its not actually easy to find the momentum of the market and the direction of momentum. So, a 0 point SL trade aimed at momentum trading will make u break even in most of the trades, but have a look at the brokerage that u lose. number of trades also do increase, which is a serious case to avoid.
I am thinking that if I place Buy Stops in Call and Put far from current price (or above resistance), then I don't need to think about direction and momentum. The market will automatically put me in trade in the right direction when it gathers momentum. Since we do not have automated trading, I should quickly put my SL order in as soon as the buy executes.
So no need to worry about anything other than managing the trade - trail SL, book profit, etc.
Off course, there will be scenarios where the Buy executes, and the price reverse immediately even before I place the SL - that is the big risk.
The target, if any, should be very large. After all, if I am trading momentum, I should expect big targets to be achieved. Trail SL... keep it optimum... whatever... I have not thought in that detail.
Just my thought... just conceptual.... not a defined system.
After all, it's time to dream.... market so dull.... zzzzzzzzzzzz....