Candlestick Patterns Strategy for INTRA-DAY trading.
Step #1 How to Identify the ORB Nr4
The ORB pattern is defined as a trade taken at a fixed value of the opening range.
The Opening range Breakout trade is more effective if taken after an inside day that has its daily range smaller than
the previous 3 days, which is where the Nr4 stands for. You have three candles followed by another candle with a
daily range narrower than the previous three days.
Step #2: Identify the best candlestick patterns and mark the high and the low of the 4th candle
When you search for the ORB Nr4 candlestick chart pattern keep in mind two things:
Step #3: Switch to intraday TF and Buy if we break the high, Sell if we break the low of the Nr4 candle.
Step #4: Place SL below NR4 day low, Take profit using a trailing SL or 1:1
The ORB pattern is defined as a trade taken at a fixed value of the opening range.
The Opening range Breakout trade is more effective if taken after an inside day that has its daily range smaller than
the previous 3 days, which is where the Nr4 stands for. You have three candles followed by another candle with a
daily range narrower than the previous three days.
Step #2: Identify the best candlestick patterns and mark the high and the low of the 4th candle
When you search for the ORB Nr4 candlestick chart pattern keep in mind two things:
- The Daily range of the 4th candle needs to be narrow and smaller than the previous 3 candles.
- The 4th candle price range also needs to be inside the candle number 3.
Step #3: Switch to intraday TF and Buy if we break the high, Sell if we break the low of the Nr4 candle.
Step #4: Place SL below NR4 day low, Take profit using a trailing SL or 1:1
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