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Breakout
Which stretch does the open mean in an opening range breakout?
Opening range breakout
What it bets
Once the high and low set in a short time after the open are broken, the rest of the day or the session still runs that way.
How the rule is written
The Toby Crabel family of rules takes the high and the low of a fixed number of minutes after the open. A later break of that range is traded in the direction of the break. A return inside the range negates it. Stocks have an exchange open. Crypto trades all day, so the open has to be defined first: a UTC day change, a funding settlement, or a session you set yourself. Otherwise the rule has no starting point.
When it fails
Too narrow an opening range, and the first break is often noise. Falling straight back inside the range after the break is the most common way this method loses.
Do not confuse it with
NR7 waits for a contraction in range. It does not require that contraction to happen after the open. Prior highs and lows are not anchored to the opening session.