Looking for breakout from the two points - either long or short. Stop loss is the opposing breakout level (1:1). Very simple method (using one indicator to get my breakout and target level. Market is proven at these points and price will hit target regardless of fundamentals (i.e. price may hit and then go opposite direction after).
They aren't much different from the traditional pivot points. However I have removed my indicator :-) that specifically points out which levels should be utilised and what size the targets are. The adapted fib tool gives me a simple way to draw in my levels since targets are quartile based. Personally it tells me more about price strength and direction as opposed to "magical levels". Hope that helps :-)