The 00-00 to 04:00 is a powerful indication which direction price will go. I notice even when price breaks the high/low it has three options. Majority of times it breaks and keeps on going. Secondly it breaks for a few points comes back into the range. And then eventually decided to break again in original first break and gains some traction. Fibonacci is powerful tool to average in. Rarely does happen which is a fail but again you called close on a loss on the other side of the range play opposite side of the market. There might odd day here and there where both breaks fail, however looking how accurate trading the breaks you can take a hit now and then aslong as you have correct money management.
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