Transcription
[Music]
All right guys, we're just taking a look at a 15-minute opening range breakout. So, this was Tuesday the 28th. This is right before 9:30 New York open. So, you want that 9:30 candle to open and close, and you want to mark the high and you want to mark the low of this candle, which is going to give you that range that you're looking for price to either break above or close below.
After you mark that on the 15-minute, you want to scoot down to the 1-minute, try and get a nice entry. As you watch price, you get a close below, but then the next candle immediately closes back inside, which pretty much invalidates that breakout. So, you want to continue to watch for a clean break below or above.
And as you see here, a nice push, and the next candle also closes outside of this zone. So, we would be interested in taking a long. Along, you want your stop below this body. There's a possibility that price will come back down to test this 15-minute opening range. And if you look to your left, you see these highs up here, which is what we want to target with our TP.
So, if we let price play out, like I said, we get a retest of this uh 15-minute opening range, which is fine. Our stop loss is below this body. If price were to come back down into this zone, we'd no longer be interested. And price continues to push up and eventually you get TP hit. So, it's still a 2.65 risk to reward, which I'll take any day.
Opening range is a quick move. You're not really looking to hold this for any time. You just want a quick push back to previous highs, and you're in and you're out in about, I don't know, maybe 10 minutes. So, anyways, thanks for watching guys. See you next time.