ORB

The opening range is the high and low of a given period after the market opens. This period is generally the first 30 or 60 minutes of trading. It is one of the  most  important chart patterns to make money in stock market.

The Opening Range Breakout - ORB  was in Toby Crabel's book “Day Trading With Short Term Price Patterns”. Tony Crabel understood that from the beginnings of movement in a time period, whether it be a day or a week, the expanding of a price range followed a predictable and exploitable path. His approach to define a "Principle of Contraction/Expansion" enabled him to widen his investigations to a variety of narrow and wide range price formations. He investigated patterns of 2 bars, 3 bars, etc., using charts to help one understand the market concepts. Crabel's book is best known for its treatment of ORB and narrow range (NR4, NR7) patterns.

Good traders may trade patterns that appear to be simple. The Opening Range Breakout concept that has been around much longer than Crabel, but Toby Crabel made it famous, at least to those who had no reason to know that the advantage existed. Use of it will not mean that you have found the “Holy Grail”. There will be many losses to experience and the occasional large profit which makes this method so valuable. That is another reason why usually only true professionals are willing to trade this system, or others with a similar profile. You need to prove the concept to yourself before going into actual trading. Daily discipline is a key issue here. 

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