This short article began as a question from a member and I realized the answer should be shared because this is very powerful information to know as an intraday trading aficionado or day trader.
The question is (pertaining to intraday tweets for emini trading): What is the value of tweeting that the opening range is expanding?
This is an excellent question. If the normal range for the first hour is 5 points but the actual is less, then you are in a breakout mode. If it is larger you need to be careful of ranging or consolidation in the market.
Then you put this into the context of the days range. Is the first hours range a large percentage of the normal daily range? Today, as I look at my charts, the IBP (initial balance period) range is 11.75 and the average daily range is around 15. So 12/15ths of the normal range for the day is already expired.
Unless there is some news that changes everything, there is a good chance we are ranging or counter trending and will not follow through-
If you know these sorts of things when you are trading then you begin to approach the status of a MASTER knowing that :-)
All you will have to do from there is shave your head and chant while you are trading :-)
If you are not getting my Tweets, click the twitter icon above and get on my Twitter feed.