DislikedThat would seem to be a contradiction. He may have been talking about a strong trend on a higher time frame.Ignored
At the beginning of each trading session, when price is moving just under or above (sometimes both) yesterday's close, do you look for breakouts in one direction? both directions?
And Peter's reply:
Yes, at this point I am looking to buy above an inside hourly bar where the breakout point is above yesterday's close (and today's open) or sell below the low of an hourly inside bar below the open of today.
These trades have the MOST potential for the day. Think TREND DAY!
Maybe I'm not unsertanding what Peter is saying but sounds like close to open = greatest potential...
But at this point the market hasn't shown any strength or weakness so hence my confusion