Disliked{quote} Hey Dutchy, I see that some /ES traders also posts that information about Opening Range, I think the first 5 minutes from the NYSE Open. "Opening Range: The price range established during the first few minutes of trading. To keep it simple, you can use the first 5-minute bar to define the Opening Range." But I don't know how to use that information, what exactly is it telling me? I get the Initial Balance, VAL, VAH, POC etc... but this Opening Range... if you have time to explain that in a sentence or two.Ignored
For exmple today the DAX remains in it's first 3 Min. OR.
When there is more volatility in the market you can see easy if the price goes above or below the OR.
The 60 Minute cash IB (Initial Balance) gives a good clue if the market want to break out that IB range or not.
When the market is sideways I take long scalps above the middle (50%) of the IB and Shorts below the 50% of the IB.
Today the DAX hardly comes out of its OR and definitly not out of its IB so far.
So nothing to do here and waiting for the US to move (or not)
Waiting for Meeting Minutes FOMC
It's better to be out wishing to be in... than to be in wishing to be out!