The troubles with scribbles is it is a trading in foresight method, not hindsight "here's what you should have done" stuff. Damn scribblers!
Foresight would be as simple as this - I will go Long here and stop will be here and a foresight target would be here
Too much to go through, can't you guys be more concise? I did see a scale out I think, just as I assumed I would.
There is also the matter of the RSI Grail having made only two points (as of 1047) over the past three days. Most would consider that to be somewhat inadequate. Oops, sorry. The RSI Grail is in the hole again.
This is an example of what I call the LITHA trade (Leave It The Hell Alone). It's the sort of thing that is attractive to those who trade while at work or in class or wherever. Here one can see the pre-open range and the initial move up to 19 at the open. Price then drops to 4401. Given the pre-open range and the failure of price to drop below 01 on the test, making a double bottom instead, the trader, if he happens to be watching at the time, can enter at 02 or 03 or 04 (doesn't really matter) as a reversal then LITHA until it reaches 19 or thereabouts. Are there any guarantees that it will reach 19 and not drop back to the entry price? Of course not. But this sort of "setup" is an option for those who want to participate in intraday trading but aren't in a position to track price continuously. The sellstop or targetstop or whatever your platform calls it would be placed at 18 or 19, depending on how greedy you are.