The opening range is the high and low that price reaches over a certain period of time after a market has opened. The most commonly used time frames for the opening range breakout are the 30 minute and 15 minute opening range.
However, other traders will use longer opening range periods, such as the 1 hour time frame. The most common way the opening range strategy is used is straight after a new daily session. For example, if trading an individual stock, we would be looking to see the opening range in the first 15 or 30 minutes when the markets open. With the Forex market, you have a few more options to use the opening range strategy. As well as having a daily open each day, Forex also has different sessions.
A lot of traders will look to trade the opening range breakout using these session times. The idea of the opening range strategy is to gauge where the market may be going for the rest of the session.
If we can see the price break the opening range higher, then we are going to be looking for the price to move higher during that session. Because of this, you will generally tend to see the Asian market will be in consolidation traveling in a narrow range.
But that soon changes as soon as the London and European forex market opens, the volatility and the volume increases and this causes price to breakout of the Asian session market consolidation.
Now, you need to refer to this forex chart below when you go over the rules of this breakout trading strategy:. This Asian Session Breakout Strategy is designed to capture that breakout.
Raiwin C. January 12, at pm. Mangi Madang says:. January 13, at pm. January 23, at pm. January 29, at pm. Nelson says:. March 12, at pm. March 25, at am. Olus says:. I'd be really interested if this could be automated. I already use the EFC robot so adding this would be awesome.
We would plan on developing an indicator first for visual representation. Great comment. Also, it would remove the possible sabotage of the strategy due to fear.
We would definitely eliminate all doubt as we will trigger alerts if there was an entry. Yes I would be interested. I saw Tim's video and looked at doing the trade a couple of times but the conditions weren't met on those days. Would be great to have an automatic entry system.
Firstly automated EA would be fantastic for this great system, especially with myself being based in the UK and setting off for work. Do you have any videos that demonstrate this? We sure do! Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page. Actually, breakouts are one of the most popular trading strategies out there.
First off, let me explain what is the London open strategy. See below: Table of Contents hide. Author at Trading Strategy Guides Website. Moe says:. November 6, at pm.
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