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💎 4-Hour Candle Sweep Analysis
Lots of people asked for the H4 analysis on the Hourly Stats scenario.
So, if an H4 candle breaks the previous candle's high or low what is the probability to return to the current H4 candle's open, within the duration of the current H4 candle?
And to what extend does the time of the sweep matter?
As expected, the results are similar to the statistics on the H1. If we have the sweep in the first 60 minutes of the new H4 candle we have a very high probability.
Especially the 6am candle is interesting with containing the volatility injection at 9:30. I can imagine, if we have not reached the 6am open yet around 9:30 this might be a very reasonable objective and potentially gives you direction.
✅ - 10 years NQ data with M1 as LTF (2015 - 2025)