10RBO

Also called BOMO, 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 10RBO:

• 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

See also 18RBO.

➟ More about O

➟ More about 1H

High or High of Day. ➟ More about H

Low or Low of Day. ➟ More about L

Measured Move. ➟ More about MM

Trading Range Day. ➟ More about TRD