4418.5 was the overnight high
And the was a seperate range developing prior to the open with an upper limit of 4415 ish
And the was a seperate range developing prior to the open with an upper limit of 4415 ish
The Trouble With Scribbles
- Thread starter Buy1Sell2
- Start date
The ONH isn't necessarily relevant. You're looking for the range immediately before the open. This is where traders have found equilibrium (if you're not clear on what that is, Ctrl+F Wyckoff's course and the pdf). The disturbance of that equilibrium is where the opportunities lie.
The "ish" part of 4415ish is correct. You're not going to get a rigid line. Trades are going to bounce around a bit, in this case, from 14.25 to 14.75. At 0814, traders make a serious effort to get past all this. They get as far as 16.25 and fail. This does not mean that the upper limit is raised to 16.25; it means that the importance of the lower one is confirmed: this is the level beyond which traders can't/won't get.
When is the next attempt to get past 14.75?
The "ish" part of 4415ish is correct. You're not going to get a rigid line. Trades are going to bounce around a bit, in this case, from 14.25 to 14.75. At 0814, traders make a serious effort to get past all this. They get as far as 16.25 and fail. This does not mean that the upper limit is raised to 16.25; it means that the importance of the lower one is confirmed: this is the level beyond which traders can't/won't get.
When is the next attempt to get past 14.75?
About 0908
3 ticks
4 ticks
4416