Recently I posted the following image to my YTC Facebook page:



Let’s look at this Opening Range (OR) idea in a little more detail.


Let’s look at our earlier facebook chart for an example…

The very next day (after the chart from the facebook image) provided an absolutely beautiful session where the opening range again came into play.

So let’s have a look at this new example.


Twenty-five minutes into the session the market moved to test the opening range from below.

Three trades were taken within this “test of OR” sequence. The first was exited with a defensive scratching as short-term support was found. My intent was to re-enter higher.

The second entry moved nicely to profits before again finding support. Part two of the position was held for quite a few bars, giving the position maximum chance to again continue lower. It wasn’t to be.

The weakness in this pullback led to a decision to re-enter for the third attempt. It was stopped out.

Structurally the trade was in a great location which would have offered a 10R return for part two, had it continued to retest the daily low. This wasn’t to be. Although the trade idea failed to play out, sufficient movement was available to leave with a profit.

About twenty minutes later the opening range again came into play, this time acting as support.



This trade provided a short-term stall just following the entry which had me reducing risk via a partial exit for +1, re-entering on a break above the stall area.

From here it moved nicely to the first target. Profits were taken on the remainder once the push to new highs failed.

Two opening range trade sequences… two nice profits.

As with all levels of support and resistance…

(a) Remember that it’s an area, not a level.

(b) There are no guarantees! Remember… all S/R should be considered “potential” S/R.

(c) Every test of S/R is unique. You still need to conduct your strength / weakness analysis. Don’t just blindly enter and hope for a win.

(d) The level should be removed from your chart if price has moved back and forth through the opening range with no (or minimal) impact.

 And for a very wide opening range… consider the opening range high and the opening range low as two separate areas of S/R.


Happy trading,

Lance Beggs


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  1. Hi Lance:

    For the currencies: AUD, CAD, GBP, EUR which session do you consider as open? Will it be both US session and UK session?


    1. Hi Nathan,
      It depends upon what session you’re trading. If you trade only the UK session then use the UK open. If you trade only the US session, then use the US open. If you trade across both then use the UK session.
      (Or EUR open if you prefer, which is one hour before the UK open).
      There is no right or wrong. What is most important is consistency in how you operate.

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