Open drive
Moves away from the open at once and never trades back to it. The most confident open.
Lesson 08
Opening types
The way the cash session opens tells you how sure the bigger players are. A confident open moves away and never looks back; an unsure one wanders both ways.
In one lineThe stronger the open, the less likely it is to come back to its starting price soon.
The four opens
Open test drive
Tests one direction first, finds nothing there, then drives the other way.
Open rejection reverse
Moves one way, is rejected, and reverses through the open. Less conviction.
Open auction
Rotates both ways around the open. No side in control yet.
The first two hours of four simulated sessions, 5-minute bars. Illustration from simulated prices, not a real session.
What to do with it
The open type is context, not an entry. A drive says the other timeframe is active, so fading it is fighting the strongest flow of the day. An open auction says nobody is in charge yet, so the edges of the early range matter more.
Key terms
Open driveAway from the open immediately, no return.
Test driveA failed test one way, then a drive the other.
Rejection reverseOne way, rejected, back through the open.
Open auctionTwo-sided rotation around the open.
Try it
Name the open by 10:00 ET each day for two weeks. Then check how often the session closed on the side the open pointed to. You are building your own base rate.
AXIS Desk · AMT Fundamentals · free. Education only, not trade advice. Futures trading involves substantial risk of loss; past patterns do not guarantee future results.