Quote from Eko_Trader:
Perhaps we get 02 - 12?
That can happen too.
It is all about money management.
e.g. You short from 06-07 daytrading only, then light up at PP will make it easier to ride. or if you do not scale out, then a stop at 6.50 or higher will keep your position outside of resistance zone like previous day high, etc.
If you are bullish you look for long from the PP retest you probably want to at least using BE stop and/or light up at VWAP, previous day high, etc.