What is it
Today's high came in at exactly twice the first hour's price range again. To the Tick. You can see this on the chart as the top of the Blue background represents twice the price range from the first hour of trading.
Wishing I shorted it just for fun, but I did not. I need to consider adding rules to get me more aggressive at price levels like this.
Right now I protect unrealized profits or even take profits just below these key levels. But I do not reverse or short these levels just because they are on my chart. I do have to admit that I'm often watching good trades go by that occur at or near key levels like the hourly range and twice the hourly range. Other key values include the Pivots, R & S values, and the Market Profile levels.
Trade Wise, Trade Well
John
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