somewhere on the thread way back there was a discussion about opening range. No matter how fast the mkt becomes it still has to open and close. here is a chart with the open on cl, you can put a line at the close of the first five minute bar and see how often that price is touched. In other words a touch of that bar is like mean reversion otherwise you have a trend day, to me this is what acd helps with and you can take this to the lowest time frames.
For the purpose of the number lines I do not modify the opening ranges. This is just for the purpose of the number lines though. I modify OR for other reasons.
would you guys consider today to be a confirmed A down in /GC even though it happened after the open cry pit hours?
Gold was a minus 3 day for me. So yup, confirmed A down. Nice job Gold, getting off to a great start aren't ya. LOL.
Looked to be like everything had failed A ups pretty much across the board in stocks. Although I did have a confirmed weekly A down in TLT.
Actually, scratch that. I don't have my stuff in front of me and am typing from my iPhone. I know I saw a bunch of failed A ups in something today, but can't remember if it was in the stocks I watch or commodities. Nothing to see here. Move along.
OR of first 2 weeks of January provides good reference points for first 6 months of the year per Mark Fisher.