Intraday Structure and Key Levels

Intraday structure forms as the day progresses: opening range, first pullback, trend leg, lunch compression, afternoon continuation or reversal. Mark session high and low continuously — they are live structure.

Prior day high, low, and close often act as magnets. Price frequently tests one in the first two hours. Manual traders note which were taken out and which held — that informs bias.

VWAP (volume-weighted average price) is a dynamic intraday fair value reference for stocks and liquid futures. Trading above VWAP with bullish structure supports long bias; below supports short — not as rigid law but useful filter.

Opening range breakout (ORB) strategies enter when price closes beyond the first X-minute range in bias direction, stop other side. False ORBs are common — combine with HTF bias and prior day location.

Midday chop (often 11:30–14:00 ET for US stocks) destroys many morning profits. Manual traders reduce size or stop trading until afternoon trend reasserts.