Market Exit Strategy has been triggered @1255. Profitable low risk high probabilty Swing trade has been closed. First Profit Target 1265.75 - Reached about 1 Hour after Entry Second Profit Target 1250 - Reached about 6 days after Entry Short cycle traded in series from 1321.75 to 1255 is over. The market has reached its real bottom location and if strategy triggered, long would be a good direction. (1250 is ultimate support mathematically and also a key psychological level) Support and Resistance levels will be mathematically reset soon to coincide with the new direction the market has shown. If market fundamentals continue to point to the downside in the following weeks, the next support is 1234.75 [Daily Chart] 1246.25 on [30 Min Chart] Long resistance levels have not been established yet. Strategy mathematical algo has not yet reset. All current long resistance levels are from the previous swing high and may or may not be the new levels after recent data calculations are automatically reset. Short Term Trend is currently: Down/Short Main Trend is currently: Down/Short Happy Trading
New Long Levels Reset [30 Min Chart] - Intraday (Long) 1281.25 1273.25 1265.75 (Short) 1257.75 1250.00 1242.25 [Daily Chart] - Swing (Long) 1343.75 1312.50 1281.25 (Short) 1250 1218.75 1200 No clear direction has been re-established yet - Currently on the sidelines
It was 22 mins based on his post but it was a swing trade so even if it was shortly delayed being posted here (I only look at the charts every few hours throughout the day) it took another 40+ mins to hit my first target and 6 days to get an exit trigger. Even if someone got into the trade 30 mins later or a day later they still would have pick up 10+ points. (Swing is not intraday where the speed that you have to execute is a major factor) The correct direction is the major factor in swing trends [Being on the right side of the market]