Trading the open is my favorite time to trade. That's when the imbalances between the buyers and sellers is highest imo. Bulls are nervous, bears are nervous and volatility is high and if you are fast, astute and can make quick decisions in the early morning than this time frame could be very rewarding. The open and the close of most sessions will do one of TWO things: Either A: The trend will reverse or B: The trend will accelerate. If the market is selling off or gaps down at the open for example, then Either the selloff will accelerate or reverse shortlt after. Your ability to spot reversals and pattern recognition to pinpoint flags, pennants, tails etc etc will also help in determining whether you are dealing with a reversal or trend continuation. I also AVOID trading after the first hour, cause that's when you'll mostly choppy conditions and that's what'll frustrate and eat up accounts.
Here's a Case Study using MEE over the past few days.
