I look at levels and then round up to what the average range/noise of typical moves are on my timeframe. So my stop should have been at 96 (above the prior high) although I like to give it a bit of wiggle room, as it often stops people out and then crashes in their intended direction, so put stop at 98 GOt Killed today, although I knew it was gonna happen one of these days as my luck has been in for like 5 days in a row. A beating was overdue!
As a contrarian it's just what I do in a mean reversion instrument Sell tops and buy bottoms Over and and over again since 2005 Don't fall in love with direction