Today I’m going to do a little something different. I’m going to spoon feed you an Opening Range Trade strategy that can reliably produce sizable profits!
If you’ve ever day traded, you know that any little tip or trick that delivers an opportunity is helpful.
We want to be efficient when we’re at our trading desks. We’re not there for entertainment — we’re there to make a day’s pay and carry on.
There are dozens of strategies and most traders need to employ multiple in order to find somewhat consistent returns.
But if you can sit tight through the opening bell for about 15 minutes, you can create a price range around the 0930 – 0945 candles.
In doing such, you’ve identified a range of the market that you do NOT want to engage inside of.
You want to wait for a candle or a sequence of candles to settle outside of this window of time.
Does it guarantee the market will follow through? Nope! The only guarantees in life are taxes and death…
But there’s a decent chance that price could follow through.
Now at this point you want to employ some odds enhancers and a trade plan that would support your next move.
You’re going to need to assess your risk/reward opportunity. You’ll have to look at some higher timeframe resistance, pivots and such.
But if the market were to continue in the direction it left that Opening Range, there’s a pretty good chance you could navigate it if you have a few tools in your trading belt.
So next time you’re sitting at your trading terminal, do yourself a favor.
Mark off the first 15 minutes of the session and wait until the price decides to settle above or below it before you start hitting that buy or sell button.
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I hope you find this useful!