Unlike advanced patterns, when I involve myself in a structure based trade I look to actively manage it. The "black flags" on the chart were potential profit taking levels for me and as price action approached them I would keep a close eye on the reaction. A positive sign would lead me to stay in the trade, while a negative sign would cause me to take my profits and fight again another day. The blue lines are an example of how i managed my stop/loss while the position was in progress. While the green flag is where I ultimately ended up taking off my final profits.
Now before you yell at me about "not catching the entire move" please take a look at the video i just uploaded to my YouTube channel explaining the "Pros" and "Cons" of active management vs shooting for a static target area.
SEE MY BEST TRADING IDEAS DAILY
FREE WORKSHOPS & TRAINING VIDEOS
WATCH MY LATEST TRADING VIDEO
CHECK OUT MY LIVE TRADING ROOM