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
As you can see from the charts above, point A should be the 61.8% retracement of drive 1.
Similarly, point B should be the 0.618 retracement of drive 2.
Then, drive 2 should be the 1.272 extension of correction A and drive 3 should be the 1.272 extension of correction B.
By the time the whole three-drive pattern is complete, that’s when you can pull...