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The open drive trading strategy is created by a big participant needing to get a large order filled, and executing that order from the start of the open. Brannigan explains that the open drive generally has a few identifying characteristics and opportunities.
The first thing to note is that it is common to see a bounce after the market finds a pocket of liquidity. Following the bounce, we tend to see a second wave for a continuation and to go with the flow. This can be seen in the given example in the S&P500 from 14.30 GMT on 25 June 2018.
The market profile then shows a series of one time-framing periods without a previous high being taken out, and continued selling throughout the day. We also don't see the extreme of the initial balance being taken out. Generally, you should go with the flow on these day types. The footprint also reveals and highlights where liquidity was found before being absorbed and consumed before the large time-frame participant continued to initiate lower prices. Combining these different identifiers helps us learn to recognise an open drive, and better execute it when trading leveraged positions.
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