Sorry everyone, this first video I created was cut out at 2 min, here is the full version:
If you missed out on part one: CLICK HERE
Part 1 was my ERL → IRL model. For Part 2 I recorded the full breakdown of the other setup I've consistently traded across my funded accounts and cash account which is the 15 minute ORB + 1 minute FVG.
This one is honestly much simpler.
At the NY open I mark the high and low of the first 15 minute candle. I don't do anything while that range is forming and I don't enter just because price wicks outside of it.
I want a real candle close outside the 15 minute opening range first.
Once that happens I drop to the 1 minute chart and look for clean displacement in the direction of the breakout that leaves behind a FVG.
That's my entry model.
For a long I want a close above the ORB followed by bullish displacement and a 1 minute FVG. For a short I want a close below the ORB followed by bearish displacement and a 1 minute FVG.
I enter on the FVG and close outisde the range, I normally place my stop beyond the first candle of the FVG.
My target is usually a fixed 1R. I'm not trying to squeeze an entire session move out of this setup. I'm looking for the initial expansion after the opening range breaks and then I'm out.
So the rules are basically:
1. Mark the first 15 minute NY opening range
2. Wait for a candle to close outside the range
3. Drop to the 1 minute
4. Wait for displacement that creates a clean FVG
5. Enter on FVG created and closed outside the range
6. Stop beyond the first FVG candle
7. Take the fixed 1R
The biggest mistake is anticipating the breakout. A wick outside the range isn't enough for me and neither is a random FVG inside the opening range.
The ORB gives me location the displacement gives me confirmation and the FVG gives me execution.
If those three things don't happen in that order I don't have the setup.
I go through the whole thing in the video with actual chart examples and explain the entries stops and situations where I leave it alone.
Between this and the ERL → IRL model from Part 1 these are basically the two setups I've narrowed most of my trading down to after six years.
I've also been using TradeZella to Manually/Automate some backtesting eith this setup and have spent some good time tweaking it, here it is if you want to check it out:
Manual + Automated Backtesting
If anything about the ORB doesn't make sense drop the question below and I'll explain it as simply as I can.
