short 2141.25 stop 43.25 target overnight midpoint at 2135.25
using the plus 4 - 5 .5 area to exit long OR breakout buys and get shorts on
ideal short target would be 40.50 if lucky up here but took OR high as a first target just in case buyers step in.... runners will try for that 40.50
hoping lack of volume now will let this drift back down
thought i was alone today..guess where i got short again yup the rat and cover one at 42.75 looking for over night midpoint test at 35.25 stop at 45.50
change my target to the rat # at 37.75
low volume in overnight at 38 - 39 is a concern of mine hence the exit at 40.50 exit on most...only one left to try for midpoint and would really like to see OR high keep price in check and sellers engaged...OR breakout trades are working well when we open out of range and value
What is OR?
weekly R1 is 2141 just and FYI........not initiating any more.........this could take all day for midpoint and I'm not sticking around....we have low time from Overnight at 33- 34 area too....that was the breakdown point from yesterday afternoon
OR equals Opening range which to me is the first one full minute of trade in the day session.....some use the first 5 minutes but since I go for smaller targets I prefer to use the one minute.....some also use 30 minutes........best to use one minute I think when we open out of range.........but also be prepared to have some days where you get whipsawed a bit before you get something to really move for you....opening inside a range will see that happen more often
Originally posted by Simonig
What is OR?
interesting that midpoint falls near that 33 - 34 area...
pigs get slaughter..lol stop out at 45.50