Opening Range Breakout discussion

[MichelleJ 1]

Here is another question. What is the time frame for the ORB? From the market open to 15 mins, or to 10 mins?

[Abiel 475]

7 minutes ago, MichelleJ said:

Here is another question. What is the time frame for the ORB? From the market open to 15 mins, or to 10 mins?

It can be 5, 10, 15, 30 and 60 min ORB...

[Abiel 475]

I did´t take this trade but Andrew and Carlos did and they noted this hammer candlestick and they read it as buying pressure or bullish candle, so this was a signal for them to take it long.

 

[Robbie Williams 12]

Aha! I was wondering why Andrew took that long

[Abiel 475]

I took this ORB down in AMD in 08/06. AMD sold off at the open, I waited for a pullback and in minute 8 I entered the trade right below VWAP, with stop loss @ 20 EMA and target at my level at $18.48 / Y close

 

 

[Robbie Williams 12]

Love the A+ setup on the 1 and 5 minute chart there Abiel (especially the long wick on the 1 minute chart immediately before your entry which showed it couldn’t push higher). I went short on a QCOM ORB around the same time so I didn’t see this one.

[daniel lindegren 27]

30 minutes ago, Abiel said:

I did´t take this trade but Andrew and Carlos did and they noted this hammer candlestick and they read it as buying pressure or bullish candle, so this was a signal for them to take it long.

 

I hesitated, then it popped 😞

[Carlos M. 232]

The volume on $SEAS was a good indicator as well. I wanted to get in right when it cracked the body high of the previous candle, once it got there it shot up. 

Edited August 7, 2018 by Carlos M.

[Abiel 475]

Today YELP and ROKU ORBs 

 

[Abiel 475]

Watch Carlos trade recap on JWN ORBu

 

 

[Abiel 475]

Watch @AdventureDogLA recap on PYPL ORBu today

 

[Benjamin Tang 4]

On 7/8/2018 at 7:47 PM, Abiel said:

 The opening range must be significantly smaller than the stock’s Average True Range (ATR).

@Abiel: Can you elaborate this sentence? what do you mean with that the opening range must be smaller than the ATR?

Can you use the screenshot below as an example?



 

[Abiel 475]

@Benjamin Tang This is part of Andrew´s strategy for ORB´s: "Ideally, the stock should trade within a range which is smaller than the Average True Range of the stock (ATR)". Ideally, you want the "range" to be smaller than stocks ATR (you can add "Range" in your market viewer and ATR study on the volume chart area of a daily chart to display ATR in $, and compare both. )

 

[Benjamin Tang 4]

2 hours ago, Abiel said:

@Benjamin Tang This is part of Andrew´s strategy for ORB´s: "Ideally, the stock should trade within a range which is smaller than the Average True Range of the stock (ATR)". Ideally, you want the "range" to be smaller than stocks ATR (you can add "Range" in your market viewer and ATR study on the volume chart area of a daily chart to display ATR in $, and compare both. )

 

Hi @Abiel

Thank you for the answer. To be sure that i understand it correctly: 

98,09 (close)  - 87,5 (open) = 10,59 (The range) this is greater than the ATR 6.12 so this is an indication not to trade this stock for the day. Is this the correct way to use ATR?