How about using a swing low trigger on a one-minute chart? From
the discussion earlier in this chapter, you know that I like using prior
swing lows and highs as entry triggers (see Figure 14-18). Here the entry
trigger would have been as soon as we violated the 1428.00 swing low
with a print of 1427.75. You could place the initial stop above the 1429.50
swing high, or you might choose to use a price stop. The stop above the
prior high would be the safer bet. As far as an exit, I prefer using a trailing
stop rather than exiting at a target. The market will often give you a lot
more than the first target if it is trending well. The extra cash that you pick
up in staying with a winning trade will be a great cushion in your account
for those times that the market chops you up a bit.