For swings, when your entries are based on the intraday and you buy right when it breaks out, where do you place your stops and how do you determine your position size then to ensure you are not taking on too much risk? Do you use the 15 min, 30 min, 60 min to ensure it holds the breakout level before entering? Or would you maybe wait till near the close to ensure a close above resistance? However, if you wait for the close, you may miss a big move on the breakout? I’m just concerned about buying stocks breaking out early in the morning above resistance and then closing below resistance on the daily? Any thoughts/advice would be great! Thanks!Ex) FMCN, breakout today and trying to hold $15.30 level. Would you wait for a close above that before buying, buy right at the breakout and where is your stop?
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