When you get bar 1 and bar 2 in opposite directions, you can assume this is probably the Opening Range.
If bar 1 is a large taily bar it is probably the Opening Range.
When bar 2 is an Outside Bar it is probably the Opening Range too.
Read more here at Cad’s blog: First bar: Outside bar
A misplaced Reversal Bar (e.g. a bull RVB at the high of yesterday’s range or a bear RVB at the low of it) can be the Opening Range as well.
Look for a failed Breakout (if the OR is large enough) or a Breakout Pullback of the Opening Range.
You can also look for limit trades
- Buy Below or Sell above (BB/SA) the extremes of the Opening Range or Higher Lows, Lower Highs within that
- Buy the Low or Sell the High of a Swing or the extreme of the Opening Range (creating DB/DT or mDB/mDT)
- Buy or Sell closes near the extremes of the Opening Range
On this day the Three Bar Reversal (3BR), that created a Wedge failed Breakout (a three push move) of the Opening Range, was the origin of a trend, that last all day.
Check out also this post about the Open.
Check out these posts from my favorite blog for more details.