Open Test Drive OTD
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Definition of 'Open Test Drive OTD'
This is a Market Profile Opening Type.
An Open Test Drive (OTD) happens when the market opens, moves a short distance in one direction and then another trying to advertise for one side or the other to step in. This will usually test a prior key area and then push once it has gained conviction that nobody is left to oppose it.
With the OTF the traders have tested both directions and determined a fixed direction based on little or no resistance in that direction.
Other Market Profile Opening Types:
An Open Test Drive (OTD) happens when the market opens, moves a short distance in one direction and then another trying to advertise for one side or the other to step in. This will usually test a prior key area and then push once it has gained conviction that nobody is left to oppose it.
With the OTF the traders have tested both directions and determined a fixed direction based on little or no resistance in that direction.
Other Market Profile Opening Types:
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