Thx for your thoughts Becky. I am a swing trader (short Qs) but booking gains on these downside moves has been tough, they are quick… As you can imagine, I want to book as much gains as I can, but also not miss the move by holding out too much. It would seem to me that the 60 minute chart is more detailed so the 60 minute level would be more exact than the Daily level…

IMO: If you trade intraday – hourly and below. If you swing for days/weeks = daily. I think you can adjust the exact final targets based on hourly when placing the “take profit” order but apart from that I believe the significance depends on the time frame you swing. Usually if you swing for days/weeks then the move is prolly 5-10% in the underlying so it doesn’t matter if your levels are to the penny on the micro level as long as you take profit before the reversal, hence what Randy teaches you is to have adjusted targets, i.e cover positions before the security hits your target to secure gains before other market participants step in and trigger the reversal.

Also with banks reporting next week BANK looks good for a break down too.