Trading Opening Breakouts & Reversals by Al Brooks
There’s a 50% chance of strong moves on the market open. By the 18th bar of the day there is a 90% chance that the High or Low of the day has already formed. Knowing these regular patterns as they occur on a price chart will help you to predict future movements as they happen
Al Brooks gave a presentation about how to Trade Opening Breakouts
Trading breakouts of the 18 bar range which is normally
Trading failed breakouts of yesterday’s high or low
The Brooks Trading Course, one of the most comprehensive source of information on reading and trading price charts, suggests that you look out for these classic signs when dealing with a breakout pattern on the open of the market.
- 50% of strong moves on the open fail and reverse
- By the 18th bar, there is a 90% chance that the High (H) or Low (L) of the day has formed
- Trading Opening Range breakouts (Breakout Mode opens)
- Trading breakouts of the 18 bar range
- Trading failed breakouts of yesterday’s high or low
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