As my wife would say..."it is what it is, it is how you use it is more important"...... NIN -I had to laugh at that -as my wife always tells me how adequate i am -in my trading that is
Not just during rth. The range is 9-11 avg is 10. Ask any local in the spoos pit on why it works. 40 29 back to 40
Since watching a few folks on here use r10, I have added a line to my chart upon entry long or short. That line is vicinity 9 point move. If I let the contracts run that far, i pull mental stop in very tight at that area. What I have yet to understand is how can the reversal point be known and then how could r10 be used for entry. If it was each turn, it would ping in a 10 point range indefinately. Vol...are you watching for r10 entry?
I should clarify. The line drawn is from the reversal high or low which is noticed in hindsight. I didn't mean to imply that my entry was at the low or high. In hindsight, the reaction or daily low/high is very easy to spot.
A couple things - of course nothing works EVERY time, and there's enough variation ... 9, 11, 12, .... total fail, sometimes R10 x2 .... so that the markets eventually get to where they need to go. In some ways it can be used as just a point of reference or framework. I look at it as sort of an art. Volente is sort of the master.