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eBook: Toby Crabel book.pdf (20.2 MB).
Day Trading with Short Term Price Patterns and Opening Range Breakout
By Toby Crabel – A Classic Framework for Short-Term Trading Success
This foundational work focuses on identifying repeatable market tendencies that traders can use for short-term trading opportunities. Crabel’s method is not about predicting the market—it’s about recognizing patterns of behavior that occur time and again, especially during key market phases such as the opening.
The book is structured into five key sections, each building toward a comprehensive approach to short-term price action:
📘 Core Sections Overview
1. Opening Range Breakout (ORB)
This strategy involves entering trades based on a price move a set distance from the market’s opening level. ORB is designed to capture momentum early in the trading session when volatility tends to spike.
2. Short-Term Price Patterns
Crabel explores the behavior of price around recent opens, closes, and ranges. These patterns are derived from common setups that reflect market psychology—such as continuation, exhaustion, or reversal signals.
3. Contraction and Expansion
Markets tend to alternate between periods of low volatility (contraction) and high volatility (expansion). Recognizing these transitions helps traders position ahead of breakout moves.
4. The Integration
This section brings together ORB, price patterns, and the contraction/expansion principle into a unified trading framework. It teaches how to layer these tools for higher-probability setups.
5. Other Useful Patterns
Crabel introduces additional setups that have shown consistency, including hooks, springs, and upthrust reversals. These patterns refine entry and exit strategies within the broader framework.
🧠 Key Topics Covered
Moves Away From the Open
Range Expansion Setups
2-Day and 3-Day Pattern Combinations
Inside Days, Dojis, and Narrow Ranges (NR4/NR7)
Combining Patterns with ORB for Confluence
Bias Identification Using Multi-Segment Analysis
Gap Setups in the S&P and Their Behavior Post-Open
Reversal Patterns like Upthrusts and Springs
Bull & Bear Hooks as Trend Continuation or Reversal Triggers
🧩 Why This Book Still Matters
Crabel’s work remains a go-to reference for intraday traders, scalpers, and short-term swing traders. His approach is rooted in statistical observation and behavioral repetition, not subjective interpretation. By combining time-tested setups with disciplined trade planning, Day Trading with Short Term Price Patterns and Opening Range Breakout offers traders a structured path to market consistency.
