In today's video we go over the VERY popular Opening Range for some of our favorite markets. There are several ways to use the opening range, from trading strategies to directional biases and we dig in to all of them!
The most common opening-range times are 20-minutes (Crude Oil & Gold) along with 30-minutes (Bonds, Ags & E-mini's)
Trade #1: No-Trade Zone
The first way to profit from the opening-range is to AVOID trades that occur inside this range on your chart.
The easiest way to make more money at the end of the day is to avoid the losing trades that often occur when price is trading inside the opening range.
Trade #2: Fake-Out Breakout
One of the easiest ways to trade the opening-range is to look for a fake-out breakout, which means it tries to move outside of the range but fails and comes right back into the opening range.
An easy profit target for the Fake-out breakout trade is the opposite side of the opening-range.
Trade #3: Support & Resistance
I love to use the opening range highs and lows as key levels of support and resistance that I can use to look for trades later in the day.
If price breaks above the opening-range I will use the highs of the range for buying opportunities.
If price breaks below the opening-range I will use the lows of the range for selling opportunities.
Join our Free Trial Membership for invitation to our Live Trade Room!
"Feed a man Fish and He eats for a day.
Teach a Man to Fish and He (and his family) will eat for a Lifetime"
Want to see us trade LIVE? Click here to register for theFree Trial!
Automated Trading Strategy; Let theComputer do the trading
Are you a Crude Oil Trader? Click here totrade Crude Oil
Are you a Euro Trader? Click here totrade Euro
Are you an E-Mini Russell Trader? Click here to tradeE-Mini Russell
Are you a Gold Trader? Click here to tradeGold
Join the Premier Live trade-room as an Advanced Member