Yes and here is my answer to that. Those two decision points ("N" & "p) you mentioned were in the dead middle of consolidation. When a breakout occurs and it will, it could have easily gone back up to challenge that "N" or "p" price area. To confirm that won't happen, wait until momentum shifts (background color change from white to light green) and price moved up to test those two decision points you mentioned and confirmed through a specific 3 bar rule, it will fail and now drop to test support. My entry arrow. AND If you would have entered your trade even at the close of that "p" bar you mentioned, My short entry was 20 ticks higher. I just find immense value in having the ability to consistently and accurately confirm market direction and failures so my trade entries are as viable as algorithmically possible. That's the easy part because it is fully objective. Then you must manage the trade either by a rules based system (again objective) or by your own experiences, unless you're running in automation. If you trade like this you will soon learn which one to trust. The exact same rules apply to intraday trading as well. Intraday is more chaotic but a trader just has to manage their time better. Know when the best times are to consistently make profit.
No, it's just a naked price chart. Daily bars, labeled tops and bottoms are taken directly from the price bars using an objective 3 bar process. Background color is taken from each of the price bar's high and low, bar-by-bar. Zero calculated indicators on the chart. The slower the chart the more the internal chaos of that particular symbol is tamed. Each symbol is unique but the rules that govern the entries and exits are identical.
%% HINDSIGHT usually is ; unless some put so much junk on it, like a disorderly mess. Good reasons why they dont call it weather predicting ; they call it weather forecasting Farmer's Almanac about 80% accurate, long term.