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Week of 2-26-24 Breakdown
Week of 2-26-24 Breakdown
Week of 2-26-24 Breakdown
Breakdown
Pips2Profit
Cameron Benson
What is the opening range?
Opening Range is the first high and low in price in any given
trading period.
● Year
● Month
● Day
● Session
Tips and Tricks
1. Market Close OUTSIDE Opening Range On Tuesday, probability of Wednesday continuation increase significantly.
(UNLESS BREAKOUT FAILS ON WEDNESDAY!!!)
2. Market Close a FAILED BREAKOUT on Tuesday, probability of reaching for the other end of the Opening Range increase
significantly.
3. If Mondays Breakout fails, and then Tuesdays breakout fails at the other end of the week, high potential for Parabolic
Trend Trade on Wednesday.
4. If Tuesday hits both sides of the Opening Range, the potential for Parabolic trend trade increases.
5. If the breakout on Tuesday closes 3 levels of rise or fall out of the opening range, the potential for reversal throughout
the week increases.
6. 3 Drives out of the Opening Range coming into Friday has the highest potential for large reversal.
7. If there are only 2 drives out of the opening range coming into Friday, there is a higher probability of Parabolic Trend
Trade (Friday)
T&T #1: Market Close OUTSIDE Opening Range On Tuesday, probability of Wednesday continuation increase
significantly. (UNLESS BREAKOUT FAILS ON WEDNESDAY!!!)
EURUSD 15M 1. Opening Range
formed on Monday.
2. Monday was large
pumping day.
3. Tuesdays breakout
of Monday’s high
FAILED.
4. Tuesday was a FRD.
5. Tuesday had a lower
low on on the inside
of the current weeks
range.
6. Wednesday: Asia
broke out of EODC.
7. Gap time OPENING
RANGE BREAKOUT
coming into London.
1. Consolidated Mon-Thu
a. Thu was a opening
range breakout.
2. Friday only had 2
possibilities to look for:
a. Failed breakout of
weekly OR
b. Breakout/pullback
trend trade
3. Fridays OR (Asian Session)
was broke out of in London
4. London was a stophunt into
the breakout traders.
5. New York pulled back to
Asian highs and went
vertical after the news.
1st H makes a high and low Gold 1M
News at 10AM
Ascending Triangle
“W”
USDCAD & OIL Same Template…different results
USDCAD 1H Oil 1H
WHY?!?!?!?
USDCAD
USDCAD 1H Takeaways:
1. Lower Low
2. 3 Pushes back
into HOW.
3. High of inside
bar triggered.
4. OR/IB Failure
(Asia London)
CAD 1M