Continuation, Opening Range, misplaced RVB, 2fBO, 1tF BT, XT, fBO, fH2, L1, mDB, DB, SHS, DT
a couple of nice strengtheners from the Buy Sell Pressure indicator
check out the red and green comments on the chart
daily chart
Always In Long (AIL) since 06/04
bears got a signal bar for a fBO of the ATH, but it’s overlapped 2/3rds by the prior bar, which is a TR bar
aggressive bulls buy lmt C as they expect it to fail
The Opening Range – Bar by Bar
Bar 1 is a TR bar or a misplaced RVB it forms the Opening Range
b2 is an IB, it’s inside the OR
b3 is a fBO of the OR, it closes back inside and extends it
b4 is a BO on the opposite side of that extended OR
b5 is the 2nd fBO of the OR
b5 is a bull RVB a good SB for a fBO
a stop entry above b5 has enough room for a profitable trade with IR / reward = 1 to the high of the OR (b3 high)
b5 is a setup called 2fBO – the 2nd fBO of the OR on the opposite side
more examples see here
read more about the Opening Range here