If you are doing this on an hourly basis, how long would your time horizon be.... would you stay so long as it holds a certain level? or other parameters? I am attaching a chart... my thought is, bullish as long as it holds about the 80 line on the Williams Percent R.... and I would set a stop loss at 60.50... which is the confirming day. It is a nice setup.... running away from the moving averages.... volume steady.... percent R above 80.... I would think we could follow this one up for quite awhile. Jacob
Wound up playing it short through the bottom of the base at 64.5 for a move to 64. Setup nice on 1-min, just .10 risk. http://independent-trader-ken.blogspot.com/