There are several variations of the opening range breakout, and one of the most common is the opening gap reversal. Like any open range breakout, this day trading pattern consists of a breakout from a range that has been set up in the first hours of trading.
There are two variations of the opening gap reversal; the first is a gap followed by a failed attempt to close the gap resulting in the reversal and breakout. The second consists of a gap, followed by a failed attempt to continue in the direction of the gap which results in the reversal and [...]
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