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Open Drive OD
This is a Market Profile Opening Type.
Last updated: 19-Jul-2014
What is Open Drive OD?
The Open Drive happens if the market opens above or below the prior day's range or value area. The Open Drive is dominated by responsive buying or selling back to the prior accepted value.
If the market moves away from the prior session's range then the open is dominated by initiative buying or selling. When trading with market profile it's important to detect this early and not trade against it. One Time Framing (OTF) is highly active and is accumulating/distributing aggressively.
Other Market Profile Opening Types:
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Open Test Drive
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Open Rejection Reverse
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Open Auction In-Range
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Open Auction Out-of-Range