The vertical lines on the 5-min chart indicate possible triggers to entry (if you need an indicator for that) or for a more aggressive entry, one could fade a red fast line reading on the 5-min. The best entries coincide with a pullback to the origin of the breakout (notice the large reverse divergence on the 5-min chart).
Of the 4 vertical lines (entries), only 1 would have resulted in a loss or break-even trade. The third entry never hit the ATR stop placement.
The SPY didn't have as strong of an ADX reading as that of TLT but still provided the same concept as that above. Look to fade higher price (green fast line)
But look to fade it in an area that corresponds with what can be considered a resistance level or overbought conditions (extreme TICK).
As the fast line goes green the first time a test of vwap corresponded to a new TICK high which was faded (though the payoff was a higher low). The second push higher tested the 9:15 breakdown point on extreme TICKs and went to test the lows.
As an aside, I did take the 3d long entry towards the end of the day. Price went beyond my stop by 4-cents before hitting both the 50% & 100% projections (though be it in a very choppy move).
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