Category:ORG

Opening Range. In a bear case, when the ORG is relative small and market failed to BO below the range (usually also FBO below MSR) after strong attempt and reverse up, traders have to be thinking about market will try the other direction for a MM up of the range. For e.g. on 20230324, bears tried hard with strong sell off 14-16 and 20-21 below EMA to resume the bear trend of yesterday, but the attempt failed 3 times (5, 11, 25) below LOY, bulls had a HLMTR and got a MM up. This is similar to the rationale of "Initial Selloff Matters" that Al described about ORV.