I looked at some numbers today and it looks like the high or low for the day is within 2 pts or less of the 9am-10am high/low very often. Like over 80% of the time if I'm correct. Anyone else work on this? How do you use this information?
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9-10am High/Low
- Thread starter runningman
- Start date
Quote from runningman:
I looked at some numbers today and it looks like the high or low for the day is within 2 pts or less of the 9am-10am high/low very often. Like over 80% of the time if I'm correct. Anyone else work on this? How do you use this information?
What market and number of days is this observation based on?
... "Toby Crabel was one of the original co-creators of this technique. The information on this technique is better explained in "The Ultimate Trading Guide", "Long Term Secrets to Short Term Trading", and "Professional Stock Trading". Of course, if one can track down Crabel's book, then you have the original work which is very thorough. At then end of the book, he does have a rather paltry chapter on Fib ratios that can be found and better utilized in numerous other books. In summary, this book is poorly written, weakly paraphrased, and completey lacking of any original content. "
Review of Opening Price Principle on Amazon.com
Link
Good luck with your trading.
Review of Opening Price Principle on Amazon.com
Link
Good luck with your trading.
Market profile works like that, they use the first half hour or hour of the day... it's similar on the YM, you can use those early extremes and even some points in between all the rest of the day, price will move to the line and usually retreat because whoever had their stops there before probably still does... you can watch a channel form up as price pushes the stops repeatedly, each time a little further into new territory then some opposing volume comes in and you have a narrower bar with high volume then a reversal. Sometimes price will push through typically on high volume but sometimes it will drift through on low volume usually giving reverse signals for the entire move, drives me nuts, like I'll get reversed and stopped out a couple of times and then I sit up and I'm like, what the hell is this thing doing to me? Then I shut it off and go eat... and miss the big move back the other way.. that's how I got where I am today btw...
Hard work got me where I am today... where am I?
Hard work got me where I am today... where am I?