A short tutorial segment from a YouTube video by Kardec Trader describing an intraday trading setup known as an opening range break (ORB). The speaker explains the ORB on a 5-minute chart: you enter on a breakout above the prior 5-minute bar's high with a stop around the day's low, and notes typical early-morning washouts before entries.
And so one of the very first setups that I always like to mention is you have an EP as a setup, right. And so then it becomes how do I get involved in that? Well for people who are intraday they should know what's called an opening range break or as some people call an orb. And an orb is just a simple if you're looking at a five minute chart it'll be like here's your candlestick. So this is your close on your five minute bar. It opens here, right? It closes here and your next five minute bar your entry is over that prior high. With your stop being at the lows of the day morning it'll kind of go down first washes out a little bit in the morning you can have your entry right over that candlestick but if you just right off the open get a candlestick that looks something like that your entry is going to be over prior 5 minute bar. With your stop at low of day.
