Opening Range Scans

I am waiting for the market to open to show me some opening drives in the morning. My recent project is watching stocks that have nice opening drives at the beginning of the session. I have set up the scans for it. I am looking for stocks that have nice relative volume and significant opening range compared to 20 and 10-day averages respectively.

I still don't know what to look for, so I am going to take some samples and watch the stocks for a few days, see if I can get a 3-5 day swing out of them.

 

Note that this is a simulated trade, as I am just getting my feet wet for now. I went short on DESP since it gapped down and was weak on the pre-market (i should know premarket levels beforehand, I should take note of that).

I shorted quite a bit early as I am now finding out , I thought momentum was topping out at 12. But I'm just going to hold this overnight and see what happens.

For now this is the only play I'm seeing. Going to observe some more because this could turn out to be a sort of bounce play setup, INstead of a short.