Regarding the above on the importance of context, I wonder if those who do not bother with context would understand why we have been repeatedly bumping up against 81. One who was aware of the May/June trend would know that 81 represents the top of that trend channel. Whether knowing and understanding this would help him or not is another matter, but at least it would help him determine where to look for high-probability trades, as opposed to the low-probability trades one becomes involved in when he is unaware of context.
Further, one might also understand that the higher high and higher low printed earlier during the session implies a trend. He would then plot a line across the opening swing high and the subsequent swing high ten minutes later. He'd then copy this line and plot it below the swing lows at 73 and 75 (+/-). Doing so would show him that price is in a channel angling upward. Knowing this would also provide him with higher probability entries than usual (as I write this, price is approaching the juncture of the intraday channel just mentioned and the upper limit of the daily trend channel; assuming a steady angle of ascent, this will occur at around 85).
Further, one might also understand that the higher high and higher low printed earlier during the session implies a trend. He would then plot a line across the opening swing high and the subsequent swing high ten minutes later. He'd then copy this line and plot it below the swing lows at 73 and 75 (+/-). Doing so would show him that price is in a channel angling upward. Knowing this would also provide him with higher probability entries than usual (as I write this, price is approaching the juncture of the intraday channel just mentioned and the upper limit of the daily trend channel; assuming a steady angle of ascent, this will occur at around 85).