Direxion Daily S&P Biotech Bear 3X Shares

Direxion Daily S&P Biotech Bull 3X Shares

SPDR S&P 500 ETF Trust

Decided to try a new topic: busting speculation about Technical Analysis.
Will be sharing trading strategies with results and analysis.
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The one for today:  **Opening Range Breakout**

**The Setup**

Opening Range Breakout is rather simple
- Enter on price crossing above opening high
- Exit on high crossing below opening high (or 10% gain)
- 1% TSL | Max Risk per day 2%
- Just 1 trade per day
- Trading [$LABD](https://twitter.com/search?q=%24LABD&src=cashtag_click) / [$LABU](https://twitter.com/search?q=%24LABU&src=cashtag_click)

![](https://cdn.commonstock.com/d33862cc558db06b80657a40c56b405eb1a1bf2cf9682cb8a82195ab32ed2569-625x625.jpg)


**The Results**

50% gain YTD
Beats [$LABD](https://twitter.com/search?q=%24LABD&src=cashtag_click) , [$LABU](https://twitter.com/search?q=%24LABU&src=cashtag_click) and [$SPY](https://twitter.com/search?q=%24SPY&src=cashtag_click) buy and hold

![](https://cdn.commonstock.com/e6a823d6131c1a27f77367383529c9e34745046294a251844b56ad541d874088-830x830.jpg)

2021 and 2020 results are comparable.

![](https://cdn.commonstock.com/b975de53d2d53705b43955c535ef5f5f3956a26f9f7fbe81346be3b94f8d8ed5-742x846.png)

**The Thesis**
Historically the high/low price aggregates around market open. The strategy just tries to capitalize on that distribution by acting consistently.

Breaking Equity

https://twitter.com/search?q=%24LABD&src=cashtag_click

https://twitter.com/search?q=%24LABU&src=cashtag_click

https://twitter.com/search?q=%24SPY&src=cashtag_click