Thanks for all your feedback guys, but isn't it different when it come to 'daytrading', I've done the following steps:

1. Alarm went of, more than 15% in 5min
2. Look at the 1 hour chart - highly volatile coin, with a good history (I define good as, high swings above my buying price)
3. Look at the 5 min chart, currently 'low'/ cheap to buy
4. Set buy order a little below the price of when the alarm went of
5. This coin makes swings of 20-30%, so set a sell price of 10% (just to play it safer)

Please let me know, all feedback is welcome!!!

P.s. I did get my selling price... but more interested if my reasoning is correct