I see what you mean
"mean reversion" is the technical term you may be looking for
JustIntonation is in to that sort of thing
I know of a currency trader who uses the technique as well and when I am analysing intra day currency feeds I will at some time look into that as well
you do it by looking for bollinger band penetration on daily and then hourly time frames, then take a counter trend position with a tight stop
see the thread on this forum "software developers analysing data feeds" for who I am talking about
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