The Opening Price Principle/ And the Opening Range method/ with a chart

Ok, I for one am impressed. I have gone back through my charts and found this to be absolutley true. That is that 70% of the time the opening price will be within 20% of that days high or low. Thats pretty impressive I think.

The other thing is the Open Range method works well I think too. Atleast for me it gives me a direction to look in. I do not get faked out as much I guess.

Anyways in the picture the high of the day is the white line of course. The yellow line is the low of the first 30 minutes of trading, which establishes the "Opening Range".

The opening price is the yellow line too. These two were so close, that I just used one line, the yellow one.

Chad