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* 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<ref>''https://www.brookstradingcourse.com/wp-content/uploads/2018/10/181030-futuresio-Patterns-on-the-Open-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<ref>''https://www.brookstradingcourse.com/wp-content/uploads/2018/10/181030-futuresio-Patterns-on-the-Open-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. | ||
** | ** 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 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 1 more leg down and then reversal. See example in [[Gap Up and Sell Climax, Then Reversal Up]]. Other factors that can increase the probability: | ||
**# Yesterday was a bullish day | |||
**# Gap up on open | |||
**# The sell climax from the open has big bars or consecutive sell climaxes, indicating more bears probably get exhausted | |||
**# Good looking entry bar and FT, especially when the reversal comes from major support levels, such as LoY, HoY, etc. | |||
**# PB of entry bar looks weak for the bears, some bears will sell the 1st reversal at EMA and the results will be a PB, PB '''can not''' take out the low of the entry bar | |||
**# other minor details such as gaps, tick gaps, etc. |