Opening Range Breakout

The Opening Range Breakout strategy is based on the idea that the market tends to continue in the direction it starts off in during the first hour or so of trading. By identifying key support and resistance levels during this initial period, traders can look for potential breakout opportunities. One way to implement the Opening Range Breakout strategy is to use NinjaTrader’s Chart Trader with an ATM Strategy. This allows traders to enter and exit trades automatically when the market breaks out above or below the opening range. Traders can also set stop-loss and profit targets using the ATM Strategy, which helps to manage risk and lock in profits.

Look for the first thirty minutes to identify the high and low that identify support and are called the opening range breakout levels. Lines are marked on the chart to identify them. This sets the tone for day trading the opening range. Then, the Mid Line is another support level of the opening range. This method is used by all major trading firms each day for trading the opening range. They have smart money and participation by trading firms to move the price by trading the opening range. They move high volume in price breakout each day of the opening range breakout.

Opening Range Breakout

Opening Range Breakout NQ Higher we Go

Above the opening range high and low, you have nine levels of Fibonacci Levels for the day. This is where the price action and high volume can move throughout the day and breakout. Advanced Fibonacci levels plot on the charts to give you predetermined targets to take your gains.

The first 15 to 30 minutes of the morning each day are the best trading opportunities to consider each day for your trading strategy. These levels set the tone or range for the day and can be very profitable playing the opening range breakout above the opening range high and shorting the lows of the opening range low. The opening range is one of the most important chart patterns to learn and make trades in the futures or stock markets. Opening range levels act as a magnet to the price action and should be the focus of your trading strategy as there followed by high volume.

Fibonacci levels are a popular tool used in technical analysis for determining potential support and resistance levels. In the case of the NQ chart, the Fibonacci levels are applied to the opening range, providing traders with key levels to watch for potential entry and exit points. The midline serves as a key resistance area, and it can help traders determine if a price reversal is likely to occur. The price action on the chart shows that NQ found support at the Opening Range Low and then broke out above the Opening Range High, reaching the 100% Fibonacci level, where traders may choose to take their profits.

For those who prefer a more hands-off approach, our automated strategy can execute trades based on the opening range breakout levels. Visit this page for more info: Opening Range Breakout Strategy | Automated Trading Breakout The manual and videos provide a comprehensive guide on how to trade these levels, and the automated strategy offers a convenient solution for those who prefer a more automated approach

Opening Range Breakouts ES Chart

The software draws the box on the chart for the high and low for the breakout trading strategy. In the chart below the price breaks above the opening range price moves up over 61 and moves to the 61.8 and 100% Fibonacci level which is a good area to take gains.

Fibonacci Levels: Trade the Fibonacci Levels each day know where the price can move on powerful trading strategies by trading the opening range. Learn how to trade opening range

Support & Resistance: These levels come into play each day and identify the high and low of the opening range breakout.

This is a highly accurate breakout indicator that traders use each day. It can be customized to your trading, and the manual and watch video explain how to trade opening range breakouts. We will teach you how to trade the opening range and the high volume by price action.

Breakout Results ES: In trading the opening range breakouts we use an ATM strategy with specific targets and stops to manage the trade. This can be easily setup in NinjaTrader. This could be your one-and-done trade each day. An advantage of the opening range breakout indicator is that it gives you a clear bias of price action.

Breakout: Above is a chart of ES with the Opening Range Breakout Indicator. Price breaks out over the open range high and moves up to the 100% Fibonacci level. Then a small pull back and price moves up over the 100% fibonacci level off to higher highs and target would be the 161% Fibonacci level. These patterns repeat each day and are easily tradeable for the day trader. The breakouts are quick go in the direction of the trend and traders just manage the trade. With the Fibonacci levels that are drawn automatically you can see the resistance levels and know where the price can go.

Trade Opening Range Breakouts Crude Oil

The chart depicts crude oil moving below the opening range, which isn’t too weak. Later in the day, however, it breaches the opening range low once more and experiences a sell-off. We use the Fibonacci levels to predict future price movements. This indicator can be applied to any chart type.

These recurring patterns provide a profitable opportunity for traders looking to make gains in open-range trading. Our comprehensive manual and informative videos provide step-by-step instructions on effectively utilizing our advanced breakout indicator in your open-range trading strategy.

Opening Range Breakout

The first 15-30 minutes of the trading day between 9:30-10 am sets the tone for the day in the financial markets. You will see the most price action happen during the first half-hour of the trading day. So no need to trade all day to master these breakouts or breakdowns for trading the opening range breakout strategy. Following our guidelines, traders can confidently identify and capitalize on market movements during the opening range. Don’t miss out on this valuable opportunity to enhance your trading skills and improve your overall trading performance.

Trade The Opening Range

Breakout

Trading Opening Range Breakout

Above and below the opening range, you have nine Fibonacci Levels that come into play each day and are customizable. Make the line colors any color you wish, and thickness. Also, for the Fibonacci levels, you can customize the levels, make them any levels you wish. With this software, you would only need to trade one hour a day playing the breakouts and shorting the breakdowns.

Trade Opening Range Breakouts ES

The chart below shows an ES breakout and an upward price trend. The Fibonacci levels are utilized as potential target levels for price movements. If the price reaches the highs, taking profits at the 100% Fibonacci level is advisable.

The Fibonacci retracement levels are widely used in technical analysis to identify potential levels of support and resistance in an asset’s price movement. In the case of an upward trend, as depicted in the ES chart, the 100% Fibonacci level can serve as a target for taking profits. It is important to keep in mind that while these levels can be useful in predicting price movements.

Patterns Repeat: These patterns repeat daily and are very tradeable to make gains trading the open range. We give you the guidelines for setting it up, covered in the manual and videos for trading the opening range with our breakout indicator.

Trading Opening Range Breakouts - Go Short on Breakdown NQ

In the chart above we are trading the NQ and it initially had a breakout to the upside. But it ran into resistance at the 138.2 Fibonacci line. The price then held that area for a while and then lost support at the opening range high and began to sell-off. Order now and learn to trade the opening range breakout.

We go short and have predetermined profit targets that are hit on the sell-off. The price action sells down to the 100% Fibonacci level and our targets are hit and we exit the trade.

The indicator identifies the open range breakout for the day and these Fibonacci levels are in effect all day in the financial markets. From the open to the close you can trade off these levels to the upside or short to the downside. The Fibonacci levels come into play each day and are very accurate. We have an automated strategy that will make the trades for you, visit this page for more info on trading strategy: https://www.trading123.net/product/orb-strategy/