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I'm done for the day.

I got in at 53 being prepared to exit quickly if it didn't go. If it doesn't go, I don't want to be there. So far it's paying off... let's see if we can breach that ONH. Do you use ES as a proxy for the NQ moving or something?

It didn't ricochet off it like a bat out of hell as it did last time.

Observation: 64 and 48 are both equidistant (+/-) from the mean of the compressed range before the open.

Would being in the opening range most of the morning be part of your rationale for this?

Haha my bad! Got you confused with someone else.

I think he means back to the oil rig.

You still subscribe to your old "I avoid taking trades bound by swing points. Unless price can make a new swing high/swing low, it is, by definition, ranging" motto? I swear I could write a book of your sayings off the top of my head.

Looks like it.

This is the compression before the open you're talking about, right? edit: Another observation is that 53.5 is the midpoint of the last leg up on the 60m

I see which day you're talking about (2/9... right?) and the respective ranges you're talking about. We're also at the bottom of the 60m range from the move on 2/6. Maybe it's too late at night and my brain is already half way shut off, but I'm not really seeing how its an advantage since I'm...

When you say it "pays" to know about both the 15m and 5m ranges, I'm assuming you mean that these levels can serve as launching pads for trades? Or are they just there to ease the blood pressure with ONH and ONL? I'm just scratching my head a bit here because I thought only the levels that most...

:D Looking forward to it.

Just a suggestion to those who are still struggling with intraday Support and Resistance: only take note of the Prior Day's High and Prior Day's Low. These levels are seen by most everyone, if not everyone, in the market. Most charting programs have an "indicator" to plot them automatically...

I am.

By "DB Method", I'm assuming you mean SLA. It was backtested by a member in one thread who I believe essentially implemented it mechanically, can't remember which, and it provided a positive expectancy over time. However, to make the serious money with it and to really grasp an understanding of...

I'm certainly not seasoned and most certainly not a veteran.

Yes, he helped me. Directly through interaction? No. Did it take 6 months, an open mind, and a ton of work/research on my own part? Yes. Like he said, he's just the translator for Wyckoff's material. Am I going to sit here and try to convince you Wyckoff's 100-year-old stuff still works? No...

Ironic that Gringo and DB be the first two to answer my question, since they are the two most influential contributors that have helped me break through to successful trading. For that, I owe them thanks an order of magnitude far exceeding anything that I could type on a discussion forum...

Gringo and DB, thank you for the clarification. As an intraday trader, I see I got a little over zealous with my "waiting for the best opportunities to arise". I saw that failure occur this morning, and I practically had to sit on my hands not to take it!