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Open Auction Out-of-Range (OAOOR)
This is a Market Profile Opening Type.
Last updated: 19-Jul-2014
What is Open Auction Out-of-Range (OAOOR)?
An Open Auction Out-of-Range (OAOOR) happens when the market opens outside of the previous traded range and/or value area. There is a good probability that the market will see One Time Framing (OTF) movement and these can be large range days.
There will be a higher level of conviction by responsive as well as initiative buyers or sellers.
Other Market Profile Opening Types:
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Open Drive
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Open Test Drive
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Open Rejection Reverse
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Open Auction In-Range