The second "First Cross" entry long (green vertical line) was at a pretty exhausted level where you could have just targeted pivot resistance. The other markings on the above chart indicate a higher low in price, corresponding with a lower low in momentum, these two guidelines tell me to be on the lookout for a "Slingshot" setup, sure enough! I wasn't expecting that big of a reaction after being lulled to sleep towards the end of the day.If, based on the 5-min chart you didn't trust the Slingshot setup, looking at the 15-min chart you were getting a "First Cross" setup taking place right around the same time (last green vertical line).
Speaking of "First Cross" setups, here's the 60-min chart where we got a First Cross setup after three hours of trading today (latest green vertical line).
If we move higher from here, we certainly have some upside to $87.50 resistance.
That is IF we can get beyond the resistance that the S&P500 is sitting at from the end of this week.
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