Opening Range Breakout - Closed

 Did my overview for the day, and some numbers coming out at 0830. Had a look at 0820hrs, and only ZB was showing the proper ranges to try to get into an Opening Range Breakout (ORB). Price was at the breakout level, so I had to act quickly. 

It was a valid setup, so I took it, with expectation that numbers would not be kind to the market. Range from 0720-0820 was 123'25 - 123'12 (13 ticks). As all timeframes were bearish, looked at taking short side only. At 0824, went short one ZB @ 123'11. Stop is 5 ticks, target is 122'30. R/R 2.6:1


Price started to drop on 0830 numbers and then slowed at '00. Moved stop to Break Even (BE) Price went up a few ticks and stayed. I moved my target up to '00. Hit target and out for a profit. (at 0833 BOT 1 X ZB @ 123'00)


With this after picture, you can see that price did hit the target. So, lesson for the day:

  • Have faith and let the setup work. It will either work or not. By moving down so much and moving stop to BE, I have nothing to lose as I didn't have the profit to begin with.
  • Fight the urge to chicken out of the trade!



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