Looking to go along if 5m momentum signal kicks in or reshort on pullback to 821 to 823 zone We have no idea of the exact entry because the realtime prices determine this.
Long trade took too long to kick in -- we have to work on this part of the system, maybe go down to 3min bar instead of 5m
Thats quite a spread. Usually when one of my trades trigger there is a definite number How are you entering the trades?
The indices are extended but that is not new or news with late day runs the last two sessions and most sessions since the March low a reflection of improved market confidence. In conjunction with this momentum there is a propensity for the indices to reach new weekly extremes on Friday's. Initial short term resistance is at SPX 838/839 (62% retrace of Jan-Mar) with a minor barrier at 846. The market has become extended but there often is at least some positive seasonal bias near the end/start of the month/quarter and this could be more prevalent given the exceptional reversal this month. SPX resistance and support 868/870 R4 861/862 R3 849/851 R2 838/839 R1 832.86 Close 822/21 S1 815/814 S2 805/803 S3 796/792 S4, 50 ema/sma
That was my point. An entry needs to be fixed if "called ahead of time." if given a range, it makes it useless as giving "real time signals"