MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets

Capturing Today's High and Low with Standard MIDAS S/R Curves

Capturing the high and low of the day using standard MIDAS S/R curves is relatively easy provided a trader understands the displacement phenomenon, as this was outlined in the first half of the chapter in relation to trend sizes and chart timeframes. By definition, the high and low of the day create its widest range, so it stands to reason that they'll only be captured when launching curves from pivots of a similar magnitude; more often than not, these are previous days' highs and lows. Only such pivots ensure that the curves will displace sufficiently to capture subsequent ones of comparable size. If we go back to Table 3.1 where trend sizes and chart timeframes are catalogued, we'll ...