They are both important depending upon the context of the day, then one might be a bit more important than the other. For example, I'll watch the 4 PM close, but if the 4:15 close is outside the RTH range for the day, then I will give that more weight. Context is as important as the level.
NQ 93.50 + 2 +2 so may get pause or pullback here. ES looks like it is in the driver's seat today though ... trade there much more confident of itself than the NQ so far, imo FWIW, I rarely short during bull markets. and I'm long all day so far.
Trading right now anticipating a test or break of 2885 area in preparation for a leg down to 2790s in the next few days.
Inverted head and shoulders about 45 mins ago would have worked out nice, although every time I take that setup it tends to fail so chose to ignore it this time lol
Long 4.25 on a buy limit ... low tick of pullback so far (it did go bid4/offer 4.25) ... 2 point stop
In my view , the market is in bear mode and will be for quite some time. There will certainly be long opportunities on short timeframes if those are the ones that you trade.