aquarian1
Registered: Nov 2009
Posts: 554 |
07-02-12 04:53 AM
Thank-you for your post!
It is a good question, as I understand it you are asking it the low is first in the day and the high is second,
will that order be maintained?
I would say that if you are in a clear uptrend or clear downtrend then yes (with the exception of Thursday which is often a counter-trend day). So an uptrend will tend to be LH, LH, LH, for a few days until the weekly trend (meaning several days to about 14 days, needs a breather and then you get a retracement on the daily chart and that is generally HL, HL, etc until the retracement is done.
In the chart shown I have looked for a period of time to meet your theory. As you can see that is not so easy.
I show a zoom in of the area in the red rectangle which is June 4 to June 7.
15 min RTH chart
IF the trend is unclear, choppy or flat, then if the o/n session is LH the day-time session tends to be HL. Though this is contingent upon with the o/n HL is within the previous day's range and where the open in relation to
the o/n stops.
line drawing
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