Yesterday I bought at very nearly the low the of the day. I did this because of a price/ time relationship I have found to be extremely effective in entering the market. If you calculate the opening range and create a fibonacci extension over it, you will find prices tend to stop or even reverse once they hit these levels. Yesterday it was the 161 level. Often times this is the most probable level which price will bounce from as it is the first extension level from a breakout.
What adds even more probability to the bounce is the hourly pivot. Yesterday the hourly pivot was below the 161 fibo extension level. If price stays above this level you can almost guarantee a very swfit and profitable bounce. Which we got with a clean 90 pips possible profit.
*Note there is a second way to play the Opening Range Breakout. One which is even more profitable and immediate in its rewards. You wait for a very small opening range, such as today in the Euro (only 24 pips) and enter on the first close outside the range. I am reasonably confident today's move will be swift and substantial.