Well some people might say a prior low or high or some magic level like fibonacci 50% are good re-entry levels, in fact they are not, as it is almost impossible to place a correct limit order at the price where the market will turn.
Luckily there are certain times (after 10 am) when setups become available, so just looking for trendline breaks on the 1 min chart often gives very good exit and re-entry levels.
Using the elliot osciallator on the 1 min chart also helps me to identify overbought/sold conditions, especially in volatile market conditions this helps me to wait for valid entries:
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