the range of first 15 minutes bar and the trend of intraday

I noticed that the trend of intraday has much relationship

with the first 15 minutes bar' range

if the price can not breakout the range ,the price will

sideways in the range .

but I could not find much proof about my view

I hope someone will point out wether I am right or wrong

thank you

 

http://www.investopedia.com/articles/technical/04/032404.asp

 

This approach sounds like a logical trader...
Mark my words you can make money and be original if you can
Fisher something out of this approach..

 

here is one pic

in the elliptic ,it is hard for trend following system to grasp profits

 

You can backtest this for yourself with relative ease.

 

(1) You're alluding to Market Profile guidelines. It might be better to use a 30-minute breakout instead. (2) Today's narrow range might have to do with the fact that it's Friday. (3) You'll have to apply well-defined money management rules to make your method work.

 

please state an example using YM, ES, ER2 or NQ...thanks!

 

Hahaha that's great. Optioncoach is very wise indeed. Follow his wisdom if you want to BOOK a lot in profits.

 

Robin , backtest your idea. But breakout method will not help much in the current sideway and choppy market you are trading.

 

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Noticed the trend is related to last150 days,
1500 days can help also.

And mini reversals frequently happen in stocks;
after 15 minutes more/less