When day trading on a slow day like today I found that the simple technical patterns seem to work better. I will only take a measured move type trade on a slow day like today. You can see that this trade lasted more than half the day and gained +20 points on the first half and +40 on the second half for an average gain of 30 per contract. We had a 30 point risk at the time we took the trade. You can see that the target was taken by measuring from the bottom of our triangle. Then take the same distance from the breakout and you have your target. Again, I don't take these trades often, only on a slow boring trading day.
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