You wouldn't be the first one to say that.. by machinery I mean angles and precision in pricing that almost makes angular support and resistance too perfect. That's all. You could put math to it and do a count.. like what is the longest period of higehr highs and higher lows for the rth. the bars are the same.so this would be higehr highs and higher lows then we can take that figure adn do a percentage of the entire move to actually mathematically see which day had more trend to it. I am counting now.
I kinda' did that in my head back in February. It would have worked in the March drop. But when it came to the October drop, it FAILED MISERABLY, and is STILL FAILING. I expected the market to recover most of it's losses after the Oct drop 3rd drop. It hasn't. It is back down to Feb levels. I don't know what instruments you are studying, but again, you are out of your mind. The market today is vastly different from what it was a year ago.
in my math the one 3 days ago had 63 points of lower lows and lower highs where as todays only had 60 so my arguement about today being a better trend based on bars might not have been the ebst reference point, however.. and hindsight is a gift.. today was definitely more of a trend than 3 days ago! and I attribute it to less machines playing around today. You know like 20 to 30 % of all the trades you see as trades and volume are actually wash trades or just there to paint the chart..right
It means exactly what I typed. The market today is vastly different from a year ago. Your one or 3 minute bars will not help you in a system when the market has changed so much in a year. Your RTH range idea... What did today's trend tell you during the RTH using your parameters? Which way did the ES or YM or NQ look like they were going after the first hour of RTH trading? Well, if they indicated that the daily trend was up, it failed pretty darn hard around Noon ET, didn't it? Predicting a day's direction in equity indices is not as cut and dry as it was a year ago.
Closed my NQ position at 1:29 today with no issues. However, my entry order last night at 5:00 got rejected several times until 5:07 when it finally let me in.