Opening Range Breakout Preference ORBP

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Definition of 'Opening Range Breakout Preference ORBP'

ORBP is an acronym for the Opening Range Breakout Preference, a trading strategy devised by Toby Crabel.

An ORBP trade is a one sided Opening Range Breakout (ORB) trade. If other technical indicators show a strong trend in one direction then the trader will exercise a "Preference" for the direction in which to trade the ORB trade. A stop to open a position would be placed on the side of the trend only and if filled a protective stop would then be placed.

The calculation of where to place the "stop to open" would be the same as that for the ORB trade: For longs, the Open price plus the Stretch and for shorts the Open price minus the Stretch.

The ORBP trade is a specialized form of the ORB trade.

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