Week of 2/26/24

Breakdown
Pips2Profit
Cameron Benson
 What is the opening range?
Opening Range is the first high and low in price in any given
trading period.

This applies to:

● 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.

Sell high in Asia

Sell high in London
1. 15M making lower Asian Session Entry (1 Minute)
lows & highs. EURUSD
2. Asian Session: Sell
high.
a. 1M chart
needs to make
a lower low.
b. 3 pushes back
into the high
c. “M”
engulfment
d. Enter
3. London Session:
Sell High
a. 1M chart
making lower
lows and
highs.
b. “M”
engulfment
c. Asian range
breakout
1. 15M making lower lows London Session Entry (1 Minute)
& highs.
2. Asian Session: Sell high.
EURUSD
a. 1M chart needs to
make a lower low.
b. 3 pushes back into
the high
c. “M” engulfment
d. Enter
3. London Session: Sell
High
a. 1M chart making
lower lows and
highs.
b. “M” engulfment
c. Asian range
breakout
LOW Reversal on a Friday
LOD/LOW reversal on a Friday
1. 1st hour created the high and low
2. 2nd hour spiked the high and low
3. News at 10 AM EST
4. 7 minutes after the new (Mid
point of a 15M bar) engulfed “W”
for 1st entry LONG.
 Wed - Thu - Fri Trend Trade
(opening range breakout)
Gold 1H Important Notes of the week:

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

2nd hour spiked both sides

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