And I think it's starting to make sense. It removes the whole dilemma of where's price going, because the candle color gives direction. Above? Go long. Below? Go short. And it simply makes sense to trade away from the open as long as the current range is lower than the average range, because that's what price usually does according to statistics. If it doesn't go my way I can just scratch it for a small loss and that's it, because I know it will expand one way or another. After all, I can always re-enter later.
Putting it this way reminds me of the buy zone but I think it finally clicked. Daytrading with a daily chart is probably as simple as it can get, because I'd be looking at a single candle.
Using something like this would give me something that I can do every day on the same pair with a simple approach. Of course, easier said than done, but I want to give it a shot.
If I had to put it in steps, I guess it'd be something like this
1) Candle color gives direction.
2) Horizontal line gives entry.
3) Statistics give exit.
4) Common sense cuts losers early.
