You see on my chart i marked in purple.
Before i trade a i want to see a bit of trend. In this case thats there so were good to go.
Then i handle it as a breakout trade, i place pending orders both buy and sell and use the high and the low of the as entry point and stop.
There is no target, the Exit is end of day. In this case if a pending order is triggered, close it at the end of day, in this case the end of Monday.
UPDATE MONDAY 20JULY2015
In tradingview chart the long trade was triggered, and can be closed tonight with profit.
In my real broker account also the sell order was triggered and also stoploss was triggered.
there i had 1% loss, but due to the small profit on the buy order, i suffer < 1% on this particular trade.
if the market moves down, (lower then the lowest inside bar value) then follow that downlward strength with a short. (pending stop sell order.)
both orders are protected with stoploss at the other side of the bar.
Yes there is a chance that the market reverses and both orders are hit. thats why you only want to place these kind of orders when theres a trend. in a choppy market you will take more losses.
During the trading day the market moves down, it triggers the sell order at the bottom (0.68888) and at the end of the day close the trade with nice profit (@ 0.68619)
you see in choppy market (februari) it performs bad but there are good examples of profit 03-19, 04-06, 04-09, 04-24, 06-03.