Quote Originally Posted by Billy View Post
Successfull Breakout would be confrmed above the first cluster or at daily R3 =
55.53. But R3 has also a 95% probability of being the high for the day.
Attachment 9168
Billy, does GDX need to close above R3 (55.53) for confirmation, or just get there intraday?

At some point, I would be interested in hearing your views on the significance of closing vs intraday breaches/breakout of support/resistance, e.g. last week we saw the IWM trade above and below intraday the key IWM levels of QPP (81.80) and 50 dma (82.11); we always resolved and closed above the key marks, so I take closing to be much more important than intraday - is that correct? and, if so, when do we have to give into the intraday breaches/breakouts? the next daily pivot level?

Thanks,

Shawn