This from the VWB II document, page 11.
1)
B)There is approximately a 75% probability that once the market moves farther than about 45 pips from the open, it isn’t coming back.
C)There is a 50% probability that when the market goes past 30 pips from the open it isn’t coming back.
How can you tell from the market data recorded from the excel file? The only input data in the excel file is open, high, and low. Everything else is derived from these data inputs. Wouldn't you need the close to figure out if it "came back"?
1)
QuoteDislikedIt’s very clear from the data that you can make the following conclusions:
A)Excluding pre-holiday trading, the range for the day has a 90% + probability of being 100 pips, about a 70% probability of being 120 pips, and about a 50% probability of being 135 pips.
B)There is approximately a 75% probability that once the market moves farther than about 45 pips from the open, it isn’t coming back.
C)There is a 50% probability that when the market goes past 30 pips from the open it isn’t coming back.
B)There is approximately a 75% probability that once the market moves farther than about 45 pips from the open, it isn’t coming back.
C)There is a 50% probability that when the market goes past 30 pips from the open it isn’t coming back.
How can you tell from the market data recorded from the excel file? The only input data in the excel file is open, high, and low. Everything else is derived from these data inputs. Wouldn't you need the close to figure out if it "came back"?