Discussion in 'Strategy Development' started by Ripley, Jul 11, 2005.
This is a thread dedicated to discussing Opening Range BREAK OUTS of all markets.
I trade these from time to time.
ORBOs are nothing but easy. Here is an example of a failed ORBO trade.
Following a down trend day last Friday. I would not expect oil to break out to the upside at least not in any major way (especially if no news was released). The probability of a strong move up was not there in my opinion.
Nonetheless, you went for it and you got stopped out. Nothing wrong with that. I believe one of the turtle rules was to play each and every break out? Everyone once in a while you hook a big one and most of the time you catch something insignificant or nothing at all.
edit: sorry had to delete attachment. The quality was disastrous.
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