ORB 5 min AMD. Got stopped out, what else to consider next time?

[Lenny 2]

Hello team BBT,

In this trade I wanted to take the ride down, but got stopped out. Trade was on March 20 and stock gapped up. (papertrading)

1. Because of the long wick after the first 5 min candle I didnt want to take the ORB down. Is this a good reasoning?

2. On the 5 min, the stock already had quite some distance from VWAP. Was is therefore to late to take the trade, or not?

3. What are other factors to consider here or how to improve myself?

 

[Kasper 13]

ORB looks fine.

What is that level it bounces off ?

Try to look at level 2 when price gets near a certain MA or S/R level

 

Kasper

Edited March 21, 2020 by Kasper

[RTrader 20]

Can anyone prove that ORB's have an edge over time (long or short with specific setup criteria)? I'd love to see the data on it.

Jason