I'd be interested to hear your thoughts or opinions regarding a typical scenario that can be seen almost every day.
Here it is:
The day session opens, after 30 minutes price (let's pretend that is our opening range) stalls above the first bar. An important horizontal volume node develops say at 1238.25 but price still stays above it but very close that level. We are clearly in a period of consolidation with no clear direction except that we have about one point of range extention above the first 30 minutes candle.
Now the killing question:
What would you look for in terms of volume to try to take advantage of the anticipated breakout ?
Would you look at the delta of a 1 minute interval and buy/sell if a specific delta threshold occurs ? If yes then what value would convince you to pull the trigger say on the ES ?