<<for what in essence you are asking is when does the profile change from a responsive to an initiative style>>
that wasn't what I was asking but a thoughtful response nonetheless.
I was just trying to derive the value where buyers and sellers agreed enough where it is a price that can be used in the future as a spot where more activity might occur (a re-test). To me, it is useful to know that price returns to its previous days
POC 75% of the time as I can use that information as 1 bias/tendency to mix in with other tendencies to create an effective overall strategy.
I generally expect a morning reversal (responsive activity) and afternoon trendiness (initiative activity) as a default rule. Clean trend days these days (like Thursday) are so rare that I think most investors are far too overly-concerned on catching these. What do you think? I try to be realistic whenever I see dogpile type of action. The odds are strongly against a trend day every day --- Thursday had a nice 'shock event' of the bond market collapse/climax that supported a trend day. Most days do not have such unusual circumstances.