Best way to trade this?

Discussion in 'Technical Analysis' started by Nutinsider, Oct 10, 2012.

  1. I am not proposing that this is a great strategy, but hypothetically if one wanted to trade a setup similar, how would you go about doing so?

    Each trade would be closed at the end of the day, you would either open long or short, and ride until the value area gets filled to your target(s)

    Indicators are support/resistance levels and pivots,(for stops) along with volume profile. (entry)

    I am open to suggestions regarding anything really. I am very open to suggestions regarding targets and stops, as I feel my stop points (2 support/resistance levels) are not specific enough and leave me vulnerable to unfavorable risk:reward setups.


    *note, i mistyped the first text note in the photo, it should read "stop at second support"