiated on 06/29.|
DEMO ACCOUNT FOR SHORT-TERM MODEL: