Bar types of the ‘hit bar’

The bar that either breaks the high pivot or low pivot is what I’m calling the hit bar.

Here are the ‘entry clue’-esque stats for the hit bars (condensed stats are the two on the right)

2

Showing that the first bar that makes the high (or breaks the low) is at least 20 pips about 85% of the time. Interesting. Given this (and the last statistic) it’s not surprising that the H-L of the bar after it is generally large as well (being over 20 pips about 80% of the time.

Here’s a real life example:

3Red lines: PP levels
Yellow: H/L of hit bar
Blue: H/L of succeeding bar

Shows (pretty well I think) that :

  • the hit bars and bars after tend to be of decent size:
  • how many bars of the day are small (meeting the <10 statistic)
  • How attainable the pivot levels are

 

 

Finally:

4

 

Bout 50-50

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