Instynct, Do you tend to take only longs if price is above Yhod and only shorts if price is below ylod?
In general yes, prev HOD/LOD is one of the combination of levels I use to form the market bias. It works alot better when you have ES in concert with NQ. Pretty simple stuff huh. Edit: I only use RTH Prev HOD/LOD
The dilemma for me today is that while you have an intraday market bias that is down from the open, you also have a solid uptrend from the oct 4th low which makes it hard to go short because you really don't know when those dip buyers are going to step up again. So the game plan for me this morning was go long on dips at S/R and over ride the intraday market bias. In hindsight not bad for going against the morning bias but could've been worse if I chase the market. However my last trade short for 8 handles put me positive territory so I'll take it!