Using Institutional Numbers to know when / where to take profit. How and where to set profit targets

A concept that I apply on a daily basis is using institutional numbers to set profit targets. I believe that institutional numbers on all instruments are levels where large traders place trades, stops, and targets; therefore, there will be a lot of indecision / hesitation from price around these levels. Every day, I mark the institutional levels that may come into play for the day. On the Nasdaq, they are levels like 2200, 2300, 2400, etc. On the Euro/USD the levels are 1.3300, 1.3400, 1.3500, etc.

I use them in two ways. 1) I know that if price is around an institutional number currently, be careful of taking trades, wait for confirmation. 2) If I am in a position, look to take profit around the institutional levels because indecision / hesitation in price may occur.

To continue regarding the afterhours long trade that I took, I know that my target zone will be around 1.3500. First off, the institutional number is there. Second, I have dynamic resistance around those levels in a few instruments that I watch. I have 2 instruments correlated with the trade and 1 instrument that has a -1 correlation to my primary instrument.

The stop was managed upward, trailing the swing lows (invalidation points). I had my target set at 1.3500 for the reasons mentioned above. I ended up profiting 70 pips on the afterhours position.