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* 80% of days, market test support or resistance in '''1st 90 minutes (bar 18)''', and the '''reversal often creates high or low of day.''' | * 80% of days, market test support or resistance in '''1st 90 minutes (bar 18)''', and the '''reversal often creates high or low of day.''' | ||
* 80% of days, the market opens have reversals (''Opening Reversal, indicating the end of the trend from the open''), which means '''Trend From The Open lasting all day only 20% of day ''(i.e. once every week on average)'''''<ref>''https://www.brookstradingcourse.com/wp-content/uploads/2018/10/181030-futuresio-Patterns-on-the-Open-Al-Brooks.pdf'' </ref><ref>''https://www.brookstradingcourse.com/wp-content/uploads/2017/10/171017-Futures.io-Presentation-Opening-Reversals-Al-Brooks.pdf''</ref>. | * 80% of days, the market opens have reversals (''Opening Reversal, indicating the end of the trend from the open''), which means '''Trend From The Open lasting all day only 20% of day ''(i.e. once every week on average)'''''<ref>''https://www.brookstradingcourse.com/wp-content/uploads/2018/10/181030-futuresio-Patterns-on-the-Open-Al-Brooks.pdf'' </ref><ref>''https://www.brookstradingcourse.com/wp-content/uploads/2017/10/171017-Futures.io-Presentation-Opening-Reversals-Al-Brooks.pdf''</ref>. | ||
* Generally, when there is a strong BO on the open, the market '''reverse in 50% of days''', no matter how strong the initial BO looks like. | * Generally, when there is a strong BO on the open, the market '''reverse in 50% of days''', no matter how strong the initial BO looks like, '''however, notice that by the close of 2nd bar closing near its low, 60% chance of MM down from the open of 1st bar to the close of the final bar of the bear BO (in bear case)'''<ref>''[https://www.brookstradingcourse.com/bonus-videos/trading-patterns-on-the-open/ Bonus Video 02: Trading Patterns on the Open]''</ref>. | ||
**''When the context is right, the chance of a successful reversal can increase to '''60% or higher'''. For e.g. if the open has a '''very strong selloff for around 18 bars''', and market forms a possible consecutive parabolic wedge bottom, and there is a huge bear bar late in the bear trend, there is 60% chance of a successful bull reversal or one more leg down and then reversal. See example in [[Gap Up and Sell Climax, Then Reversal Up]].'' | **''When the context is right, the chance of a successful reversal can increase to '''60% or higher'''. For e.g. if the open has a '''very strong selloff for around 18 bars''', and market forms a possible consecutive parabolic wedge bottom, and there is a huge bear bar late in the bear trend, there is 60% chance of a successful bull reversal or one more leg down and then reversal. See example in [[Gap Up and Sell Climax, Then Reversal Up]].'' | ||
** ''Factors that can '''increase''' the probability of a successful reversal: (which increases the probability that the selloff on the open is some kind of profit taking or vacuum effect v.s. beginning of a strong bear trend)'' | ** ''Factors that can '''increase''' the probability of a successful reversal: (which increases the probability that the selloff on the open is some kind of profit taking or vacuum effect v.s. beginning of a strong bear trend)'' | ||
**#''yesterday was a bullish day'' | **#''yesterday was a bullish day'' | ||