Thanks, mike but I don't follow this at all as a fake out because it defines your principle for trading when the market breaks outside the 1 hour opening range.

Additionally with an RSI BELOW 50.
The  system you've described was a crystal clear short when we broke out to the downside, below the opening range or when we retested the bottom of the range.

You should be short right now.

What's the deal with the "fake out"?  Please tell me what I'm missing! Thanks

The market wet up in the morning,looking like a bullish day, but got faked out by reversing to outside the bottom in the first hour.

Thanks!

Markets have plunged to near the lows of the day thanks evidently largely to Trump saying China will have total of 104% tariffs as of midnight.  Calculation: was 20% last month. Add 34% “reciprocal” from that chart And he just added a new 50% as retaliation. Total 104%!
https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-threatens-additional-tariffs-on-china-markets-remain-jittery-191201930.html

in defense of MPT I understood that he meant to short.

I do want to know are the times on the chart CDT or EDT???

The chart is uploaded for free from Barchart. Barchart is on central time

Thanks!