openingrange
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Table of Contents
πΉ Strategy 1: Opening Range Breakout (ORB)
- Setup: Price breaks 15-min high/low with strong momentum or volume spike.
- Ideal Time: 8:30β9:15 AM CST
- Entry: Above high or below low of 15-min open range
- Stop Loss: 3β4 ticks below entry
- Take Profit: 6β8 ticks or key level retest
- Platform Combo: TradingView to mark OR, Tradovate to execute
β° What is the 15-Minute Opening Range?
The 15-minute opening range refers to the high and low of the first 15 minutes after the market opens.
π Why It Matters
- Captures the market's initial volatility and sentiment
- Often influenced by institutional orders and news reactions
- Key zone for breakout strategies like the ORB (Opening Range Breakout)
π How to Use It
- Mark the high and low from 8:30 to 8:45 AM CST (for US Futures)
- Watch for a breakout above or below this range
- Entry: Triggered by momentum breakout or volume spike
- Add confirmation:
- Retest of the range
- Volume surge
- Strong candle pattern (e.g., engulfing)
π Strategy Tie-In
This range is the foundation for the Opening Range Breakout (ORB) strategy:
- Donβt predict β react to the breakout when it happens
- Focus on momentum and timing, not guesswork
π« ORB (Opening Range Breakout)
Example:
- Between 8:30β8:45 AM CST, price forms a 15-min opening range.
- At 8:47, it breaks above the high with a large bullish candle and strong volume.
Trade Entry: Long above the OR high. Stop Loss: 3β4 ticks below breakout candle. Target: +6β8 ticks or next resistance zone.
Why it worked: Momentum breakout confirmed by volume and timing right after the OR window.
openingrange.1743917381.txt.gz Β· Last modified: 2025/04/06 05:29 by lwattsii