Homework #01 - IB Breakouts
How frequently does price break above the IB high, below the IB low, to both side, or stay inside the IB for the duration of the session?
Terminology
IB - Initial Balance - Range in which price traded for the first hour of the day session, typically 9:30am ET to 10:30am ET for the ES. IBH = IB high. IBL = IB Low.
Note
IB High Breakout Only = 36.6%, IB Low Breakout Only = 29.7%, Breakout to Both Sides = 31.6%, No Breakout = 2.1% (1,000 days ending 11/23/10)