Category:10RBOM

BOM Open, also a TRO. Market went above 1H and then 1L and then coming back. Expect market to BO above the H or below the L, and look for MM. Keys to define a BOMO:

• If the pattern has less than 10 bars (but at least 5), it is less reliable.
• If the opening range is more than 50% of average day's range (ideally between 30% and 50%), the BO is probably not going to lead to a MM, it probably will simply be a TRD.
• If BO happens late after 1pm EST, TR more likely^[1]

See also 18RBO.